Foreign Tourists Buoy Thailand
Skift Take
- A rebound in foreign tourist arrivals into Thailand is pushing up the nation’s hotel occupancy rate from a record low during the pandemic.
- Hotel industry experts are predicting an influx of international tourists in the Philippines in the final quarter of 2022, particularly in Manila, Cebu and Clark.
- ITC Hotels in India could soon be spun out of conglomerate ITC. The chairman of the parent company told reporters they are exploring alternate structures for ITC Hotels, in line with industry recovery dynamics.
A rebound in foreign tourist arrivals into Thailand is pushing up the nation’s hotel occupancy rate from a record low during the pandemic. The Bank of Thailand and the Thai Hotels Association released a joint survey of 106 hotels. The survey found the average room occupancy at Thai hotels was 48% in August, up from 46% a month earlier. The central bank said the hotels are benefiting from a rebound in global travel demand with authorities scrapping all pandemic-era restrictions while a government funded air travel and hotel subsidy program for residents has also helped hotels log higher occupancy. It wasn’t all positive as the survey also found that hotel incomes have improved but overall revenue remains well below pre-Covid levels. The hotels reporting income of more than 50% of pre-pandemic levels are mostly 4-5 star rated properties. September results are expected to show a fall back with the occupancy rate expected to open be around 40%. In the survey, about 60% of the
