Thailand’s Slow Hotel Rebound

The Nation reported hotels in Thailand expect occupancy rates to start picking up in the second half of this year. China lifting restrictions is playing a big part in that projection. The Hotel Business Operator Sentiment Study is conducted by the Thai Hotels Association and Bank of Thailand. Last month’s study showed operators expect their revenue to rise by 10%-30%. The average occupancy rate in December was 63%, up from 59% in November. Hotels in the South expect to do better than the rest of the country due to the arrival of European and American tourists. Hotels still face challenges such as rising costs, global recession and labor shortages. They are holding out hope the government will lend a helping hand, helping to cut costs, provide low-interest loans, extend repayment periods and launch more subsidies. For full year 2022, Thailand welcomed 11.81 million foreign arrivals. Their goal this year is at least 25 million foreigners, generating 2.38 trillion baht in touri