For some months now, crowds have been gathering daily without fail in front of the Siam Paragon mall in central Bangkok. But unlike the Red Shirt protests that paralysed one of the city’s most important commercial arteries earlier this year, the hubbub has far from caused the Thai parliament sleepless nights or the military to send out crack troops. The long and snaking queue, formed since the early morning hours, consists of die-hard Krispy Kreme fans, who come away triumphantly from the shop with bags of sweet booty.
At CentralWorld nearby, the “Let’s Celebrate 2011” promotion is in full swing, an effort to get consumers, spooked by a year full of political instability and natural calamities such as the recent flooding in the south, to loosen their grip on their wallets. Shoppers strolling through the mall’s stylish corridors will notice nothing of the damage caused by arsonists, who torched the building, along with several others, on May 19 after leaders of the United Front for Democracy surrendered to the government, ending the months-long occupation of the Ratchaprasong intersection.
Central Pattana, CentralWorld’s owner and the country’s biggest mall operator, spent US$92 million on a rush refurbishment, managing to reopen about 80 percent of the complex on September 28 in lively ceremonies officiated by Buddhist monks and witnessed by a thick crowd eager for their retail fix.
A sign now stands in front of the complex, exhorting one and all: “May this rebuilding bring peace and prosperity to Thailand”.
The message is clear: after the discord, let’s shop. Bangkok is so back to normal.
After 22 years in Asia, 11 years spent residing in Thailand, Judy Benn regards the downtown takeover earlier this year with pragmatism borne out of living in the eye of the typhoon and yet managing to strike a happy and productive life-work balance. This mother of a 10-year-old daughter and executive director of the American Chamber of Commerce of Thailand said: “Of course, our families and friends had a right to be concerned, watching what was on TV. But I never felt threatened. The reality was, life went on as usual.”
Living in the region, Benn, like most expatriates, had to adjust her benchmark of what she was accustomed to. “The Ratchaprasong occupation would never have happened in New York. The police would have been sent in immediately to clear out the place,” she admitted.
“Here, Ratchaprasong was closed off for months, but unless you were right in the area it was not an inconvenient situation. In fact, it was like a street fair – lots of women and children and lots of people selling food and giving massages.”
Benn’s years of experience dealing with different cultures, especially in Thailand where “giving face” and protracted negotiations are the norm, put her in the best position to calm jittery AmCham members during volatile periods. “Some of them had just moved here and weren’t used to what was happening – even my younger brother told me to consider going back to the US,” she recalled.
Her advice to those who were rattled by the mass protests was “to move” and “not to pay unnecessary visits to rally sites“.
“This was no spectator sport,” she said, “and you might have been putting your life into your own hands by going [to Ratchaprasong] because anything could have happened.”
Benn had to vacate her home near the Dusit Thani Hotel and stay with friends when the military build-up in the area signalled a change in the government’s tolerant stance with the Red parties. Benn, however, remains clear about one thing: “The violence was not directed against foreigners. It was clearly a case of Thai against Thai.
“All in all, we’ve been very happy in Thailand. From a family standpoint, it is perfect for those with children – it has great schools, healthcare and tonnes of activities; the beach one weekend and the mountains the next. Everything is here.”
Political blips aside, the country’s economy doesn’t seem to have missed a beat despite the nine-week standoff. In August, the second-quarter GDP figure was a reassuring 9.1 percent growth powered by exports, while consumer confidence hit a four-year high of 81.5 points in the same month.
The Thai baht has been scaling to heights not seen in recent memory. When Business Traveller visited Bangkok in October to attend a THAI Airways-sponsored aviation outlook conference, the local newspapers were reporting on October 15 that it had appreciated to THB29.82 per dollar. Just the day before, the currency touched THB29.76, the highest level since July 1997, and now may even strengthen toward THB29 by year-end, analysts predicted.
While a strong baht may not bode well for exports, which make up 65 percent of the GDP, burgeoning domestic consumption is expected to boost Thailand’s goal to attain a 7 to 7.5 percent growth projected by the finance ministry for this year.
On the whole, Benn of AmCham says many of the organisation’s 650 members “are doing really well and reinvesting”. However, there were still areas that still needed improvement, she said, citing transparency, corruption and the high cost of telecommunications and logistics.
“So far, through all the political instability, none of the big companies have left, and new ones are always coming in. But sometimes, complications in current political structures affect policies that could put Thailand ahead in the game.”
Investment guru Mark Mobius, whose Templeton Emerging Markets Fund has invested 10 percent of its holdings in Thai equities, keeps a bullish approach toward the Kingdom. “Thailand’s overall politics remain peaceful,” the former Bangkok resident said in a seminar earlier this year, adding that chaos could happen anywhere.
Paul Gambles, financial expert and managing partner at MBMG International, is convinced that Thailand is a unique place where fractious politics, robust economic activities and Buddhist beliefs co-exist harmoniously and without question. “Politics is politics; business is business; and Buddhism is important as well. They are all equally important,” he said.“Thailand differs from the West where a change in government is an important event. Here, that doesn’t impact as much on the economic and daily life. Life and business go on.”
While it looked at first like the Red Shirt riots would drastically dampen projections of the Tourism Authority of Thailand (TAT), that may not seem to be entirely the case. The tourist sector, which accounts for 6.5 percent of the GDP, is likely to do well this year despite the Bangkok debacle, said Juthaporn Rerngronasa, deputy TAT governor for international marketing. Visitor arrivals in 2010 should tally over 15 million, bringing in a revenue of THB550 billion (US$18.3 billion), up from THB530 billion (US$17.6 billion) last year.
And just when you thought another hotel could hardly be squeezed into Bangkok’s congested neighbourhoods, a Colliers International second quarter report predicted that 2010 would record “the greatest addition of new (room) supply ever in Bangkok”. In the second quarter of this year, Collier revealed the city’s room supply was approximately 14,400 rooms, with around 700 rooms added in the first six months, and more than 1,300 rooms to come on line by year-end.
The northern CBD of Bangkok, which includes the Ratchaprasong district, has attracted the most hotel openings in the past 15 years. These, along with a clutch of upscale malls, proved easy magnets for business travellers and leisure visitors alike. No surprises then that the Red Shirts caught on and gravitated towards this prime spot to make their statement and ultimately,
their last stand.
Most affected by the Red Shirt encampment was Siam Kempinski, which moved its June launch to July. Not all its 303 rooms are open with the sluggish travel traffic, although it promises full inventory by middle of this month. More openings are expected in 2011 such as St Regis, Le Meridien Suvarnabhumi, Sofitel Sukhumvit and W Sathorn.
As one hotelier remarked to Business Traveller: “Sixty percent (occupancy) is the new 100 percent. ” How times and mindsets change.
But it is around the Sukhumvit area where future hotel expansion on a big scale will next occur, according to Colliers. More than 1,500 guestrooms, mostly in the luxury tier, will come online. Sukhumvit’s accessibility to the skytrain and plethora of dining options has already attracted a significant number of boutique-style properties with innovative service propositions. These include Sacha’s Hotel Uno, Dream, SilQ and S15, among others.
Bangkok, and in the bigger picture, Thailand, has gone through several rough patches. Who knows if we are seeing a lasting period of peace or just the lull before another storm.
For now, the Thais would rather live in the day, saying “ Mai pen rai”.
After 22 years in Asia, 11 years spent residing in Thailand, Judy Benn regards the downtown takeover earlier this year with pragmatism borne out of living in the eye of the typhoon and yet managing to strike a happy and productive life-work balance. This mother of a 10-year-old daughter and executive director of the American Chamber of Commerce of Thailand said: “Of course, our families and friends had a right to be concerned, watching what was on TV. But I never felt threatened. The reality was, life went on as usual.”
Living in the region, Benn, like most expatriates, had to adjust her benchmark of what she was accustomed to. “The Ratchaprasong occupation would never have happened in New York. The police would have been sent in immediately to clear out the place,” she admitted.
“Here, Ratchaprasong was closed off for months, but unless you were right in the area it was not an inconvenient situation. In fact, it was like a street fair – lots of women and children and lots of people selling food and giving massages.”
Benn’s years of experience dealing with different cultures, especially in Thailand where “giving face” and protracted negotiations are the norm, put her in the best position to calm jittery AmCham members during volatile periods. “Some of them had just moved here and weren’t used to what was happening – even my younger brother told me to consider going back to the US,” she recalled.
Her advice to those who were rattled by the mass protests was “to move” and “not to pay unnecessary visits to rally sites“.
“This was no spectator sport,” she said, “and you might have been putting your life into your own hands by going [to Ratchaprasong] because anything could have happened.”
Benn had to vacate her home near the Dusit Thani Hotel and stay with friends when the military build-up in the area signalled a change in the government’s tolerant stance with the Red parties. Benn, however, remains clear about one thing: “The violence was not directed against foreigners. It was clearly a case of Thai against Thai.
“All in all, we’ve been very happy in Thailand. From a family standpoint, it is perfect for those with children – it has great schools, healthcare and tonnes of activities; the beach one weekend and the mountains the next. Everything is here.”
Political blips aside, the country’s economy doesn’t seem to have missed a beat despite the nine-week standoff. In August, the second-quarter GDP figure was a reassuring 9.1 percent growth powered by exports, while consumer confidence hit a four-year high of 81.5 points in the same month.
The Thai baht has been scaling to heights not seen in recent memory. When Business Traveller visited Bangkok in October to attend a THAI Airways-sponsored aviation outlook conference, the local newspapers were reporting on October 15 that it had appreciated to THB29.82 per dollar. Just the day before, the currency touched THB29.76, the highest level since July 1997, and now may even strengthen toward THB29 by year-end, analysts predicted.
While a strong baht may not bode well for exports, which make up 65 percent of the GDP, burgeoning domestic consumption is expected to boost Thailand’s goal to attain a 7 to 7.5 percent growth projected by the finance ministry for this year.
On the whole, Benn of AmCham says many of the organisation’s 650 members “are doing really well and reinvesting”. However, there were still areas that still needed improvement, she said, citing transparency, corruption and the high cost of telecommunications and logistics.
“So far, through all the political instability, none of the big companies have left, and new ones are always coming in. But sometimes, complications in current political structures affect policies that could put Thailand ahead in the game.”
Investment guru Mark Mobius, whose Templeton Emerging Markets Fund has invested 10 percent of its holdings in Thai equities, keeps a bullish approach toward the Kingdom. “Thailand’s overall politics remain peaceful,” the former Bangkok resident said in a seminar earlier this year, adding that chaos could happen anywhere.
Paul Gambles, financial expert and managing partner at MBMG International, is convinced that Thailand is a unique place where fractious politics, robust economic activities and Buddhist beliefs co-exist harmoniously and without question. “Politics is politics; business is business; and Buddhism is important as well. They are all equally important,” he said.“Thailand differs from the West where a change in government is an important event. Here, that doesn’t impact as much on the economic and daily life. Life and business go on.”
While it looked at first like the Red Shirt riots would drastically dampen projections of the Tourism Authority of Thailand (TAT), that may not seem to be entirely the case. The tourist sector, which accounts for 6.5 percent of the GDP, is likely to do well this year despite the Bangkok debacle, said Juthaporn Rerngronasa, deputy TAT governor for international marketing. Visitor arrivals in 2010 should tally over 15 million, bringing in a revenue of THB550 billion (US$18.3 billion), up from THB530 billion (US$17.6 billion) last year.
And just when you thought another hotel could hardly be squeezed into Bangkok’s congested neighbourhoods, a Colliers International second quarter report predicted that 2010 would record “the greatest addition of new (room) supply ever in Bangkok”. In the second quarter of this year, Collier revealed the city’s room supply was approximately 14,400 rooms, with around 700 rooms added in the first six months, and more than 1,300 rooms to come on line by year-end.
The northern CBD of Bangkok, which includes the Ratchaprasong district, has attracted the most hotel openings in the past 15 years. These, along with a clutch of upscale malls, proved easy magnets for business travellers and leisure visitors alike. No surprises then that the Red Shirts caught on and gravitated towards this prime spot to make their statement and ultimately,
their last stand.
Most affected by the Red Shirt encampment was Siam Kempinski, which moved its June launch to July. Not all its 303 rooms are open with the sluggish travel traffic, although it promises full inventory by middle of this month. More openings are expected in 2011 such as St Regis, Le Meridien Suvarnabhumi, Sofitel Sukhumvit and W Sathorn.
As one hotelier remarked to Business Traveller: “Sixty percent (occupancy) is the new 100 percent. ” How times and mindsets change.
But it is around the Sukhumvit area where future hotel expansion on a big scale will next occur, according to Colliers. More than 1,500 guestrooms, mostly in the luxury tier, will come online. Sukhumvit’s accessibility to the skytrain and plethora of dining options has already attracted a significant number of boutique-style properties with innovative service propositions. These include Sacha’s Hotel Uno, Dream, SilQ and S15, among others.
Bangkok, and in the bigger picture, Thailand, has gone through several rough patches. Who knows if we are seeing a lasting period of peace or just the lull before another storm.
For now, the Thais would rather live in the day, saying “ Mai pen rai”.
New ways to stay in Bangkok
Despite the seeming congestion, the City of Angels is still attracting a slew of new hotel and serviced apartment products. Here is a list of what popped up this year and coming online in the next.
Ibis The first branded property to open along the Chaophraya River in some time has 266 guestrooms, which feature satellite TV, wifi internet access, mini fridge and a personal safebox. The specific-to-Ibis service “4am to noon breakfast”, ideal for early birds as well as late risers, is available as are other facilities such as the lobby bar, 24-hour reception where snacks and drinks can be picked up at any time, swimming pool, day-lit meeting rooms and an internet corner. Promo rate Until December 20, rates from THB1,100 (US$36.49) can be booked online, but no cancellation or refund is allowed. Contact +66 2 659 2888, www.ibishotel.com MID-RANGE Four Points by Sheraton (opening December 1) Bold clean lines will mark this first Four Points property in Thailand, near the Asok sky train station. Of the 249 guestrooms, eight are junior suites and 11 are executive suites, ranging from 32sqm to 74sqm. The chain’s trademark services can be expected: free high-speed internet access, free bottled water and beer from its signature Best Brew programme. A 400sqm space can be rented for a variety of events, while a rooftop bar lends itself to just plain chilling out. Promo rate Stays between December 1 and March 31, 2011 are being offered at THB2,500 (US$83) and come wth daily breakfast for two, four Best Brews (coffee or beer), 4pm check-out and double Starwood Preferred Guest frequent stay points. Contact + 66 2 309 3000, www.fourpoints.com/bangkoksukhumvit15 Novotel Bangkok Fenix Silom This September arrival, featuring 216 rooms, is smack in one of Bangkok’s most commercially vibrant areas. Premier executive guests enjoy free internet access, 4pm check-out and express check-in and check-out, wifi internet access and free two hours’ use of the boardroom. PrOMO RATE For a limited time, a nightly room rate of THB1,999 (US$66) is offered. Contact +66 206 9200, www.novotelbangkoksilom.com UPSCALE Radisson Suites Bangkok Sukhumvit Housed in twin towers, located on centrally located Sukhumvit Soi 13, are 150 guestrooms exuding a contemporary Thai sentiment and equipped with the latest wireless multimedia system. Free internet access is available in public as well as private areas Other facilities include an outdoor swimming pool, Jacuzzi, gym and space for small to medium-size events and outlets, Mauve, asqu Lounge, bar and a delicatessen. Promo rate Until January 31, 2011, a THB2,900 (US$96) rate includes free breakfast for two at Mauve, 3pm check-out, and for a supplement of THB400 (US$13), one can stay in a studio deluxe room or for THB800 (US$26.57) in a one-bedroom suite. Contact +66 2 645 4999, www.radisson.com/bangkokth_sukhumvit LUXURY Siam Kempinski Hotel Bangkok Tucked between the bustling Siam Paragon mall and Sra Pathum Palace, Kempinski’s first property in Thailand stands on unique ground. Formerly part of the Lotus Pond Palace, commissioned by Rama IV as his retreat, it became famous for its lush gardens. The 303-room hotel, which opened on September 27, has been designed to follow that same ethic with its tropical landscaping and three salt-water pools recreating the historic sanctuary. Modern amenities include the latest in-room entertainment systems and high-speed internet connections throughout the hotel. A 900sqm pillarless grand ballroom and the Sra Bua by Kiin Kiin restaurant, specialising in contemporary Thai creations, are two other customer draws. Promo rate THB7,900 (US$262) nightly for a deluxe room with daily THB2,200 (US$73) F&B credit (non-cumulative) until March 31, 2011 and 4pm check-out subject to availability Contact tel +66 2 162 9000, www.kempinski.com SERVICED RESIDENCES Pan Pacific Serviced Suites Like its Singapore counterpart, this 148-suite property, which opened in March in the trendy Thonglor district, offers the services of personal assistants (PAs), who help residents connect instantly to their new city. Leisure facilities include the swimming pool and Pacific Lounge. Contact +66 2 763 9000, www.panpacific.com Somerset Sukhumvit Thonglor Ascott’s eighth property in Thailand is near a variety of dining, retail and nightlife options. Available are studios and one and two-bedroom types fitted with a fully equipped kitchen, home entertainment system and wifi internet access. A pool for both adults and youngsters, Jacuzzi, an indoor kids’ playroom, gym and specially designed residents’ programmes make up the leisure facilities. Contact +66 2 365 7999, www.somerset.com
