NEWS ALERT Bangkok Holiday Inn Shuts Down

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Posted: 20 Apr 2010 | 7:27 am

This just in from The Nation, Bangkok's Holiday Inn located near the Ratchaprasong intersection has been temporarily shut down after occupancy dropped to a reported 2%. A number of nearby luxury properties are also seeing plunges in occupancy down in the 10-20% mark.

Our call placed to the hotel as this story was written confirmed that guests are being relocated to the Holiday Inn Silom and bookings not accepted.

The continued 'red shirt' occupation of Bangkok's key commercial and hotel district is taking its toll on business. Hospitality, property and retail firms listed on the SET (Stock Exchange of Thailand) are seeing a hit in share prices due to the prolonged political strife.

While a new multicolor pro Government set of supporters have now hit the streets, there are now concerns over a possible convergence of the two groups which could result in further violence.

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