Hotels in Thailand reach new heights

Thai market always seems to recover strongly from crises
Despite the problems and negative publicity Thailand faced in 2015, stats show that hotels achieved record occupancy rates during the year.
Presenting the figures at the Thailand Tourism Forum 2016, STR Global said there had always been fluctuations in occupancy during times of crisis and political unrest, but “the main strength of the Thai market is how fast it can recover,” said STR’s Asia-Pacific area director, Jesper Palmqvist.
A panel discussion at the event agreed, arguing that no matter how unstable Thai politics becomes, the economy had somehow always survived the setback and rebounded.
However, there are concerns that the market is becoming stale. Tim Hansing, chief executive of Red Planet Hotels, suggested the Thai market had already reached maturity and is becoming less attractive than other emerging markets in the region for hotels to invest in.
“It is bland,” he said. “There are more opportunities elsewhere.”
Emerging beachfront destinations such as Samui, Hua Hin and Krabi remain the only bright spots for growth, he added.
Meanwhile, there is still more unfulfilled demand in the midscale segment, even in Bangkok, said Mike Batchelor, managing director of investment sales Asia at JLL.
TTG Asia


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