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The crackdown on zerodollar tours affects hotel performance

Tourism will continue to be one of the few bright spots for the Thai economy. “We believe the effect of the crackdown on zerodollar tours will be short-lived”, according to CBRE. The crackdown on Chinese “zero-dollar” tours slowed down the number of tourist arrivals in Q4. The average growth was …

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Phuket luxury villa market remained slow

Only two luxury villas were sold in the last quarter of last year: one in The Residence by Anantara in the THB 200- 500 million range and the other one in Sri Panwa Luxury Pool villa in the THB 200-300 million range. “We believe that the overall Phuket villa market will …

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Royal Phuket Marina sees upswing in waterfront condominium re-sales

Following Royal Phuket Marina’s announcement of an exciting new Master Plan, interest in freehold condominium resales has increased exponentially with Royal Phuket Marina’s Real Estate Brokerage confirming three recent transactions during what is traditionally Phuket’s tourism and real estate low season. More are in the pipeline. The Master Plan created …

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Royal Phuket Marina for sale

Following serious interest from an international buyer, Royal Phuket Marina Chairman, Mr. Gulu Lalvani, has decided to officially put the development on the market. As exclusive advisor, JLL will handle the sale through an expression of interest campaign closing September 2016. Strategically located on the east coast of Phuket with …

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IKEA celebrating success in Phuket

It is nine months since IKEA opened its pick-up store at the bypass road in Phuket. Foreigners on the island love it; 75% of shoppers are foreigners and 25% are Thai. Over 90% of Thai customers are from Phuket, and 4% from Phang-nga. Led by Mr. Nontacha Ketwetsuriya, Store Manager of …

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Outrigger expands with new director of marketing

Outrigger Enterprises Group has appointed Eugene Oelofse as Director of Marketing and eCommerce, Asia Pacific, effective June 1. Eugene will be based in the Outrigger Asia Pacific office in Phuket, Thailand, and will report to Mark Simmons, VP Sales & Marketing, Asia Pacific. Oelofse, from South Africa, brings 13 years’ …

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High passenger growth at Phuket airport

Phuket was one of the few airports in Asia-Pacific and the Middle East that recorded substantial growth in passenger traffic in April, according to Airports Council International (ACI). Thailand’s third-busiest airport saw its April passenger volume rise by 21.7% year-on-year. According to AOT’s airport statistics, Phuket airport showed the strongest growth …

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Fears “Brexit” can trigger property slide in Phuket

Bill Barnett of C9Hotelworks fears that the “Brexit” can trigger an island property slide as the pound has fallen. “The financial sector does not like volatility and the virtual Pandora’s Box of geopolitical fallout is likely to be a significant disruptor”, write Barnett in an update. In Phuket during the …

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