Nearly 100 Koh Samui Hotels Up for Sale Due to Lockdown

Nearly 100 hotels on the tourism island of Koh Samui are for sale due to the negative impacts of the Covid-19 coronavirus lockdown. Tourism on Koh Samui died after the government ordered hotels shuttered on April 7th to control the disease.

Although the Thai government set up a U.S. $58 billion (1.8 trillion baht) stimulus package to help aid those affected by the coronavirus, thousands of hoteliers are in threat of losing their investments. Koh Samui’s’  president of the Tourism Association said owners of nearly 100 local hotels announced they will sell their hotels because they have zero cash and financial institutions refuse to give them bank loans. And even if they were able to get loans, the tourism business is not looking too good at the moment.

Source: Nearly 100 Koh Samui Hotels Up for Sale Due to Lockdown

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