1H 2020 Phuket Upscale Hotel Market: The Challenges of Hotel Business in Phuket without Tourists

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Overall, the luxury and upscale hotel market in Phuket in 1H 2020 was severely affected by the COVID-19 epidemic. This includes the negative factors from the overall slowdown of the economy. It was found that there was only one new project for the new supply in 1H 2020. Many operators chose to postpone the launch of the new hotel supply during this period and consider launching once again the situation improves. The average occupancy rate, including the average room rate, has dropped to the lowest in recent years. This was considered the toughest condition for the tourism and hotel sector in Phuket for the first half of the year.

However, Colliers International Thailand sees that the Tourism situation in Phuket will improve in 2H 2020 as there was a plan to stimulate tourism by letting foreign tourists to come in the city and to stimulate the government's domestic tourism. And the most important positive factor is controlling the outbreak of the COVID-19 virus that have been recognized by many countries around the world will be a major factor for foreign tourists to be more confident in traveling to Thailand once the situation has been recovered. 
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1H 2020 Phuket Upscale Hotel Market: The Challenges of Hotel Business in Phuket without Tourists

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Phattarachai Taweewong

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Phattarachai is responsible for collect all property sectors in Bangkok and throughout Thailand.

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Waras Dechgitvigrom

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