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The hotel sector in Bangkok saw increased levels of tourists only a few months
Quick Stats after the political unrest which had resulted in the closure of many hotels in the
central business district. The improvement indicates the strength and the
Change in Change in
Q2 10 Q3 10 resiliency of the Thai tourism market. The number of disembarking
Occupancy (%) international passengers at all Airports of Thailand Public Company Limited
ADR (USD) (“AOT”) managed airports in Bangkok increased by 21.8% Q-o-Q or 9.7%
RevPAR (USD) Y-o-Y. Tourism in Phuket also continued to grow rapidly with the number of
disembarking international passengers increasing by 46.3% Y-o-Y in Q3
2010.
Increase tourist arrivals led to higher occupancy levels for upscale hotels in
Bangkok in Q3 2010, an increase from 45% in Q3 2009 to 52% in the same
Quarterly Highlights
period this year. However, the Average Daily Rate (ADR) decreased by 8%
In Q3 2010 the Average Daily Rate Y-o-Y to THB 4,898 in Q3 2010. Revenue Per Available Room (RevPAR) was
(ADR) of upscale hotels in Bangkok
THB 2,406 in Q3 2010, an increase from THB 2,373 in the same period last
was THB 4,898, a decrease of 8.0%
year. This was a Y-o-Y decrease of 1.4%.
from THB 5,322 in Q3 2009.
There is a growing concern over increasing competition that will come from
the large future supply of hotels in Bangkok. Significant additions to the current
hotel stock of 28,002 keys are expected over the next 3 years. There are
approximately 10,003 new keys scheduled to be added to the hotel stock by
the end of 2013, bringing the total hotel supply to 38,005. This represents a
36% increase on current figures.
Riverside
Ploenchit/ During Q3 2010, the total number of hotel rooms in downtown
Sukhumvit
17.1%
58.5% Bangkok was 28,002, an increase of 4.6% Q-o-Q and 7.0%
Y-o-Y. Supply grew by 519 keys with the completion of two
new hotels this quarter. The 303-key Siam Kempinski is
located on Rama 1 Road, adjacent to Siam Paragon, and
Sliom/ while the 216-key Novotel Bangkok Fenix Silom is located at
Sathon
24.4% the end of Silom Road.
Page 2
Q2 2010
Q3 2010
2003
2004
2005
2006
2007
2008
2009
Page 3
Outlook
The fourth quarter of 2010 will determine the overall performance of the Thai Occupancy Rate (OCC):
tourism industry in 2010 and will indicate the growth prospects for the coming The percentage of room nights occupied to total
year. The upcoming high season will be crucial for the hotel industry which room nights during a given period of time.
has suffered from numerous events in the past year. We expect that the Average Daily Rate (ADR):
continued imposition of the emergency decree in many provinces of Thailand The average daily rate of rooms that are
will have some bearing on tourist arrivals in the next quarter. The hotel sector occupied during a given period of time.
is also faced with the rapid appreciation of the Thai baht which has resulted in Revenue per available room (RevPAR):
increased room rates in terms of USD despite the decline in ADR in terms of A ratio used to measure financial performance
Thai baht.
in the hospitality industry (OCC multiplied by
ADR).
The main challenge facing Bangkok’s hotel industry will continue to be the
new supply of new hotels and serviced apartments that are expected to be
completed by 2013. Increased competition from these developments will put
pressure on occupancy and rates that have already suffered from numerous
For more information regarding the
events. MarketView, please contact:
Kulwadee Sawangsri
Executive Director of CBRE Hotels
CBRE Research Services Subscription Products T. 66.2.654.1111 ext 301 F. 66.2.654.0540
kulwadee.sawangsri@cbre.co.th
The Bangkok Property Report provides in-depth analysis of the Bangkok real
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