Bangkok Hotel Numbers Bottom Out In May
The numbers are in for Bangkok's hotel market for May and clearly the 'red shirt' effect was damaging to the hospitality market as had been anticipated.
According to figures released by STR Global with occupancy falling from 38.4% down to 26.2%. As you may recall 2009 was plagued by a 'yellow shirt' effect which hit properties hard.
On the rate front average daily rates (ADR's) fell to USD76.77 or down 11.9% from the same month in the previous year.
Perhaps the hardest statistic of all was RevPAR hitting only USD20.10 plunging 45.8%.
Based on all key markets in Asia Pacific Bangkok was the only one which experienced declines in occupancy comparing to last year.
According to the AoT visitor arrivals sank 10.8% or 2,501,248 in total at Suvarnabhumi International Airport.