The Thai hotel industry is reeling from the collapse of two major European tour operators, I Travel and FTI Touristik GmbH, which has left 179 hotels out of pocket to the tune of 173 million baht, Thienprasit Chaiyapatranun, president of the Thai Hotels Association (THA) said on Friday, NationThailand.com reported. The association said that the fallout has predominantly impacted establishments in Chiang Mai and Chiang Rai, with losses estimated at 3 million baht for individual hotels.
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