news, analysis, lifestyle & travel from thailand and southeast asia header image 2

Thailand’s hotel development sector – Slow and patchy growth is predicted

January 10th, 2010 · No Comments

The year ahead for Thailand´s hotel and resort development sector will witness a rebound from the impact of the global financial crisis, local recession and domestic political turmoil, according to property experts. But while the outlook is less turbulent, growth will remain anaemic and patchy, and project financing will remain tight.

Occupancy levels in Thailand´s main destinations were hit hard in the first nine months of 2009, according to the latest research by Jones Lang LaSalle (Thailand).

Bangkok´s five-star sector fell by 26.8 per cent year-on-year to 49 per cent, four-star properties dropped by 25.6 per cent to 51.9 per cent, while Phuket City contracted by 12.6 per cent to 58.4 per cent. Revenue available per room (Revpar), the industry benchmark for the financial performance of a property, declined more sharply as operators slashed room rates to boost occupancy. Bangkok´s five-star sector fell by 36.3 per cent to Bt2,394, four-star hotels slid by 35.7 per cent to Bt1,335, and Phuket City dropped by 25.6 per cent to Bt2,296. Read more…

Tags: Asia Property Report · business · news · property · Thailand

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

Leave a Comment