Thai Hotel Bookings to Surpass 2019 Levels

STR reported China hotel data for the week ended September 7th. China hotel RevPAR was down -6% year over year. The results were up against a tough +58.1% gain in the year-ago week. Hotel occupancy for the week ended September 7 was down -1.7% while ADR was down -4.4%, year over year.Krungthai Compass, the research unit of Krungthai Bank, said hotel bookings in Thailand are expected to exceed pre-Covid levels this year as domestic tourism surges. Foreign arrivals in the first half of the year were 17.5 million, still down -12% from 2019, but Thai domestic travelers were up 21% from 2019 to 136.2 million. The average daily rate was up 9% compared to 2019 at 1,920 baht per room. ADR in the South of Thailand was 2,486 baht per room. Krungthai expects occupancy rates to remain at 70.5% this year before rising to 71.9% in 2025. Foreign arrivals will still be down from 2019 at 36.5 million, but they expect Thai travelers to be up 19% on the pre-pandemic level to 271 million. Hotel rev