A recovery that began to emerge late in the third quarter of 2014 couldn’t help Thailand’s hotel industry overcome a dismal first half of the year as the industry reported a year-over-year occupancy decline of 11.3 percent.
The country’s occupancy drop was primarily driven by Bangkok’s hotels, which had a year-over-year 16.2-percent decline. During more than six months of the year, occupancy in the city was down more than 20 percent year over year.
Phuket’s occupancy dropped 5.7 percent year over year, which led to levels just slightly above those of 2011—this mainly driven by low-season (May through June) decline beyond normality—and less peak season effects. Koh Samui held up reasonably well, with a slight decrease in occupancy of 1.6 percent over 2013, and the only negative effect year over year was during low season.
One impressive market to mention was Chiang Mai, though occupancy decreased 4.2 percent on a year-over-year basis. The market’s hotels had positive RevPAR growth driven by continued positive ADR movement. This is particularly qualitative when considering that Chiang Mai has grown rate by solid numbers for the past few years, according to Palmqvist.
Hua Hin was also able to hold rates reasonably well, but Pattaya suffered more due to a 10-percent decline in occupancy year over year.
via Thailand’s 2014 Hotel Occupancy Declines to 65 Percent.
A recovery that began to emerge late in the third quarter of 2014 couldn’t help Thailand’s hotel industry overcome a dismal first half of the year as the industry reported a year-over-year occupancy decline of 11.3 percent.The country’s occupancy drop was primarily driven by Bangkok’s hotels, which had a year-over-year 16.2-percent decline. During more than six months of the year, occupancy in the city was down more than 20 percent year over year.Phuket’s occupancy dropped 5.7 percent year over year, which led to levels just slightly above those of 2011—this mainly driven by low-season (May through June) decline beyond normality—and less peak season effects. Koh Samui held up reasonably well, with a slight decrease in occupancy of 1.6 percent over 2013, and the only negative effect year over year was during low season.One impressive market to mention was Chiang Mai, though occupancy decreased 4.2 percent on a year-over-year basis. The market’s hotels had positive RevPAR growth driven by continued positive ADR movement. This is particularly qualitative when considering that Chiang Mai has grown rate by solid numbers for the past few years, according to Palmqvist.Hua Hin was also able to hold rates reasonably well, but Pattaya suffered more due to a 10-percent decline in occupancy year over year.via Thailand’s 2014 Hotel Occupancy Declines to 65 Percent.
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