Thread: Hi from Phuket

Bkkmadness - the situation is like this:

When we were married we each owned 50% of this 'sole-trader' business, (as per Thai law re businesses with married couples etc). The divorce came about after she attacked me one night! The only way to get her to agree to a quickie divorce was to offer her 100% of the hotel. Smelling 'money', she agreed to the divorce.

But my move was not so stupid! Although she legally owns the hotel 100%, she is incapable of looking after the business and must rely on me for this, (I own the hotel website where most bookings come from). At her own request, I look after all monies that come into the business, pay all the bills and then split the profit 50/50. she knows that she cannot manage the hotel and nor can her family.

When I go away from the hotel for only a few days, the service falls through the floor and customers start complaining. She is aware of this and that's why she does not want me to leave

So, the ideal solution is for her to leave! She can leave me in control of the business and she gets a steady income each month from her share of the profits.

Complex situation? Yes? But most of the balls are in my court!

Simon

Well not really, if she sells the hotel she gets all of the money. If she, god forbid dies, the hotel goes to the family, and if she finds someone else that can run the business you are out of a job.

if she sells the hotel she gets all of the money. If she, god forbid dies, the hotel goes to the family, and if she finds someone else that can run the business you are out of a job.

She is unlikely to sell a business where she cannot provide accounts..

if she dies then her kids (2 are mine) inherit all the business and her family will ask me to run the business, sharing 50/50 profit. (That's not a pipedream but virtually fact).

Ifr she doesn't pay the landrent and the landlord repossesses the business, then he will rent it to me.. (not pipedream but virtually fact).

No-one will work for her. She is known as the Mad Woman of NaiYang

As I said, very complex, but I hold most of the trump cards.

Simon

PS - She has just had one of her screaming fits and broken her expensive mobile phone and beerglasses.... Touchy woman!!

She is unlikely to sell a business where she cannot provide accounts..

Why can't she provide accounts?

Yep I forgot you had kids with her, the business goes to them. Unless she leaves a will giving it to her other relatives, she may be a bit mad but she doesn't seem that stupid to me.

I wouldn't rely on these other 'virtual facts' either.

It seems what you had was ownership of a successful hotel business, and what you have now is a job managing a hotel. Not what I would call trump cards.

Why the hell did you give away half of a 10 million baht hotel that makes 20 k a night in order to get a quick divorce? That seems crazy to me.

Bkkmadness - you've read this saga already on TV forum It's hugely complicated!

What I had before was shared ownership (via marriage) of a fledgling business.
Now I have no ownership but control all websites, bookings and revenue streams which come into my sole bank account.
My 'ex' is diagnosed as mentally ill, and the online booking agents have details of her condition from her psychiatrist and refuse to act upon any request from her (eg to change bank accounts), because they also know that she is madder than a blue monkey...

Strange scenario... a book is in the making

Simon

Nawty - don't tempt me!!

Simon

Simon, you should cut your losses,

you seem to be a classic case or in the process of "being Thai fucked",

you might have all the cards now, but it's only temporary and "virtual"

Yes, do not sit there thinking you are safe and that you 'the farang' has covered all the bases and out smarted them.....you will get fucked over one way or another I would expect in this scenario.....trust nobody.....except your kids.....although if you have dumped them elsewhere, maybe not.

Yea - I've been advised to 'get out of Dodge' for a couple of years already, before I meet a nasty end when she throws the glass shards at me rather than the floor

Originally Posted by bkkmadness

You better hope someone doesn't start putting ideas in your wives head, you are closer to being out on the street than you think.

sounds that way to me.

Will you stop bloody quoting me before I correct my spelling mistakes.

Originally Posted by bkkmadness

Will you stop bloody quoting me before I correct my spelling mistakes.

*snigger*

i didnt mean it, but now that you've mentioned it, i'm gonna be on the lookout!

What I need to find is a rich Thai-Chinese woman who has a soft spot for old guys in uniform....

Yes, I keep on smiling because if you don't smile then the only path is down

I'm aware of how tenuous my control is over the hotel and I've stated before that I would have no problems walking away from the whole business, so long as I have another employment. Despite searching for about 8 months, I have yet to strike gold (in any location worldwide). I suspect that mad ex has tipped everyone off....

On every day I'm usually awaiting the outcome of a few job applications, either as hotel manager type of jobs or as telecoms/IT type of jobs. The global recession doesn't help.

Maybe I could get a job as a funeral director in Pattaya - I think there is a growing demand..


Simon

Originally Posted by Simon43

So if anyone wants to be 50% partner in a successful hotel, just PM me!

Sounds like a superb investment in the current climate.

Actually EmporerTud, you might want to have a think and then retract your comment

- Our hotel generally caters only for single-night, transit tourists coming from and going to the airport, not longstay holiday makers
- Phuket airport is slated for expansion
- Out of all the thousands of arriving and departing tourists, I only have to fill 10 rooms
- Many transit passengers arrive into Phuket after their next flight has left, (eg Jetstar in from Oz, going to Samui to the next morning)
- Many very late arriving passengers have no hotel to stay at, know of no hotel and rely on the secrutiy/immigration staff to take them to a nearby 24/7 hotel (my hotel...)
- Backpackers and students want to find very cheap accomodation within walking distance of the airport and a beach, with free internet etc. My 'Airport Camping' tents in the hotel garden are dirt cheap, but this money still pays the electricity bill over the month.

95% of all my guests prepay 100% in full prior to their arrival, on T&Cs where no refund is given if they do not stay = very good cashflow.

I could go on and on, but maybe you get the picture

Simon

Sounds like a good little biz......out of curiosity....how much for a discounted mad as a cut snake 50% share.....there is all the stigma attached to that 50% don't forget.

Why would you need a 50% partner ?

if you have no cost (pure profit if you don't pay yourself), no plan for expansion, and fully booked, why would you need more capital ?

Originally Posted by Butterfly

if you have no cost (pure profit if you don't pay yourself), no plan for expansion, and fully booked, why would you need more capital ?

exactly.

sounds dodgy.

Originally Posted by Simon43

The hotel is a very good little business, making about 15-20k profit every night!

Originally Posted by Simon43

the hotel has 10 rooms and a few tents in the garden. It's the only hotel within walking distance of Phuket airport. Last night it was full at 1,900 baht per room

hmmm, 10 rooms., 10*1,900 baht = 19,000

so is it 20,000 baht profit or turnover?

there is a difference

The guy wants the cash to buy out the crazy person......you know, the one you see salivating at the front gate when you drive past.

Originally Posted by kingwilly

so is it 20,000 baht profit or turnover?

there is a difference

many people confuse sales with profit, especially Thais. However in this case, he has no real fixed or variable cost so it could be technically pure profit.

Of course you would have to take into account the property (land+building) depreciation and other implicit costs (owner return on capital) to a true profit estimate.

I think he meant it as a cash profit business, not necessarily as an accounting profit business.

Maybe his restaurant makes a good profit, that covers expences

Originally Posted by Simon43

Butterfly, the hotel has 10 rooms and a few tents in the garden. It's the only hotel within walking distance of Phuket airport. Last night it was full at 1,900 baht per room plus all beer + restaurant + massage + some tents +++ etc. We had to turn away 3 more couples who wanted to stay the night.

So it's a very good (nay!! - extremely good little business) that is disadvantaged purely by the presence and actions of the mad ex

Simon

Cannot you guys read ?