THA foresees Bangkok occupancy rate rising within 2 weeks

Economy March 06, 2014 00:00

By THE NATION

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The Thai Hotels Association says it believes the occupancy rates of hotels in the protest-hit areas of Bangkok will return to normal within two weeks after demonstrators recently moved out. Online travel agents will be key to the quick recovery, the THA



Prolonged anti-government protests caused hotels in those areas to suffer a drop in their occupancy rates to 20-25 per cent, while those outside the protest zones posted rates of 50 per cent, THA president Surapong Techaruvichit said. 
 
PR AGENCY APPOINTS EXEC
Weber Shandwick, one of the world’s leading public relations agencies, yesterday appointed Stuart Kelly as the new managing director of its Bangkok unit with immediate effect.
As managing director, Kelly reports to Baxter Jolly, Weber Shandwick’s vice chairman for Asia-Pacific, and is responsible for driving business growth and key client relationships for the agency in Thailand. Before this, Kelly held roles both in-house and within agencies, advising a wide range of multinational and Australian companies. 
Previously, he served as a senior financial journalist with Bloomberg News in Asia, and began his career in South Africa, covering the country’s transition from apartheid to full democracy.
 
TUF group appoints new 
chief executive officer 
Thai Union Frozen Products, the world’s leading processor and exporter of canned and frozen seafood products, has appointed Joerg Ayrle to the position of group chief financial officer, effective on March 3. 
His most recent position was as chief financial officer and treasurer at Osram Sylvania, a US subsidiary of Siemens. Before that, he served as the managing director of corporate finance mergers and acquisitions Asia based in Beijing. He has held a number of other senior executive roles within Siemens in China and Germany.
 
Moody’s affirms Cambodia rating
Moody’s Investors Service has affirmed Cambodia’s government issuer rating at “B2” with a “stable” outlook.
Moody’s affirmation of the rating and the outlook is based on the view that Cambodia’s underlying credit strengths are expected to withstand the impact of recent political tensions and labour unrest in the garment industry.
Moody’s has also revised Cambodia’s local-currency country risk ceiling to “B2”, in line with the sovereign rating, from “Ba1” previously, and the long-term foreign-currency (FC) bond ceiling to “B2” from “B1”. The long-term FC bank-deposit ceiling is unchanged at “B3”, and the FC short-term bond and deposit ceilings are also unchanged at “NP”.