Thailand's leading real estate agent

Improved Performance Despite Political Unrest in Bangkok

By on May 08, 2014 in Research

Phuket Hotel MarketView Q4, 2013

The performance of hotels in Phuket improved in terms of both Average Daily Rate and occupancy rate in 2013. The occupancy rate of upscale hotels in 2013 increased by 2.0% Y-o-Y to around 70%.

q4_13_phuket_hotel_mv_294-194Phuket’s hotels also increased their Y-o-Y average occupancy rate in Q4 2013 despite political unrest in Bangkok. There were only a few cancellations in December 2013, but we have seen some slowdown in the advance bookings for April – May 2014, as international guests are still wary of the situation.

The Average Daily Rate (ADR) has risen by 9.8% since 2009. Revenue per Available Room (RevPAR) has increased largely due to the increase in the average ADR.

The supply of hotels in Phuket is expected to increase by another fourteen hotels in 2014. There are 27 mid-range to luxury hotel projects under construction that will be completed by 2016. This will increase the supply by 30%.

This is an extract from Phuket Hotel MarketView Q4 2013, click to download the full report at Phuket Hotel MarketView.

Toby has been living in Bangkok for a number of years and has a strong research background. With his years in Thailand Toby brings a wide range of property knowledge to his research writing

No comment





 

emailSubscribe Via Email

Privacy guaranteed. We will not share your information.

Follow Me on Twitter

Follow Me on Facebook

Subscribe via RSS Feed

Copyright © 2020 CBRE (Thailand) Co., Ltd. All Rights Reserved.