Thai hotel sector starts to rebound
January 29, 2015
Published on Jan 29, 2015
STR Global's full-year data provides grounds for optimism
Hotels in Thailand are starting to see the green shoots of recovery, following a dismal first half of 2014.
According to the full-year data from STR Global, the recovery began late in the third quarter of last year and "blossomed" in Q4, as guests started to return to the country following months of political strife.
Revenue per available room (revPAR) increased 2.5% year-on-year in the final quarter of 2014, and Bangkok's Q4 occupancy was the highest recorded by STR Global since 2006.
But this late surge couldn't help Thailand's hotel industry overcome such a poor first half, and the country ended the year with an overall occupancy decline of 11.3% compared to 2013.
This slide was largely driven by Bangkok, which bore the brunt of the year's unrest. The Thai capital registered a 16.2% decline in occupancy last year, and for more than six months of the year it was down 20%.
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