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Thai Hotels Face 111 Million Baht Loss After FTI Group Insolvency

On June 12th, 2024, Mr. Thienprasit Chaiyapatranun, president of the Thai Hotels Association (THA), addressed the impact of the insolvency of FTI GROUP, a major German tourism operator, on Thailand’s hotel industry.

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FTI Touristik GmbH, the third-largest tour operator in Europe and parent company of FTI GROUP, filed for insolvency with the Munich District Court on June 3rd.

In the wake of this development, the THA conducted a survey to assess the financial impact on hundreds of Thai hotels, which amounted to a cumulative loss of 111 million baht.

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By Kittisak Phalaharn

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