Connect with us

Technology

Hotel investment group launches world’s first “green” hotel fund

The Thaiger

Published 

 on 

Hotel investment group launches world’s first “green” hotel fund | The Thaiger
  • follow us in feedly

Destination Capital, a hotel investment group in Bangkok, has announced that it will launch the world’s first ever “green” hotel fund. The fund will acquire hotels and implement sustainability systems and procedures to promote long term environmental and financial sustainability in investments using the EDGE certification programme. EDGE, an online platform, is an innovation of the International Finance Corporation, which helps property developers to build and brand “green” establishments in a fast and affordable way. EDGE is used by more than 170 countries and reportedly has kept almost 230,000 tonnes of carbon dioxide annually from entering the atmosphere.

DC’s fund, titled Descap I, is part of its efforts to acquire freehold, 4 star hotels in prime destinations all over Thailand. James Kaplan, the CEO of DC, says he sees opportunities to renovate hotels to accommodate “green” technology and systems due to the current Covid pandemic that has ravaged the tourism sector in the kingdom.

“Destination Capital’s adoption of the EDGE certification program will provide the Descap I with the opportunity to gain a competitive advantage by differentiating our products and improving carbon emissions of the hotels.”

“If there is one thing we have learned during Covid-19 it is that the environment and nature recover quickly from poor resource management practices. Our participation in EDGE will serve to encourage the hospitality industry to adopt best practices with respect to better managing our scarce resources, raise broader consciousness about global warming and stem the tide of environmental degradation. We will implement operational elements to reduce water consumption, reduce waste emissions, reduce electricity use, and to the best of our ability eliminate plastic usage.”

Descap I, is a Thai Private Equity Trust. The company partners with Private Equity and Institutional Funds to source hotel acquisition opportunities and manage assets in the Asia Pacific region, turning its main focus to Thailand.

SOURCE: Pattaya Mail

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
4 Comments

4 Comments

  1. Avatar

    Toby Andrews

    November 22, 2020 at 5:42 pm

    Yes Yes it’s for the environment.
    Dream up another sales pitch. This one has been done to death.
    Does this Destination Capital actually OWN any hotels?

    • Avatar

      Bobby m

      November 22, 2020 at 8:40 pm

      Probably the cloak under which hotels will now be bought up at extremely low prices by those that have, from those that now have not. I seem to remember somebody said this would happen.

  2. Avatar

    SG666

    November 22, 2020 at 8:04 pm

    Another investment scam.

  3. Avatar

    Ryan Lih

    November 22, 2020 at 8:28 pm

    I smell another scam! Caution! Pandemic will have the smart people thinking up funds and what-have. See what happened to the Filipino girl with Thai girl scamming local Thais.

Leave a Reply

Your email address will not be published. Required fields are marked *

If you have story ideas, a restaurant to review, an event to cover or an issue to discuss, contact The Thaiger editorial staff.

Pattaya

Pandemic has washed away Pattaya’s “soapy” massage parlours

The Thaiger

Published

on

Pandemic has washed away Pattaya’s “soapy” massage parlours | The Thaiger

While the Covid pandemic has hit Thailand’s businesses hard, it has also washed away its not-so-legal soapy massage parlours after tourism has dried up its clientele. Such places, known as glorified brothels, have left many masseuses out of work as boards have barricaded the once booming establishments.

Soapy Massage (àap-òp-nûat, อาบอบนวด, literally bath, steam, massage)…
These are the bigger massage parlours where girls are presented in the fishbowl and you get the full program (including sex) for a fixed price, depending on the girl starting from 1,500 and up to 5,000 Baht.

Only a few of the soapy services have survived the pandemic in Pattaya, with Honey Massage Parlour being one of them, according to The Pattaya Mail. After adjusting to the new requirements for social distancing, the business has re-opened on November 19. However, its largest shop has closed, once known as Honey 1 on Soi Honey, or Soi 11, the windows are dark and barricaded. Honey Inn is also up for sale.

25 year old masseuse Maywadee, says she used to work in such parlours where she would get a cut of the 1,500 to 2,500 baht fee. She says she used to see up to 7 clients a day, but now that number has been cut in half as Chinese and Japanese tourists, who were her largest group of customers have dwindled. Now, she is thinking about heading back to her home city of Chiang Mai, to sell handicrafts, as her Pattaya income has dried up.

Such parlours feature masseuses that are usually not native to the area, as many come from lower socio-economic areas such as Thailands northeastern provinces, otherwise known as Isaan. Many make the trip to tourist-driven cities like Pattaya, Koh Samui, Bangkok and others, in an attempt to make a higher salary than they would if they were back in Isaan.

SOURCE: The Pattaya Mail

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Business

Bank of Thailand takes action to curb Thai baht’s strength

The Thaiger

Published

on

Bank of Thailand takes action to curb Thai baht’s strength | The Thaiger

The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas and invest in foreign assets. It will also make is easier for Thai citizens to hold foreign currency in local banks. The new rules will also require the registration of local and overseas bond investors.

“Following the U.S. elections and positive news on Covid-19 vaccine development, investors have turned toward investing in emerging markets, including Thailand. The situation has resulted in strengthening the baht quickly and can impact economic recovery.”

“The registration of bond investors will allow close monitoring of investor’s behaviours and thereby enable the implementation of targeted measures in a timely manner.”

Last week the Bank of Thailand assessed that the Thai baht’s recent rapid gains could affect the country’s “fragile” economic recovery. The Thai government has called on the central bank to do its best to use what tools it has at its disposal to restrain the baht to protect exports.

Khoon Goh, head of Asia research at ANZ Banking Group, says that he central bank also will continue to resort to direct intervention in foreign-exchange markets.

“The issue here is that local investors have a very strong home bias. Making it easier to invest overseas may not actually encourage them to do so.”

The Thai baht has been the 2nd best performer in Asia this month after foreign investors turned net buyers of almost $2.4 billion of bonds and stocks as appetite returns for riskier emerging-market assets amid a weak dollar, according to Bloomberg.

The Thai baht had recently rallied 8.8% from this year’s low in April, hitting a 10 month high last week.

SOURCE: Bloomberg

This morning, Thai time…

Bank of Thailand takes action to curb Thai baht's strength | News by The Thaiger

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading

Economy

15 Asia-Pacific countries form the world’s largest trade bloc, the great RCEP reset

The Thaiger

Published

on

15 Asia-Pacific countries form the world’s largest trade bloc, the great RCEP reset | The Thaiger

After 8 gruelling years of negotiation, 15 countries have signed onto the largest free trade bloc in history. In a joint statement, the leaders of the countries, signatories of the trade deal, say RCEP (Regional Comprehensive Economic Partnership) will form a crucial part of economic recovery once the pandemic is over.

The deal excludes the US, which withdrew from a rival Asia-Pacific trade pact 3 years ago. President Donald Trump pulled his country out of the Trans-Pacific Partnership in 2017. That deal would have involve 12 countries and was supported by Mr Trump’s predecessor Barack Obama as a way to counter China’s surging power in the region.

Now, the leaders of China, Australia, Japan, New Zealand, South Korea and the 10 ASEAN nations, have signed the free trade agreement which covers 2.2 billion people and 30% of the world’s economic output. The new free trade bloc will be bigger than both the US-Mexico-Canada Agreement and the European Union.

The deal sets the terms of trade in goods and services, cross-border investment and new rules for increasingly important areas such as electronic commerce, telecommunications and intellectual property.

The leaders’ statement said the landmark trade pact “demonstrates our strong commitment to supporting economic recovery, inclusive development, job creation and strengthening regional supply chains as well as our support for an open, inclusive, rules-based trade and investment arrangement”.

The combined GDP of the signatories was about 30% of global GDP, covering nearly 28% of global trade.

India pulled out of negotiations last year because of concerns it would not be able to protect its domestic industry as well as its agricultural sector. India’s exclusion from the bloc reduces its size by some 1.4 billion people. But the statement from the signatories says the door is still open for India to join in and it would be “welcome”.

The deal is being seen as a significant step towards removing Asia Pacific trade barriers, and brings China under the fold of a larger regional bloc as its massive economy looks elsewhere for trading partners after the bruising US-China trade war.

Li Keqiang, the Chinese premier, says the deal is “a victory of multilateralism and free trade”. Australia’s PM, Scott Morrison, says the deal will “open up new doors for Australian farmers, businesses and investors”.

The trend for a more integrated trade flow around the region has suddenly accelerated amid the feuding between the US and China. The 2 economic superpowers had imposed billions of dollars of punitive trade tariffs on each other’s exports.

Analysts hail the RCEP agreement, saying that it’s flexible enough to stretch to fit the “disparate needs of member countries as diverse as Australia, Myanmar, Singapore and Vietnam”. But the agreement doesn’t establish unified standards on labour and the environment or force countries to open services and other vulnerable areas of their economies.

Donald Trump pulled the plug on negotiations when he pulled out of the Trans-Pacific Partnership, a deal previously which was seen as a way of curbing China’s economic influence. He later initiated the heated US-China trade war in 019 maintaining he wanted to reduce the amount of imports from China, saying the goods could be built back in the US.

15 Asia-Pacific countries form the world's largest trade bloc, the great RCEP reset | News by The Thaiger

Keep in contact with The Thaiger by following our Facebook page.
Never miss out on future posts by following The Thaiger.
Continue Reading
Thailand News Today | Army deny Twitter spin, “Don’t Reopen”, English proficiency low | Nov 27 | The Thaiger
Thailand3 days ago

Thailand News Today | Army deny Twitter spin, “Don’t Reopen”, English proficiency low | Nov 27

Thailand News Today | Shots fired, the yellow ducks, “no coup” promise | November 26 | The Thaiger
Thailand4 days ago

Thailand News Today | Shots fired, the yellow ducks, “no coup” promise | November 26

Thailand News Today | No vaccine, no flight, protest latest, smoking ban | November 25 | The Thaiger
Thailand5 days ago

Thailand News Today | No vaccine, no flight, protest latest, smoking ban | November 25

Thailand News Today | Holiday road toll, protests tomorrow, GDP recovery | November 24 | The Thaiger
Thailand6 days ago

Thailand News Today | Holiday road toll, protests tomorrow, GDP recovery | November 24

Thailand News Today | Dinosaurs in BKK, BOT tackles Baht, Special K isn’t special | November 23 | The Thaiger
Thailand7 days ago

Thailand News Today | Dinosaurs in BKK, BOT tackles Baht, Special K isn’t special | November 23

Thailand News Today | Bangkok exodus, Pattaya air pollution, Vaccine next month? | November 20 | The Thaiger
Thailand1 week ago

Thailand News Today | Bangkok exodus, Pattaya air pollution, Vaccine next month? | November 20

Thailand News Today | Protests to escalate, Domestic violence, Tourist visa exemptions? | Nov 19 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Protests to escalate, Domestic violence, Tourist visa exemptions? | Nov 19

Thailand News Today | Emergency Decree, Protesters shot, Baht boost temporary | Nov 18 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Emergency Decree, Protesters shot, Baht boost temporary | Nov 18

Thailand News Today | Protesters v Police, Quarantine reduction, VietJet passenger arrest | Nov 17 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Protesters v Police, Quarantine reduction, VietJet passenger arrest | Nov 17

Thailand News Today | The RCEP reset, Hotel Talkfest, Protesters to be arrested | November 16 | The Thaiger
Thailand2 weeks ago

Thailand News Today | The RCEP reset, Hotel Talkfest, Protesters to be arrested | November 16

Thailand News Today | Coconut Business, Weekend protests, Pork dressed as Beef | November 13 | The Thaiger
Thailand2 weeks ago

Thailand News Today | Coconut Business, Weekend protests, Pork dressed as Beef | November 13

Thailand News Today | More Thai Airways debt, Korean soldier, TripAdvisor warning | November 12 | The Thaiger
Thailand3 weeks ago

Thailand News Today | More Thai Airways debt, Korean soldier, TripAdvisor warning | November 12

Thailand News Today | PTT pays out, Revised visa requirements, Protester’s asylum | Nov 11 | The Thaiger
Thailand3 weeks ago

Thailand News Today | PTT pays out, Revised visa requirements, Protester’s asylum | Nov 11

Thailand News Today | Thai official positive, Head-butt latest, protest letters | November 10 | The Thaiger
Thailand3 weeks ago

Thailand News Today | Thai official positive, Head-butt latest, protest letters | November 10

Thailand News Today | Golf STVs, Russian head-butted, protest latest | Nov 9 | The Thaiger
Thailand3 weeks ago

Thailand News Today | Golf STVs, Russian head-butted, protest latest | Nov 9

Follow The Thaiger by email:

Trending