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.
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].
NRI investors fuel India’s property boom amid favourable market and regulatory landscape
With market conditions and regulatory changes working in their favour, NRI investors are supercharging India’s real estate scene
Archetype Group’s Jean-Francois Chevance spearheads urban innovation in Southeast Asia
Archetype Group has overseen numerous transformative projects in Southeast Asia
Reimagining the future: Asia’s architects turn to heritage for sustainable solutions
Planners, designers, and developers around Asia are looking to the region’s past for inspiration as they attempt to reduce harmful carbon emissions
Government rolls the dice: Indonesia’s bid to revitalise real estate ahead of elections
The outgoing government is banking on tax breaks and other incentives to revive the country’s residential sector