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What Happened To Foreign Ownership Rule Change?

Category: Hotels, Posted:06 Aug 2010 | 06:00 am

Last year there was much optimism in the hotel sector back of the ASEAN Economic Community guidelines for sweeping ownership reforms what would provide majority control of hotel investments in the country.
While Thailand has formally committed to this to be implemented by 2015, there is word the Board of Investments is looking to spur the service industry.
Currently in the service sector foreign investment is limited to 49% and will be raised to 70% under the ASEAN initiative. Land ownership for hotels owned by overseas interests remains a contentious issue.
Liberalization of the hotel investment sector and related service industry would spur growth in what is now becoming an increasingly domestic dominated playing field.
For now eyes are on the BoI on when and how initiatives will be introduced.

Other News

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Direct Hanoi Phuket Flights Commence

Category: Tourism, Posted:20 May 2023 | 12:11 pm Vietjet has kicked off direct flights between Hanoi and Phuket. The airline also operates daily service between the Thai resort island and Ho Chi Minh City. While short-haul regional Phuket is gaining pace, with China gaining traction, long-haul traffic to Thailand remains slower compared to 2019, according to OAG. Thai Airways International’s absence from the […]
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Phuket Hotels Association Online Travel Auction Now Open

Category: Hotels, Posted:14 May 2023 | 09:56 am The annual non-profit Phuket Hotels Association Absolutely Fabulous Online Travel Sale is now up and running. CLICK With nearly 200 hotel travel and dining deals across Thailand, Asia the globe, all proceeds go to the education scholarship fund of PHA. Over 45 Thai hospitality students are now supported by the fund and these are the […]
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C9 Hotelworks and Horwath HTL Release New Bali Hotel and Branded Residences Report

Category: Hotels|Real estate, Posted:28 Apr 2023 | 16:33 pm The resort island of Bali continues to be one of the world’s most desired holiday destinations. Over the past three decades, its resort real estate market has continued to evolve and change. Though, for branded residences, both in the lead-up and period after the global pandemic it has lagged behind other key Southeast Asian leisure […]
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