Real estate

Legendary Korat hotel being sold after coronavirus severely hit business


JOINING the ranks of  hotels put up for sale in Nakhon Ratchasima province (Korat) after the coronavirus pandemic caused business to plunge sharply is one that had been operating for 30 years and had a massage parlour on its top-most 12th floor, Amarin TV said today (Feb. 5).

Pegasus Korat Hotel, located on Mitraphab road in Mueang district, was today enclosed by a metal fence and a for sale sign prominently placed.

This followed a huge drop in business after the pandemic started with tourists and guests staying away. Finally Bangkok Commercial Asset Management Plc’s branch in Nakhon Ratchasima seized the property and today announced an over 183 million baht sale price, property code DA-NSM-HB-0100.

Many other hotels in the province had already been shut down and put up for sale.

The Pegasus Hotel is considered an old establishment in this northeastern province. The 12-storey, three-star hotel has 70 rooms and operated a massage service on the 12th floor. 

However the severe drop in revenue after Covid-19 swept the world in 2019 leading to the number of tourists and guests continuing to decline forced the owners to shut down the service that very year. However in the end the business was closed permanently after the finance firm seized it and put it up for sale.


The entrance to Pegasus Korat Hotel. Photo: Amarin TV


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