Phuket Hotel MarketView H1 2018
19 Sep 2018
12-year Occupancy Rate Record Broken as Tourism Grew
Phuket saw a significant increase in international tourist arrivals on direct international flights at 22.6% Y-o-Y in the first six months of 2018. This was in line with the increase in total tourist arrivals to Thailand in H1 2018 which increased by 12.5% Y-o-Y. The number of Chinese tourists increased by 25.9% Y-o-Y in the first half of 2018.
The unfortunate boat accident in early July resulting in the deaths of 40 Chinese tourists may dampen the growth of Chinese tourist arrivals in Q3 2018 but we believe that Phuket will recover from it quickly.
According to STR Global, the occupancy rate in February reached at the highest level in 12 years at 95.4%. The average occupancy rate for the first quarter also broke the 90% level for the first time since 2010 at 91.2%. The overall Phuket Hotel occupancy rate in H1 2018 reached 80% for the first time since 2010, increasing by a percentage point Y-o-Y.
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