I was dissapointed to learn that Minor International, developer and operator of multiple hotel brands in Thailand, has put two new projects worth a combined Bt6 billion on hold due to the global recession. one of these resorts being in Khao Lak.
"I have seen nothing that will help the country see a recovery," said group chairman and CEO William Heinecke, adding that the hotel sector might recover in the third quarter.
The decision to halt the two hotel projects, scheduled to start this year for opening in 2011 and 2012, follows a decrease in the group's occupancy rate from 85 per cent last year to 60 per cent so far this year, due to the global economic crisis.
Heinecke expects 14 million tourist arrivals this year, unchanged from last year and slightly below the Tourism Authority of Thailand's forecast of 14.5 million. He said many tourists could not book seats to Thailand for peak seasons like Songkran, because of reduced flight frequencies.
In my opinion the original hotel in Khao Lak was a real jewell in the crown for the brand and I was looking forward to it's return. I hope the term 'on hold' means that it could still be released.