News Forum - Foreign investors keep a close eye on struggling Pattaya hotels

[Thaiger]

With Pattaya hotel operators in dire financial straits brought on by the lack of tourists during the pandemic, foreign investors are apparently keeping a close eye on the situation. The hotel operators in the tourist city are being warned that if they do not get assistance for their outstanding loans, then their businesses could be taken over by foreign investors. Pattaya is one of the areas in Thailand that has been hit the hardest by Covid-19. The city’s famous “Walking Street” has been compared to the zombie apocalypse series, the “Walking Dead.” Many businesses have been struggling to stay afloat. […]

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[gummy]

Now is the time to legalise gambling, make Pattaya a special investment and entertainment zone and get the big investors into Pattaya  to build some casinos. 3 years in the making so by 2024 Covid will be a minor irritation and Pattaya will rise again. 

[sputnik]

40 minutes ago, Thaiger said:

With Pattaya hotel operators in dire financial straits brought on by the lack of tourists during the pandemic, foreign investors are apparently keeping a close eye on the situation. The hotel operators in the tourist city are being warned that if they do not get assistance for their outstanding loans, then their businesses could be taken over by foreign investors. Pattaya is one of the areas in Thailand that has been hit the hardest by Covid-19. The city’s famous “Walking Street” has been compared to the zombie apocalypse series, the “Walking Dead.” Many businesses have been struggling to stay afloat. […]

The post Foreign investors keep a close eye on struggling Pattaya hotels appeared first on Thaiger News.

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well the chinese put in some small change...later when its open again the triades bring in the girls from mainland...change all to red light chinese style and only serve chinese weekenders....pty as its known today goodbye...I always thought foreigners cannot own land in LOS...well chinese triades are prayuts dearest friends...same same but different

[PhayakPeter]

The Chinese have been buying up cheap business and properties since covid started crashing World economies. Covid released from China, coincidence? 

[dmacarelli]

This government has been very stingy with the assistance for small businesses unlike many others in Europe and the US. It is almost as if they want the industry to collapse. 

For a guy who tries to maintain a strong image, Prayuth appears to be very weak and fearful. The zombies are coming. 

[ExpatPattaya]

Ban all parking on Beach road and shut it down to all motorized traffic after 6pm.  No more constant noise from motorbikes and the tons of pollution from the cars and trucks.  People could actually enjoy the serenity of being on the beach in the evenings.  1000 times more safe for people as well

Have investors buy the old hotels and businesses from Soi 2-Soi 13-5 and turn them into parking lots.  The income from parking lots is substantial.  Joe Diamond became a multi millionaire with paid parking in Seattle, WA USA.  Plus better than parking your car in the basement of a condo or hotel that floods every rainy season.  

Edited September 10, 2021 by ExpatPattaya

[DoUKnowWhoIAm]

"mostly Chinese, are interested in buying hotels in Pattaya."

I read somewhere that 50% of Pattaya condos are already owned by Chinese.  And with like 30 million Chinese incel men looking for partners, Pattaya could soon turn into a some kind of Chinese breeding ground. (in competition with the lone Indian males...)

[gummy]

5 minutes ago, DoUKnowWhoIAm said:

"mostly Chinese, are interested in buying hotels in Pattaya."

I read somewhere that 50% of Pattaya condos are already owned by Chinese.  And with like 30 million Chinese incel men looking for partners, Pattaya could soon turn into a some kind of Chinese breeding ground. (in competition with the lone Indian males...)

I think the locals would prefer Chinese to Indians when it comes to breeding. Maybe another "survey" is required 

[BIGGLES]

What a surprise!

Who would have thought that the Chinese have an eye on investments in Thailand?

Can't understand it myself.

 

[Cathat]

 

If a lot of Chinese buy hotels in the area it could well mean the soi dog issue may well be finally resolved.

 

[Stonker]

2 hours ago, ExpatPattaya said:

People could actually enjoy the serenity of being on the beach in the evenings. 

Some expat residents might, if they're into the evening beach-walkers, but I doubt that "the serenity of being on the beach in the evenings" is what most of those visiting Pattaya go there for.

[EdwardV]

8 minutes ago, Stonker said:

Some expat residents might, if they're into the evening beach-walkers, but I doubt that "the serenity of being on the beach in the evenings" is what most of those visiting Pattaya go there for.

Wait .... Pattaya has a beach? When did this happen? 

[Stonker]

25 minutes ago, EdwardV said:

Wait .... Pattaya has a beach? When did this happen? 

More accurately now, Pattaya had a beach ...

now it only has a Beach Road ...

[DoUKnowWhoIAm]

18 minutes ago, EdwardV said:

Wait .... Pattaya has a beach? When did this happen? 

He did say evening beach-walk, so if it's dark enough you might misstake the fill sand, (if there's any left?) for a beach.

[JamesE]

4 hours ago, gummy said:

Now is the time to legalise gambling, make Pattaya a special investment and entertainment zone and get the big investors into Pattaya  to build some casinos. 3 years in the making so by 2024 Covid will be a minor irritation and Pattaya will rise again. 

So, cede it to the Chinese? This is what's happening in Laos and it's not going to end well.

[EdwardV]

1 minute ago, JamesE said:

So, cede it to the Chinese? This is what's happening in Laos and it's not going to end well.

Sihanoukville is proof positive of just how bad of an idea it would be. 

[gummy]

8 hours ago, JamesE said:

So, cede it to the Chinese? This is what's happening in Laos and it's not going to end well.

Macau is not so bad

[Soidog]

8 hours ago, JamesE said:

So, cede it to the Chinese? This is what's happening in Laos and it's not going to end well.

Fair point @JamesE . The whole world is literally sleepwalking in to a new Chinese empire which will last 1,000 years. 

[gummy]

2 minutes ago, Soidog said:

Fair point @JamesE . The whole world is literally sleepwalking in to a new Chinese empire which will last 1,000 years. 

1000 years, who else said that and was proven wrong ?

[JamesE]

51 minutes ago, gummy said:

1000 years, who else said that and was proven wrong ?

But they didn't have a 3,500 year track record going into it.

[Soidog]

7 hours ago, gummy said:

1000 years, who else said that and was proven wrong ?

He wasn’t Chinese though

[AlexPTY]

why would you worry about selling bankrupt business you cannot run to someone who want to give money for it? what a bunch of whining little bi$#Es

[MrStretch]

11 minutes ago, AlexPTY said:

why would you worry about selling bankrupt business you cannot run to someone who want to give money for it? what a bunch of whining little bi$#Es

You know how paranoid Thais are about foreign ownership?

They know that they are lightweights in the world when it comes to competence, industriousness, criticial thinking skills and the ability to adapt.  Foreigners, who possess those traits would eat Thailand up in a few well placed gobbles, and the Thais know it.

That's why they don't let foreigners own land.  If large sections of hotels were in foreign hands, they fear that those foreigners and their companies will divert tourists from their home countries into their own hotels, so all of the prophet  and benefit will be going to foreigner owners, not Thai owners.

[AlexPTY]

6 minutes ago, MrStretch said:

You know how paranoid Thais are about foreign ownership?

They know that they are lightweights in the world when it comes to competence, industriousness, criticial thinking skills and the ability to adapt.  Foreigners, who possess those traits would eat Thailand up in a few well placed gobbles, and the Thais know it.

That's why they don't let foreigners own land.  If large sections of hotels were in foreign hands, they fear that those foreigners and their companies will divert tourists from their home countries into their own hotels, so all of the prophet  and benefit will be going to foreigner owners, not Thai owners.

Yes agree. I had to form a Co. To buy the house. Then go through the legal gibba jabba to buy foreign quota condo. Money talks people, wake up 

[MrStretch]

You guys are talking about hotels and foreign ownership, right?

If not, then I'm confused, because that is what this thread started off discussing, the article about hotels in Thailand being possibly lost to foreign owners if the tourist economy continues in the toilet.

You do remember that article, eh?