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Mass exodus to Hua Hin and Pattaya
Report from Bangkok Post dated 27 October 2011 :-
Mass exodus to Hua Hin and Pattaya
Bangkok residents fleeing the floods are fast filling up budget hotels in the resort towns of Hua Hin and Pattaya.
As the flood threat mounts, some families already sent their children and elderly members out of the city, said Risinee Sarikaputra, associate director for research and valuation with the property agency Knight Frank Thailand.
Cha-am and Hua Hin are popular as more city residents have second homes in these resorts than Pattaya.
While hotels in resort destinations are almost full, few expect a revenue windfall as most are slashing prices to help those affected by floods, and the spending power of Thais is lower than that of foreigners, said Ms Risinee.
The occupancy rates of luxury hotels have been stable but some have seen falling demand since international visitors have been cancelling bookings.
Hotels with the highest occupancy rates are economy and budget properties charging 1,500 to 2,500 baht per night.
Aliwassa Pathnadabutr, managing director of CB Richard Ellis Thailand, said many Bangkok residents are moving to their home provinces.
"Through our Pattaya and Hua-Hin operations, we are seeing a rapid rise in bookings for serviced apartments and hotels in both locations, particularly since the past weekend," she said.
Somsakul Limsuttaphan, assistant managing director of Plus Property Co, reports 150 inquiries to book short-term rental homes for one to two months. Rates range from 25,000 to 55,000 baht a month.
Knight Frank found the occupancy rate of Bangkok serviced apartments has risen, especially for buildings with above-ground parking. Lower bookings from international visitors are being offset by bookings from local residents, albeit at slightly lower rates.
Some expatriates have decided to go back to their home countries and others are relocating to Pattaya.
Many companies have rented hotel rooms near their offices for their staff and expatriates, with hotels near the airport showing high occupancy
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