Chiang Mai’s small hotels on sale due to falling Chinese tourist arrivals

A fallout from declining tourist arrivals, especially Chinese since the Phoenix tourist boat tragedy in mid-July, has forced more than 10 small hotels and hostels in Chiang Mai to put up their properties for sale.

According to Nikkei Asian Review, the offering selling prices range from a few million baht up to 50 million baht as the hotel or hostel operators have been hard hit by the sharp drop of tourists arrivals from China since July since the boat tragedy in the sea off Phuket in which 47 Chinese tourists drowned.

Full story: thaipbsworld.com

By Thai PBS World