TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

HOTEL ALERT Discounting and Supply Hit Phuket's Q3 Hotel Perform

Category: Hotels, Posted:09 Nov 2009 | 09:41 am

Wide scale discounting starting at the upscale and midscale hotels has created a domino effect downward with a continued slide in 3rd quarter Phuket hotel performance. Speaking to Jonas Ogren at STR Global the for the period of January through September (nine months) of 2009 versus the same period in 2008 the islands average occupancy is down 18.9%, average rate declined 14.3% and most important RevPAR rattled lower to 30.5%.
Poor market sentiment has led many properties into deeply discounting room rates along with the effects of substantial new hotel supply entering into a market which is vastly seeing a saturation point in the mid and upper tier levels. Back of the already open Radisson Plaza, new hotels coming online include Westin in Koh Siray, Renaissance Mai Khao and Centara Grand Karon.
Based on actual trading terms for international standard properties island wide occupancy year to date registered 52.9%, an average rate of THB 3,786 and RevPAR standing THB 2,002. While there are positive gains in airlift and tourism numbers these are being counteracted with increased hotel rooms and a shifting geographic mix with greater numbers of regional and lower yielding markets.
Though 4th quarter occupancies and rates will be lift as high season comes into play, there remains considerable concern for long term rate recovery with 45 new properties now in the development pipeline.

Other News

Read more

Thai Domestic Tourism Subsidy Returns

Category: Hotels|Tourism, Posted:29 Jan 2023 | 15:24 pm Thailand’s “We Travel Together” domestic tourism economic stimulus subsidy will return for a 5th time from February to August 2023. The government has agreed to a THB3.95 billion budget and will cover 40% of hotel room rates but not exceed THB3,000. Only Thais are eligible, with a maximum of 5 nights. They will also receive […]
Read more

Thaiger Cage Hospitality Digital Pitch Event To Debut at Thailand Tourism Forum 2023

Category: Hotels|Tourism, Posted:26 Dec 2022 | 13:48 pm Leading Thai digital media outlet The Thaiger is launching a new start-up technology pitch event ‘The Thaiger Cage’ on 16th January 2023 at the Conrad Bangkok. It is a special prequel to the Thailand Tourism Forum (TTF) 2023, now in its twelfth year and widely considered to be the country’s leading annual hospitality event The […]
Read more

Could Thailand’s Southeast Coastal Gem Khanom Be The Next Koh Samui?

Category: Real estate|Tourism, Posted:23 Dec 2022 | 12:26 pm The search for the next big resort destination in Thailand is an absolutely big ask. An expansive country with 77 provinces and an amazing array of diverse geographical locations, Instagram-worthy aspects, and distinctly different nuances. Out of this brazen travel chaos, the endearing term ‘same same, but different’ was born and remains highly relevant. Yet, […]
SiaJai logo

Thailand's Leading Homecare Marketplace