Bangkok Hotel Sector’s Forecast Remains Strong For 2018

The capital will be hearing of a new business hotel in Sukhumvit opening, among others forecast for Bangkok’s tourism sector is strong, with many experts expecting that the growth momentum that the capital’s tourism will be continuing for 2018.

According to a recent report from the HVS Market Pulse, the overall stability in Bangkok’ tourism sector contributed greatly to the strong performance of hotels during the first half of 2018. For the remaining two quarters of the year, the forecast is optimistic, driven by expected demand levels in international arrivals, alongside a politically stable market thanks to elections being postponed until 2019.

The positive forecast for Bangkok’s hospitality sector is something the Centara Grand and Bangkok Convention Centre at CentralWorld can attest to, with its General Manager, Robert Maurer Loeffler, reporting continued growth in all key metrics for the first half of 2018.

He explains that their properties in the Thai capital are enjoying a good 2018, with a particularly strong first quarter and year-on-year growth in occupancy and rates. He says that transient activity accounted for two-thirds of the growth of the group, while the group segment was driven by double-digit increase from wholesale.

He also expects that the rest of 2018 will be just as good, as the MICE segment, which has driven growth for it and many business hotel in Sukhumvit, is expected to remain constant with 2017.Loeffler is hoping that the Centara brand enters 2019 with performance that improves upon the preceding years.

There is still a considerable number of new brand supplies entering the Bangkok market, with many properties currently in development, from brands like Capella, Edition and Four Seasons set to move into the capital’s luxury segment.

Hilton hotels maintains their bullish outlook on Thailand’s luxury segment, according to Vice President of Operations, Luxury Asia-Pacific; Daniel Welk. The hospitality giant recently launched its newest property in the Thai capital, the Waldorf Astoria Bangkok.

Welk says that, if something good has come out of the extremely competitive field in Thailand which has seen many a business hotel in Sukhumvit pop up, it’s the more defined scope for Hilton and its properties. Welk likening the situation to swim lanes.