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By:

Sameer Redkar

12 March 2026 at 1:44:20 pm

When Thailand Turned Disruption into Hospitality

Whatever the political situation, tourists would not be allowed to suffer. Having more than 30 years of experience in the travel industry, I have witnessed countless memorable moments. Travelling across the globe has not only allowed me to explore beautiful destinations but also to meet many wonderful people who have enriched my life in meaningful ways. Every journey carries a story, a lesson, and sometimes a moment that stays with you forever. In this first part of my article, I have shared...

When Thailand Turned Disruption into Hospitality

Whatever the political situation, tourists would not be allowed to suffer. Having more than 30 years of experience in the travel industry, I have witnessed countless memorable moments. Travelling across the globe has not only allowed me to explore beautiful destinations but also to meet many wonderful people who have enriched my life in meaningful ways. Every journey carries a story, a lesson, and sometimes a moment that stays with you forever. In this first part of my article, I have shared one such true incident from my travels—an experience that deeply touched my heart and left a lasting impression on my life. Thailand Tours It was meant to be just another Thailand tour. That year, we were conducting nearly two Thailand tours every month. The itinerary was familiar, the arrangements smooth, and the excitement predictable. Nothing about it suggested that it would become one of the most unforgettable chapters of my life. But sometimes, travel teaches you lessons that no guidebook ever can. To understand what unfolded, a little background is necessary. Thailand follows a constitutional monarchy, much like the United Kingdom. However, in Thailand, the king is not merely a constitutional head — he is deeply respected and emotionally revered by the people. His word carries immense moral weight. At that time, Prime Minister Thaksin Shinawatra was seen as dynamic and bold. Yet many believed he did not show the monarchy the reverence it deserved. When he sold his billion-dollar business empire to a Singapore-based company, public resentment intensified. Political unrest had already been brewing for months. The nation was divided into two visible factions — popularly known as the Yellow Shirts and the Pink Shirts. We arrived in Thailand on 20th November. Our tour covered Pattaya and Bangkok, as usual. However, on the very day of our arrival, I heard that King Bhumibol Adulyadej had dismissed Prime Minister Thaksin while he was on an official visit to the United States. The military had taken control. In Thailand, such developments were not entirely unheard of. So initially, there was no panic. We continued with our itinerary calmly. Then came 22nd November. Thousands of Yellow Shirt protesters occupied the international airports of Bangkok, Phuket, and Krabi. Roads leading to the airports were blocked. Government buildings were surrounded. The situation escalated rapidly. And then came the news—both Bangkok airports were shut down. Initially, we believed it would last a day or two. Surely the authorities would restore order. Surely flights would resume soon. But this was not a spontaneous protest. It was organised, determined, and well prepared. The protesters had tents, food supplies, and everything needed for a prolonged stay. It became clear that this situation would not end quickly. Our return was scheduled for 24th November. Suddenly, two heavy questions stood before me — how would I take 26 people back to India? And where would I accommodate them safely if the shutdown continues? I extended our hotel booking for one additional day at our own expense. But as a tour leader, I knew that one day was manageable — uncertainty was not. The financial strain was real, but the emotional responsibility weighed far more heavily. My group members were understanding and cooperative. Yet I could sense the quiet anxiety in their eyes — the same uncertainty I was feeling inside. Finally, our local guide and I went to the Thailand Tourism office. What I witnessed there is something I will never forget. Hundreds of stranded tourists filled the office. Yet amidst the chaos, there was remarkable dignity and calmness. At the entrance, a board read: “We are extremely sorry for what is happening in Thailand currently, and we solicit your cooperation in this matter. As a gesture, we are providing free water and snacks to all at this office, & we will help you arrange your stay in the Kingdom of Thailand. Kindly contact the guest relations officer.” And true to those words, water bottles and snacks were arranged for all. When we approached the Guest Relations desk, they checked our tickets and handed us an official letter. They told us to present it at any 3-star or 4-star hotel in Thailand. The government would bear the entire cost of stay and meals. No hotel could refuse us. I reconfirmed, almost in disbelief. They calmly assured us — whatever the political situation, tourists would not be allowed to suffer. In that moment, I felt something shift inside me—from fear to gratitude. (The writer is a travel enthusiast. Views personal.)

One should ignore volatility and stick to investments

Updated: Nov 18, 2024

Devang Kabra

There are certain questions in the minds of an investor on which could be the best available choice. Devang Kabra, Partner and Co-Fund Manager of Wallfort PMS, tells Mangesh Kulkarni that the investor should stick to the investments despite the fear of volatility. Excerpts…

Q. The Indian stock market has given stellar returns in the last four years. Nifty 50 has risen by 200 per cent, small cap index has risen by almost six times from COVID lows. Should investors book profit, or is there an opportunity for fresh investment?

A. It depends on the time horizon of the investor. On broader index levels, the indices are likely to go into consolidation for 3-6 months. However, we invest with a mid to long term view and not with a short-term view. Hence, one should ideally ignore this volatility and stick to the investments. Probably, the volatility will give a chance to buy more of the chosen stock. We don’t believe this temporary volatility impacts India's structural story.


Q. Private sector banks have underperformed the broader market in the last three years. What is your view on these stocks?

A. Currently, the Private sector banks are facing a double whammy of tight global liquidity and reducing domestic deposits. Their cost of funds is dear compared to pre covid days. Their balance sheet performance and hence stock performance would largely depend on their NIM increase. On the international front, one has to keenly observe the FED interest rates moves and the effect on inflation and global liquidity. On the domestic front, one has to keenly observe what Indian Government and RBI does to motivate investment of households in FD's (which is currently moving out to alternative financial asset classes because of returns and taxation).


Q. On which sectors you are currently over weight?

A. We are overweight on manufacturing and luxury consumption theme.


Q. How much return has your oldest PMS given in the last five and 10 years?

A. Our five years IRR has been 41 per cent.


Q. Which is that one theme in which you are extremely bullish in the current market?

A. We are bullish on manufacturing theme.


Q. Mutual Funds Vs PMS - which option is better?

A. Mutual Funds are best for an investor starting off in life or in the early stages of his financial investment journey. Once a decent corpus is built after consistent 5-10 years of investing in Mutual Funds, the investor can shift to PMS. In terms of absolute returns, PMS will always outperform MF. However, in PMS, there is a barrier of investment size. Hence, the suggestion to build a decent MF portfolio before venturing into PMS investments.

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