1H 2020 Luxury Hotel Bangkok

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The hotel and hospitality industry is one of the real estate businesses most affected by the COVID-19 outbreak that has spread in many countries including Thailand. From the sluggishness of the tourism sector especially the foreign tourist market which fell from the epidemic crisis has caused the demand for hotel rooms in Thailand to be greatly dropped. Also, the economic has clearly slowed down since the beginning of the year; as a result, people have become more careful with their spending.

Overall, the supply of luxury hotels in Bangkok at the end of 1H 2020 was approximately 12,269 rooms. There was new supply of luxury hotel in 2 new locations in the area of Lumpini and Sukhumvit with 687 rooms. It is currently under construction and is expected to be completed in 2H 2019 with approximately 1,329 rooms. Some hotels have been postponed from in 1H 2020 and the launch plans may be revised in the 2H 2020 if economy has not been improved.

Colliers International Thailand recommends that hoteliers should focus on minimizing cost savings during this period in order to sustain the business to go on. If the income operators are unable to adjust to accept them in a timely manner, it may result in the closure of the businesses. The hotel operators have to carefully pay attention to hygiene, including screening and health care for incoming tourists. This includes preparing personnel and actions after the business is resumed in order to prevent the spread of the COVID-19 to come back. Full Report in Thai >> DOWNLOAD

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1H 2020 Luxury Hotel Bangkok

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Waras Dechgitvigrom

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