Phnom Penh hotels battle decline in occupancy despite big changes

Article Abstract:

The hotel business in Phnom Penh, Cambodia, is in an unhealthy state as occupancy rates continues to be down. The renovations done by Singapore-based Raffles Holdings Inc. in the Hotel Le Royal in Phnom Penh did not help it to gain better occupancy. Cambodia experienced a drop of 60% in tourist arrivals to 53,000 in the last six months 1997, as compared to 137,000 in the year-ago period. Le Royal General Manager Charles L. Morris said that occupancy hopefully will pick up after the national elections, but observers are doubtful that political unrest will stop whatever the results of the election.

Comment:

Cambodia: Hotel business in Phnom Penh, Cambodia, is in unhealthy state as occupancy rates continues to be down

Hotels & Motels, Hotels (except Casino Hotels) and Motels, Cambodia, Hotels and motels, Article

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Savimex wants to go global

Article Abstract:

Savimex Economic Cooperation & Export-Import Co. is a state-owned company that specializes in the export of office furniture to Japan. With $12 million in sales and audited profits of $600,000 in 1998, Savimex is a rarity in Vietnam since it is both profitable and subsidy-free. Run by Do Huu Trong, a former academic, Savimex hopes to become one of the first state-owned companies to sell stock to foreign investors. If Trong's plans are approved, 40% of the company will be sold to a foreign partner by the end of 1999, with the government being left with just 40% of equity.

United States, Office Furniture, Office Furniture (including Fixtures) Manufacturing, Finance, Vietnam, Furniture industry, Government business enterprises, Public enterprises, Savimex Economic Cooperation and Export-Import Co.

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Counselor is swamped as job stress grows in the region

Article Abstract:

The Asian economic crisis, which has affected the mental health of some executives and middle managers, has been a boon for Human Dynamic Asia Pacific Ltd. The company's business, which is helping companies deal with their executives' emotional problems, has grown to 18 Asian and international clients in 1999 from a mere two in 1994. Its service, called Employee Assistance Program, teaches managers how to psychologically cope with workplace crises.

Asia, Outpatient Mental Health and Substance Abuse Centers, All Other Business Support Services, Business Services NEC, Mental Health Care, Psychological aspects, Management, Services, Psychiatric services, Mental health services, Executives, Job stress, Employee assistance programs, Business services

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