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Baht/$ 34.57/62 (Bid/Ask)
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13,100
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HOTELS
BOONSONG KOSITCHOTETHANA
Thailand's political turmoil is taking a toll on Bangkok's most famous hotel, with only half of its 393 luxurious rooms rooms filled in the next two months and the potential of 120 million baht in revenue losses.
The Mandarin Oriental Bangkok, as te hotel is now known following a recent rebranding, is looking at 50% occupancy for September and October, against 70% projected earlier, according to general manager Kurt Wachtveitl.
The 130 year-old-hotel, managed by Hong Kong-based Mandarin Oriental Hotel Group (MOHG), also reports many cancellations of corporate meetings, local parties and banquets in the two-month period.
The current political tension is expected to depress the hotel's occupancy for all of 2008 to 67% from more than 70% originally expected, the veteran hotelier said.
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| Wachtveitl: No stranger to political strife. |
That would still be an improvement from the 66% figure seen last year.
''Thailand's current political conflict has of course affected most markets especially Asia, Japan and Australia where the developments here made headline news,'' he said.
''Our hotel did extremely well until the political crisis erupted,'' he said, noting profits were up 22% year-on-year in the first eight months.
However, he noted that advance bookings for Chrismas and New Year, when the hotel's rooms and food and beverage outlets are normally packed, remain intact.
Having gone through as many as 10 coups throughout his 40-year career at the hotel, Mr Wachtveitl believes the current political unrest will hurt business for only a few months.
''Travellers who know Thailand would still come _ just stay away from protest sites,'' he added.
Meanwhile, he said that the two-year, 500-million-baht plan to renovate rooms and upgrade the hotel's Thai restaurant is continuing.
The rebranding, meanwhile, will create a closer link with MOHG and bring benefits from the international brand equity the group holds, especially in newer markets such as Russia, India, China and the Middle East where Mandarin Oriental's presence will grow in the future.
MOHG plans to expand from the current 22 hotels to 40 by 2010.
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