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	<title>Andaman Times &#187; Business</title>
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	<link>http://www.andamantimes.com</link>
	<description>- the Community Newspaper to the Andaman Coast of Thailand</description>
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		<title>Phuket&#8211;the real deal</title>
		<link>http://www.andamantimes.com/phuket/phuketthe-real-deal/</link>
		<comments>http://www.andamantimes.com/phuket/phuketthe-real-deal/#comments</comments>
		<pubDate>Sun, 15 Aug 2010 21:18:31 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Phuket]]></category>
		<category><![CDATA[Real Estate]]></category>

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		<description><![CDATA[Of the 22 markets listed in a new property report targeting wealthy property buyers in Europe looking for a residence abroad, Phuket and Mauritius are the real deals at 3,000 euro a square meter.&#160; A used home in Monaco costs on average of 45,000 euro a square meter, or about $57,000, making the principality the most expensive market in the world. For jaw dropping prices and extravagance, Monaco is still the champ, according to the latest Prime International Residential Review from Chesterton Humberts. A used home in Monaco costs on average of 45,000 euro a square meter, or about $57,000, making the principality the most expensive market in the world. In contrast to the opulent markets of the Mediterranean, New York wades in at a fairly pedestrian 15,500 euro a square meter, with Paris a bargain at 13,500, according to Chesterton Humbert. Of the 22 markets listed, Phuket and Mauritius are the real deals at 3,000 euro a square meter.&#160;&#160; One thing is not in dispute: Even with a sluggish economy, prices in the top spots are unlikely to drop any time soon. The number of millionaires around the world grew 14 percent in 2009, and their total worth jumped [...]]]></description>
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		<title>New losses for Banyan Tree</title>
		<link>http://www.andamantimes.com/business/new-losses-for-banyan-tree/</link>
		<comments>http://www.andamantimes.com/business/new-losses-for-banyan-tree/#comments</comments>
		<pubDate>Sat, 14 Aug 2010 08:20:06 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Bang Tao - Laguna]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Hotels]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/business/new-losses-for-banyan-tree/</guid>
		<description><![CDATA[Luxury resorts operator Banyan Tree has sunk deeper in the red for the second quarter, more than doubling its losses on-year to 9.2 million Singapore dollars (214 million baht). The Phuket property, which was sold this week, helped keep the&#160; revenues up. China is the next growth market for the resorts operator where it hopes to tap into the potential of the Chinese upper middle income group. There has been strong response to the Banyan Tree China Hospitality Fund, valued at US$150 million. The company anticipates a first close of the fund in September, and possibly a second China fund. “We have more than 60 per cent of our total assets in Thailand, and in the past, we thought that we would not actively divest; (so) we would just reduce that mix by growing elsewhere. We would hope to get it to be below 50 per cent for sure over the next few years,&#34; Banyan Tree Holdings executive chairman Ho Kwon Ping said. “As a result of what has been happening, we decided to accelerate this whole process, not just by growing elsewhere, but also by actively reducing that concentration in Thailand.&#160; Under the terms and agreement for China funds, [...]]]></description>
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		<item>
		<title>Phuket falling on “Asia’s Best Islands”</title>
		<link>http://www.andamantimes.com/travel/phuket-falling-on-asias-best-islands/</link>
		<comments>http://www.andamantimes.com/travel/phuket-falling-on-asias-best-islands/#comments</comments>
		<pubDate>Fri, 13 Aug 2010 15:51:21 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Krabi]]></category>
		<category><![CDATA[Travel]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/travel/phuket-falling-on-asias-best-islands/</guid>
		<description><![CDATA[Two hotels from the Andaman region is making it to the annul best list from Travel &#38; Leisure. Another from Krabi is on the watch list. The two hotels from Phuket are the Amanpuri (#13) and JW Marriott Phuket Resort &#38; Spa on number 15. Phuket&#8217;s Amanpuri is the very first Amanresorts property and, perhaps, the loveliest. Guests may book one of 40 rooms or 30 villas and dine in either of the 2 restaurants before hitting the property&#8217;s bar. Villas come with a private pool, a driver, a gardener and two maids. Wet bathing suits seem to magically dry and fold themselves as evidence of the property&#8217;s commitment to inconspicuous service. Phuket is falling on the list over Asia’s best islands from a 3rd place last year to a distant 5th this year. Phuket has the second lowest score of all islands covered in the annual list. Molokai of Hawaii has a slightly lower score. Galápagos Islands is the clear winner. It is an archipelago of volcanic islands distributed around the equator in the Pacific Ocean, 972 km&#160; west of continental Ecuador, of which they are a part. It is a UNESCO World Heritage site: wildlife is its most [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>World Sales Record for Asia Asia</title>
		<link>http://www.andamantimes.com/phuket/world-sales-record-for-asia-asia/</link>
		<comments>http://www.andamantimes.com/phuket/world-sales-record-for-asia-asia/#comments</comments>
		<pubDate>Thu, 12 Aug 2010 17:08:38 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Aviation]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Krabi]]></category>
		<category><![CDATA[Phuket]]></category>
		<category><![CDATA[Tourism]]></category>

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		<description><![CDATA[AirAsia achieved another world record, this time by selling more than 500,000 seats in 24 hours. Air Asia sold a record-breaking 538,000 seats on Wednesday, the first day of its Mind Blowing Fare campaign, which offers 10 baht airfares for domestic and international flights. AirAsia bested its previous record of 390,000 seats sold in a day, achieved when it ran its Free Seats campaign across the entire AirAsia Group (AirAsia Berhad, Indonesia AirAsia and Thai AirAsia) last November. Also, AirAsia recorded its highest number of seat sales in an hour, selling 36,871 seats, a 47.5% increase from the previous record of 25,000. The ongoing Mind Blowing Fare promotion offers Baht 10&#160; airfare for bookings made from 10 – 15 August 2010 for travel between 1 April and 11 August 2011. AirAsia credits New Skies, its new state-of-the-art booking system, for achieving the record-breaking numbers. New Skies, launched by the airline last month, has greatly expanded the airline’s booking capacity, allowing up to almost 1 million flight bookings a day. The Mind Blowing Fare is AirAsia’s first major promotion using the New Skies system. The successful sale of more than half a million seats in the ongoing promotion shows that the [...]]]></description>
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		<title>Dusit Laguna Phuket sold</title>
		<link>http://www.andamantimes.com/business/dusit-laguna-phuket-sold/</link>
		<comments>http://www.andamantimes.com/business/dusit-laguna-phuket-sold/#comments</comments>
		<pubDate>Wed, 11 Aug 2010 06:21:07 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Bang Tao - Laguna]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Hotels]]></category>
		<category><![CDATA[Banyan Tree]]></category>
		<category><![CDATA[Dusit]]></category>

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		<description><![CDATA[One of the first five star hotels built in Phuket in the mid 1980s has been sold. Dusit Thani Laguna Phuket, one of the anchor hotels in the Laguna complex, has been sold for 2.62 billion baht today. Luxury resorts operator Banyan Tree Holdings says one of its subsidiaries is selling a hotel asset in Thailand for some 81 million USD. The subsidiary, Laguna Resorts &#38; Hotels, is selling the “Dusit Thani Laguna Phuket” in Phuket to Dusit Thani Public Company. The sale proceeds amount to about 2.7 times the book value of the hotel being sold. The buyer is Dusit Thani Public Company Limited. In its “Information Memorandum”, the company says, is in line with its strategy of diversifying its assets away from Thailand, given the increased political risk that Thailand presents. The firm has a heavy representation of Thai hotel properties amongst its assets. Proceeds from the sale may be used for overseas investments, repayment of bank loans, and/or payment of dividends to shareholders. Laguna Resort and Hotels PCL announced it is to divest its Dusit Thani Laguna Phuket hotel, consisting of land, buildings, plant and machinery for THB 2,620,000,000. The Company stated it needs the funds for [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<item>
		<title>Hotel Rate Debate Raises Awkward Issues</title>
		<link>http://www.andamantimes.com/travel/hotel-rate-debate-raises-awkward-issues/</link>
		<comments>http://www.andamantimes.com/travel/hotel-rate-debate-raises-awkward-issues/#comments</comments>
		<pubDate>Thu, 05 Aug 2010 20:26:48 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Featured]]></category>
		<category><![CDATA[Hotels]]></category>
		<category><![CDATA[Travel]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/travel/hotel-rate-debate-raises-awkward-issues/</guid>
		<description><![CDATA[Dropping rates to fight Bangkok&#8217;s low hotel occupancies and airline load factors is a failed strategy. But Thailand seems doomed to repeat its history of pricing mistakes due to a myriad of issues. These were some of the insights revealed by travel industry leaders with long and bitter experience in Thailand&#8217;s travel industry price wars. They were addressing a debate entitled, &#34;Rates Versus Value: Are We Going Off the Deep End?&#34; organized by the PATA Thailand Chapter, 28 July in Bangkok. Luzi Matzig, Group CEO of Bangkok-based Asian Trails, told the debate audience of 70 travel industry professionals gathered in a special meeting zone of Siam Ocean World: &#34;As soon as crisis hits, some overseas tour operators behave like vultures trying to make money out of it.&#34; Matzig said it was common practice for some overseas operators to use strong arm tactics to negotiate a 50% decrease in rates. They then pocket 20% and only pass on a 30% reduction to the paying customer. Jim Reed, CEO of Destination Asia told the audience such operators did not deserve the name of so-called &#34;friends of Thailand&#34;. Chanin Donavanik, CEO of Dusit International, complained that too many business families in Thailand see [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<item>
		<title>More Cash for THAI</title>
		<link>http://www.andamantimes.com/phuket/more-cash-for-thai/</link>
		<comments>http://www.andamantimes.com/phuket/more-cash-for-thai/#comments</comments>
		<pubDate>Wed, 04 Aug 2010 07:36:27 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Aviation]]></category>
		<category><![CDATA[Business]]></category>
		<category><![CDATA[Phuket]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/phuket/more-cash-for-thai/</guid>
		<description><![CDATA[Thailand&#8217;s Finance Ministry expects to inject THB7.5 billion&#160; in the upcoming recapitalization of Thai Airways International&#160; in a move to maintain its 51% stake in the national carrier. According to Dow Jones Newswires, the Finance Ministry has already prepared the funds for the recapitalization, which is expected to take place in late September. Thai Airways will conduct a roadshow to investors in early September in a move to attract investors for its THB15 billion fund raising. Thai Airways and Tiger have have signed a memorandum of understanding to launch Thai Tiger Airways, new low-cost airline should be operational by first quarter 2011. Based in Bangkok, the carrier will operate domestic and international routes and will operate under the business model of the low-fare part of the Tiger Airways Group. “Thai will hold 51% share of the new company”, said president of Thai Airways Piyavasti Amranand &#8211; while the remaining 49% will remain in the hands of Tiger Airways. “This company has proven to be the correct approach to the market to compete low-cost market in Asia and we are pleased to have made this agreement”. The board of the new carrier will be composed of five members, three from Thai [...]]]></description>
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		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Marriott offers added miles and savings</title>
		<link>http://www.andamantimes.com/phuket/thailand-travelers-can-enjoy-extra-savings-bonus-miles-and-exquisite-resort-accommodations-when-booking-their-stay-at-the-renaissance-phuket-resort-spa-a-standout-among-beach-resorts-in-phuket/</link>
		<comments>http://www.andamantimes.com/phuket/thailand-travelers-can-enjoy-extra-savings-bonus-miles-and-exquisite-resort-accommodations-when-booking-their-stay-at-the-renaissance-phuket-resort-spa-a-standout-among-beach-resorts-in-phuket/#comments</comments>
		<pubDate>Wed, 04 Aug 2010 07:01:14 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Featured]]></category>
		<category><![CDATA[Hotels]]></category>
		<category><![CDATA[Mai Khao]]></category>
		<category><![CDATA[Phuket]]></category>
		<category><![CDATA[Promotions]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/phuket/thailand-travelers-can-enjoy-extra-savings-bonus-miles-and-exquisite-resort-accommodations-when-booking-their-stay-at-the-renaissance-phuket-resort-spa-a-standout-among-beach-resorts-in-phuket/</guid>
		<description><![CDATA[Great beachfront accommodations and legendary Thai hospitality make the Renaissance Phuket Resort &#38; Spa an oasis for comfort and relaxation and now home to the Quan Spa, a getaway in itself with a complete offering of spa services, including massages, facial treatments, body scrubs, manicures and more. Featuring unique architectural design and a contemporary atmosphere, this Renaissance property is one of the most distinctive among boutique Phuket resorts, offering oversized guest rooms with stunning landscape views, individual climate controls, plush bedding ensembles, high-speed Internet access, flat-screen televisions with DVD players and cable TV. Guests are also provided with cozy robes and slippers for a home-like atmosphere; and complimentary coffee and tea service is provided. Although just 10 miles from Phuket International Airport, this resort is secluded within itself and adorned by glimmering white sand beaches that give it the atmosphere of being miles away. The resort offers a variety of Phuket fine dining options and is home to five upscale restaurants with menus that include a variety of local specialties along with international cuisine. Loca Vore is a featured restaurant that provides guests the opportunity to choose their menus selections from the fresh harvest of local ingredients and the chef [...]]]></description>
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		<slash:comments>1</slash:comments>
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		<item>
		<title>The Bulls Return to Thailand</title>
		<link>http://www.andamantimes.com/news/the-bulls-return-to-thailand/</link>
		<comments>http://www.andamantimes.com/news/the-bulls-return-to-thailand/#comments</comments>
		<pubDate>Tue, 03 Aug 2010 20:29:58 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Macro]]></category>
		<category><![CDATA[News]]></category>
		<category><![CDATA[set]]></category>
		<category><![CDATA[thailand]]></category>

		<guid isPermaLink="false">http://www.andamantimes.com/business/the-bulls-return-to-thailand/</guid>
		<description><![CDATA[The Thai stock market has been the best performing of the biggest Asian markets since May. The SET index has increased by more than 20 percent since its May low. “Foreigners are starting to invest in Thai equities again on strong earnings and economic growth,” Supakorn Soontornkit, chief investment officer at MFC Asset Management Pcl, which oversees $7.5 billion, said in an interview in Bangkok with Bloomberg. Khun Supakorn adds that the return of overseas investors will be the main factor driving share prices. Overseas investors bought a net 8.1 billion baht ($252 million) of Thai shares in the past six trading sessions, the largest six-day purchase in almost four months, according to data compiled by Bloomberg. Foreigners sold 58.7 billion baht of domestic stocks in May, a record monthly selloff. Thailand’s finance ministry said last week it expects the economy, Southeast Asia’s largest after Indonesia, to grow 8 percent in the second quarter, even after clashes between troops and anti-government protesters in April and May claimed 89 lives in the nation’s worst political violence in 18 years. Investors should buy the “under-owned” stock markets after India led foreign investment into Asian emerging markets, according to Credit Suisse Group AG [...]]]></description>
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		<slash:comments>0</slash:comments>
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		<title>New award to Mom Tri</title>
		<link>http://www.andamantimes.com/travel/new-award-to-mom-tri/</link>
		<comments>http://www.andamantimes.com/travel/new-award-to-mom-tri/#comments</comments>
		<pubDate>Mon, 02 Aug 2010 21:03:00 +0000</pubDate>
		<dc:creator>editor</dc:creator>
				<category><![CDATA[Business]]></category>
		<category><![CDATA[Eat & Dine]]></category>
		<category><![CDATA[Kata]]></category>
		<category><![CDATA[Lifestyle]]></category>
		<category><![CDATA[Travel]]></category>
		<category><![CDATA[mom tri]]></category>

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		<description><![CDATA[Once again Mom Tri&#8217;s gourmet restaurants have been honoured by the prestigious Wine Spectator.&#160; For the fifth consecutive year Mom Tri&#8217;s Boathouse is again sole winner in Phuket of the Wine Spectator &#8216;Best of Award of Excellence&#8217;. Mom Tri&#8217;s Kitchen &#8211; also for the fifth consecutive year &#8211; and Mom Tri&#8217;s Oasis for the second consecutive year have won the &#8216;Award of Excellence&#8217;. Newly opened, New York Times&#8217; recommended Mom Tri&#8217;s Boathouse Regatta, celebrates winning its first &#8216;Award of Excellence&#8217;. What does it take to get a Wine Spectator Award &#8230; or four? Georges Ciret, Wine Director of Mom Tri&#8217;s gourmet restaurants elaborates. “We are proud and delighted with these awards. It has been a long process that started more than 20 years ago with the creation of Phuket&#8217;s first wine cellars. Mom Tri could not imagine owning a restaurant without a fully equipped wine cellar.” Mom Tri&#8217;s passion drove him to reach for the best. He spared no expense to create a wine cellar that received accolades from international wine experts. Today Mom Tri&#8217;s Kitchen lists over 350 wines and the Boathouse 820, including a Romanée-Conti Grand Cru &#8217;91 and Châteaux Latour &#8217;82. &#34;Our price range is broad in [...]]]></description>
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