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Posted: 25 Aug 2010 | 6:00 am
Singapore listed hospitality group Banyan Tree sustained an approximate THB 210 million loss in the second quarter of the year. Revenue for the period only increased by 2%
While the group attributes stabilized trading for Phuket and the Maldives, it noted a global travel impact from the Iceland volcanic crises which hit international travel and impact from the football world cup which affected trading results.
According to reports in the financial press, it intends to continue to reduce exposure in the volatile Thai market and which sustained economic damage through the April and May 'red shirt' crises and look to further growth in a second China investment fund.
Currently the group has an Indochina fund for its Laguna Hue project which is fully subscribed and the initial Banyan Tree China Hospitality Fund is moving toward formation with its capital raising efforts providing confidence to look into a second fund in 2011.
For now clearly China leads Banyan Trees growth agenda.
A column featuring environmental issues and conservation around the island. Click here for more Green Reports check out the latest story from the leading experts:
A recent Channel News Asia television segment Boomtown Asia checked into the island's environmental, and sustainable tourism sectors.
The innovative Evening Breeze environmental cooling system is gaining global attention in the resort markets and villas.
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