Phuket Hotels for Sale from One-2-Property

One-2-Property www.12property.com has 2 beachfront resorts and 1 central Patong Hotel for sales in the tourists hot spot of Phuket Thailand. Phuket flight bookings are up 32 per cent, this year and many see it as being a booming high season despite the worlds economic woes.

French hotel group Accor said on Thursday it will open about 100 hotels in the Asia Pacific over the next 24-30 months, as it remains committed to expansion despite expectations of a tourism slowdown.

The group, which operates around 370 hotels in the region, expects the global economic slowdown to hurt the region’s tourism markets next year and said the financial crisis will mainly disrupt projects scheduled for completion after 2010.

“Nobody builds hotels for next year. They build for the next 20, 30, 40 years. I don’t see a lot of projects being cancelled although there will be delays,” Accor’s Asia Pacific chairman Michael Issenberg told Reuters in an interview.

“It has more to do with financing than the underlying economics,” he added.

Hotels due to open in the next two years will materialise as planned as construction has begun and the funding and management contracts were in place. But projects scheduled to come onstream in 2011 and 2012 will likely face delays because of problems in obtaining financing.

“There is not a lot of lending but eventually banks will start lending again because that is their business.”

Issenberg said China and India remained Accor’s main target markets in Asia, and that many of the hotels it will open in the next few years will carry the “Ibis” brand name which is targeted at budget travellers.

Accor, whose other major hotel brands include Sofitel, Novotel and Mercure, earlier this month posted a 5.4 percent decline in sales for the nine months to September and lowered the target for its full-year profit due to the slowdown in the global economy. [ID:nMIC659204]

Within Asia, Issenberg said the weakness had been felt in China, in particular Beijing, where there had been a sharp rise in the number of new hotels. China’s decision to tighten visa requirements ahead of the Olympics also hurt visitor arrivals.

Room rates in Thailand have also been soft, primarily due to political concerns that had hit not just Bangkok but also the island resort of Phuket, he added.

Posted by admin on Oct 30th, 2008 and filed under Phuket Developers, Phuket Travel, Real Estate. You can follow any responses to this entry through the RSS 2.0. You can leave a response by filling following comment form or trackback to this entry from your site

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