AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Thai Property Developer to Focus on Home-Front Hotel Projects.
Byline: Nondhanada Intarakomalyasut
Nov. 8--Pacific Assets Plc, a Bangkok-based property developer, has responded to growing uncertainty about tourism by deferring planned investments overseas to focus on local ventures.
The company plans to invest between US$30 million and $40 million to develop hotels in Pattaya and Hua Hin over the next two years, saying Thailand's stability would likely help its tourism industry weather the current downturn.
In the post-Sept 11 era, the company had put off a plan to acquire a five-star hotel in Bali, said Alex Ho, Pacific Assets' chief executive officer.
"We had looked to be a regional player by placing a significant investment in Bali, which would create a better portfolio for us because Bali could complement our properties in Phuket. But we have decided to hold the Bali investment until the situation clarifies itself," Mr Ho said.
One leading hotel in Bali has had only a 16 percent occupancy rate since the Sept 11 events, he said.
Pacific Assets currently owns and operates 14 properties in Thailand including three five-star resort hotels: Le Meridien Phuket, Le Royal Meridien Phuket Yacht Club and Le Royal Meridien Baan Taling Ngam on Ko Samui.
- Thai businesses note varying impacts from tsunami.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) December 28, 2004 700+ words
...Laguna Resort Phuket and said business at the hotel may be adversely affected in the short term. -- Pacific Assets said Le Royal Meridien Phuket Yacht Club had sustained only minor damage to one of its restaurants and some flooding. No guests...
- Thai Developer Goes on Ailing-Asset Buying Spree.
- Newspaper article from: Knight Ridder/Tribune Business News October 13, 2003 700+ words
...more shares in Pacific Assets, possibly raising...50 percent. Pacific Assets owns seven premium...properties -- Le Meridien Phuket Beach Resort, Le Royal Meridien Phuket Yacht Club...Sermsin said Pacific Assets would be a source...
- Thai Property Developer to Focus on Home-Front Hotel Projects.
- Newspaper article from: Knight Ridder/Tribune Business News November 8, 2001 700+ words
...he said. Pacific Assets currently owns...hotels: Le Meridien Phuket, Le Royal...suites at Le Meridien Phuket, according...Pamomontri, Pacific Assets' managing...at Le Royal Meridien Phuket Yacht Club...
- Global Telephone Communication Inc. Announces Acquistion of Pacific Assets...
- Press release article from: Business Wire March 29, 1999 700+ words
...1999--Global Telephone Communication Inc. (OTC Bulletin Board: GTCI) today announced that it has acquired 51% of Pacific Assets International Ltd. (PAI) for 600,000 restricted common shares of GTCI. PAI, an Asian-based consulting firm, is...
- Make your voices heard, SEC tells Natural Park, Pacific Assets shareholders.
- Newspaper article from: Bangkok Post (Bangkok, Thailand) September 8, 2004 700+ words
Sep. 8--The Securities and Exchange Commission has urged shareholders of Natural Park and Pacific Assets to exercise their voting rights regarding the planned merger of both companies. Any merger would need to be approved by 75 percent...
- Duke completes sale of Asia-Pacific assets.(Duke Energy Corp.)(Brief Article)
- Magazine article from: Pipeline & Gas Journal June 1, 2004 700+ words
Duke Energy has completed the stile of its Asia-Pacific energy assets to Alinta Ltd. The $1.2 billion sale includes all of Duke Energy's assets in Australia and New Zealand. "With the completion of this sale, we have reached our 2004 asset divestiture target less than six months into the year,"
- Duke Energy Completes Sale of Asia-Pacific Assets.
- Press release article from: PR Newswire April 23, 2004 700+ words
Duke Energy today announced it has completed the sale of its Asia-Pacific energy assets to Alinta Ltd. (Photo: httpwww.newscom.com/cgi-bin/prnh/20040414/DUKEENERGYLOGO ) The share sale, announced in March, totaled US $1.238 billion (A $1.69 billion) and includes all Duke Energy's assets in
- DUKE ENERGY ANNOUNCES AGREEMENT TO SELL ASIA-PACIFIC ASSETS.
- News wire article from: AsiaPulse News March 15, 2004 700+ words
(Full text of a statement, contact details below) CHARLOTTE, N.C., March 14 /PRNewswire-FirstCall-AsiaNet/ -- Duke Energy announced today it has executed a share sale agreement with Alinta Ltd. to purchase Duke Energy's Asia-Pacific energy assets for US$1.238 billion (A$1.69 billion). The sale will
