NO BUSINESS SALES HERE PLEASE, WE HAVE A SECTION FOR THAT IN THE CLASSIFIEDS.
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As the construction sector continues seeing a dramatic surge with investment, capping at a record $8.53 billion last year, the boom has caused ripple effects within the hospitality sector, most prominently for boutique hotels across the Kingdom.
Din Somethearith, president of the Cambodia Hotel Association (CHA) told Post Property earlier this week, “Hotel marketing plans are currently competitive, especially boutique hotels that are now facing radical challenges. There are just too many boutique hotels currently, and some of them in Phnom Penh and Siem Reap are gradually closing down.”
Despite claims that small hotels and several boutique hotels are being overshadowed by larger, more renowned hotels, Somethearith could not confirm the exact figure, only saying: “Due to a large number of enormous hotels, small ones cannot compete. It’s like we do handmade crafts while they are like factories, so in economic sector the small ones can’t beat the big guns.”
While at first glance the hotel market is seemingly dandy thanks to the increase in the number of tourists – with 5.7 million entering Cambodia last year compared to 5.4 million in 2015 – and the simultaneous increase of the number of hotels, a deeper look reveals some fractures...
http://www.phnompenhpost.com/post-prope ... e-problems
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No doubt in my mind. Sooner rather than later I believe.
Even if prices fell 50% the contracts offered are so ambiguous as to who, how, when routine common area maintenance is performed I still would not be a player.
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