UPDATE: Pattaya hotel operator warns public after Chinese tenants allegedly don’t pay rent for 54 rooms hotel

[The Pattaya News]

Pattaya- Chinese nationals who vanished after allegedly not paying rent for seven years on a 54 room hotel contract have to pay 40 million baht compensation following the contract. A luxury hotel operator warned the public last week in Pattaya at a press conference. Read more about our previous story HERE. Yesterday afternoon, Mr. Prem […]

UPDATE: Pattaya hotel operator warns public after Chinese tenants allegedly don’t pay rent for 54 rooms hotel
-=-=-=-=--=-=-=-=-=-=-=-=-==-=-
The Pattaya News - Real. Unbiased. Impactful. In the moment.

Click To View The Pattaya News Website

[SteveB]

Why would you let the Chinese nationals, not pay for seven years and without payments!!!

[OKAY]

Enough money involved one could rent a Luxury Villa on the Darkside and obtain a safe of sorts.

[Roadglide]

1 hour ago, SteveB said:

Why would you let the Chinese nationals, not pay for seven years and without payments!!!

They paid their share of the contract for the past 2 years, however it seems as though they have seen the writing on the wall and decided to cut their losses and walk away from the contract, since it is obvious that now one will be traveling to Thailand this year, and maybe even next year.

[wadman]

2 hours ago, SteveB said:

Why would you let the Chinese nationals, not pay for seven years and without payments!!!

The way I read it, the Chinese group signed a contract for 7 years in 2018.  They paid rent like good boys for the first 2 years.  And then Covid-19 hit, and they figured it's cheaper to cut their losses, and bailed on their contract.  You would think there is a deposit involved too, which they obviously forfeited as well.  Some very misleading titles and text in the OP.

According to this article:

https://thepattayanews.com/2020/09/03/hotel-operator-warns-public-after-chinese-tenants-allegedly-dont-pay-rent-on-a-seven-year-54-room-hotel-contract-in-pattaya/

The group of Chinese businessmen signed a contract for a long term rental for seven years of the three storey hotel with 54 rooms. The contract started in September 2018. The rental fee is 1 million baht per month. In the past two years they have paid for the rental in full, according to Mr. Prem’s statement.

Mr. Prem said he has decreased the rental fees since February due to the COVID-19 situation but the Chinese company has not paid rent at all since then.

 

 

[Roadglide]

1 hour ago, wadman said:

The way I read it, the Chinese group signed a contract for 7 years in 2018.  They paid rent like good boys for the first 2 years.  And then Covid-19 hit, and they figured it's cheaper to cut their losses, and bailed on their contract.  You would think there is a deposit involved too, which they obviously forfeited as well.  Some very misleading titles and text in the OP.

According to this article:

https://thepattayanews.com/2020/09/03/hotel-operator-warns-public-after-chinese-tenants-allegedly-dont-pay-rent-on-a-seven-year-54-room-hotel-contract-in-pattaya/

The group of Chinese businessmen signed a contract for a long term rental for seven years of the three storey hotel with 54 rooms. The contract started in September 2018. The rental fee is 1 million baht per month. In the past two years they have paid for the rental in full, according to Mr. Prem’s statement.

Mr. Prem said he has decreased the rental fees since February due to the COVID-19 situation but the Chinese company has not paid rent at all since then.

 

 

That is the same way I read it...I suspect many others will be doing the same thing, and try to cut their losses, not only for hotel rooms but also for other real estate deals such as bars and clubs.

The financial fallout from the Covid is far from over and may start to effect other individuals, companies and banks that thought they would have only negligible negative effects from the pandemic.

Edited September 12, 2020 by Roadglide