Crises have frozen rates but now they’re due to rise
Multiple crises in Thailand including the 2008 financial crisis, political clashes and, most recently, the major flooding have frozen hotel rates in Bangkok in recent years. So now they’re long overdue a rise, experts say. Hotels in the Thai capital may push up rates next year by up to 20% on prevailing prices.
However, this may be the case only in the upscale segment. Many other hoteliers in the city appear to be planning rate rises in the new year of 5-10%. Currently, rates in Hong Kong and Singapore are 25% higher than in Bangkok.
[pictured: InterContinental Bangkok; courtesy IHG]