Development
Problem
A group of investors have been severely impacted by the ongoing breaches of contractual obligations by CISSA Group and CNH Hospitality Group - developers of Wyndham Grand Nai Harn Beach Resort in Phuket.
Despite entering into agreements with clear terms for regular rental income payments and a defined timeline for returns, many of them have been left in a difficult financial position due to the following issues:
Persistent Payment Delays: Several scheduled rental payments have been missed or delayed for over a year.
In some cases, the payments have been postponed repeatedly with no clear resolution in sight.
Failure to Honor Contractual Obligations: Although the contracts outline specific deadlines for payments, these have been continuously deferred without any substantial reason provided.
Despite repeated inquiries, named companies have failed to adhere to the agreed terms and show no intention of making the necessary corrections.
Lack of Transparency and Communication: When contacted about overdue payments, the companies either fail to respond or provide vague, non-committal answers.
Important queries regarding the settlement of outstanding debts, payment plans, and the status of rental income remain unanswered.
Inconsistent Payment Practices: While some investors have received small amounts sporadically, others have not received any payments for years.
The amounts transferred are far below what was agreed upon, further eroding trust and transparency.
These ongoing breaches and disregard for contractual obligations not only cause severe financial harm to investors but also undermine trust in international companies like Wyndham Hotels & Resorts Asia Pacific allowing such behavior to tarnish their brand’s reputation.
