Thailand sees highest hotel booking volumes since 2020
Koh Samui leads with more than 125 percent of 2019 volumes
In a report by the Bangkok Post, Singha Estate Plc predicts hotel growth income in Thailand to grow twice as much as the country reopens its borders to domestic and international visitors.
According to Chairath Sivapornpan, the firm’s chief financial officer, revenue from the hotel industry will increase from THB4.5 billion (USD128.4 million) in 2021 to THB9 billion (USD257 million) in 2022 as all of its hotels fully recover.
In Q1 2022, hotels in Koh Phi Phi and Phuket had occupancy rates going up between 70 and 80 percent in April from the previous quarter’s 60 percent. The growth was mostly driven by domestic demand.
SiteMinder recently revealed that hotels in Thailand are seeing the highest volume of bookings since February 2020. Koh Samui leads with more than 125 percent of 2019 volumes, which is more than double the bookings seen in early March 2022.
Next is Phuket with 90 percent of 2019 booking volumes, and Hua Hin with 86 percent.
More: Thailand’s Chiang Mai expects recovery in the hotel investment sector
Hotels in Thailand have now received 85 percent of the bookings recorded in June 2019. These confirm the steady recovery of the domestic market as well as the growing arrivals of foreign tourists.
“According to our data, Thailand is slowly returning to becoming a top destination for international travellers. We are also witnessing more local hoteliers turning to technology ensuring they are marketing and selling their properties in a holistic fashion,” said Bradley Haines, SiteMinder’s market vice president, Asia-Pacific.
Moreover, as Thailand continues to ease its entry requirements, it is high time for tourists, domestic and foreign, to check out the new luxury hotels that have emerged during the pandemic, as reported by The National. These include the 260-room Melia Chiang Mai, the five-star Melia Phuket Mai Khao, the four-star, low-rise Centara Ao Nang Beach Resort & Spa Krabi, the five-star Saii Laguna Phuket, and the 235-room Novotel Marina Sriracha.
The Property Report editors wrote this article. For more information, email: [email protected].
Recommended
Rental markets surge in Asia as digital nomads find new opportunities with visa reforms
As countries in Asia roll out customised visa programmes, rental markets are thriving with the influx of remote workers
China’s hospitality market thrives as developers sell off assets to spark recovery
China’s indebted developers are divesting hospitality assets to generate growth and enhance the outlook of the country’s real estate market
Meet the Bitkub CEO turning real estate on its head with cryptocurrency and tokenised ownership
Jirayut “Topp” Srupsrisopa, CEO of Thai crypto exchange Bitkub, is a true believer in the potential of digitised finance
6 sights to spot in Jardine’s Lookout, Hong Kong
With its sumptuous harbour vistas, this low-density area is one of the most sought-after in Hong Kong