THE International Hotel Association (IHA) has undergone a major restructuring to bring it back to profit. A board was appointed to take control of the association's finances and determine its future priorities and programmes. Elected members also would become more closely involved in the work of the Paris-based secretariat of IHA, the only global hotel organisation. IHA has suffered from financial reverses since 1991 due to heavy investments in projects which did not bear the anticipated cash returns. Industry source said IHA's current financial position would be a disincentive in its new plans to attract Asian membership. They said Asian hotels could even take advantage of IHA's weakness to form their own regional grouping for the first time. It is understood that the Hongkong Hotels Association is studying whether to join the IHA, but a decision will depend on the global organisation's plans for development and marketing strategies.