Thailand’s Hotel Sector Is Confident With Tourism Growth

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The tourism industry of Thailand is on the right track with more than 35 million arrivals last year and the predicted 37 million visitors for 2018. The hospitality industry has to think of different strategies to take advantage of the growing number of tourists. However, the Thai Hotels Association (THA) has warned the hotel sector that major tourist destinations like Bangkok, Phuket, Pattaya and Chiang Mai are already oversupplied so that some players may not profit from the tourism boom.

According to US-based STR Global and Thai consultancy 69 Hotelworks, the high demand from tourists is boosting the confidence of Thailand’s hospitality industry. In Bangkok 100 new hotels and 21,600 rooms are in the process of development. However, Bangkok faces several challenges because the transport infrastructure must be able to cope up with the influx of tourists.

Bill Barnett, managing director of C9 Hotelworks said that Bangkok is closely becoming a megacity with the record-breaking number of tourists who want to experience the many attractions of the city. On the other hand, opportunities and threats are being created by the multi-billion baht developments on transport links, megamalls and hotel and residential projects.

THA predicts growth to be between 5 % and 7% for 2018 because of more arrivals and the strengthening economy. THA also expects a strong rebound from hotels in Phuket, Krabi and KohSamui because of Chinese developments and the return of tourists from Russia and Europe. Based on the rates on occupancy, many regions have showed a slight increase with the exception of Phuket that experienced a sharp surge.

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