Local, Foreign Players Boosted Thai Hospitality Segment This Year

This year Thailand's hospitality segment has been witnessing a strong tourist growth that has enabled several local and foreign players of this region's leading hotel chains to leverage the rising number of international travellers.

This has led to a really lucrative hotel investment in the Asia-Pacific area particularly during the initial nine months of the year 2017.

In the period between January to September the figures were up by 5.4% from the same period in 2016. The tourism officials aim to touch 34 million tourists and as much as 1.81 trillion baht in tourist spending this year.

The government of Thailand, therefore has launched a national tourism campaign for the following year known as ‘Amazing Thailand Tourism 2018’ that would highlight some unique regional products.

And this move is aimed to promote the beautiful nation as a much favorable tourist destination in the long term and so hotel chains are all gearing up to meet this ever increasing demand for accommodations.

The founder and chief executive of Singapore-based Miners Hospitality, Mendes Cavin said that it has recently declared a project in Pattaya along with new appointments of two senior executives to deal with the anticipated growth of the company in 2018.

This new development, The Rizin Hotel & Residences would actually be the fifth project for Miners Hospitality in Pattaya alone.

This brand has been capable of developing properties in Sri Lanka, Thailand, Indonesia and Nepal.

The American hotel chain Travelodge used to manage four Travelodge hotels in Thailand in 1989 to 2000 prior to concluding management owing to changes in hotel ownership and management deals. This group has returned to the Thai market with Travelodge Pattaya with as many as 168 rooms that were launched in July this year and it experienced occupancy levels of nearly 80 to 90%.

Another group Erawan Group Plc asserted that this brand seeks to run 52 properties with 7,238 rooms this year up from 41 hotels if 6,385 rooms last year.

The number of hotels is expected to increase to 87 with more than 10,000 rooms.

Of the portfolio, 25 properties would be luxury and midscale hotels and the remaining would all be Hop Inns.