At least 22 hotels on the block – Colliers

The slump in Thailand’s tourism industry has resulted in at least 22 hotels in Bangkok worth a combined 17 billion baht being offered for sale, according to Patima Jeerapaet, managing director of the property consultant Colliers International Thailand.

One of the properties on the block is valued at around 3 billion baht while the average price is 800 million. Sizes and locations vary but include some in the inner city and by the Chao Phraya River.

Mr Patima said the asking prices that used to be higher than market values were now climbing down closer to what buyers were offering, but few deals have been sealed.

(Bangkok Post)