Thai Hotel Rates Plunge
Skift Take
- Thai hotel occupancy rates drop below 50% as government campaign termination impacts domestic and international markets.
- IHG Hotels & Resorts opens voco Ma Belle Danang in Vietnam.
- OYO plans to add 300 hill station hotels to its portfolio by August 2023 and aims for 1,800 new hotels overall.
The Thai Hotels Association said hotel occupancy rates in Thailand plunged to below 50% during May to June, an immediate fallout of the termination of the government’s “Let Us Travel Together” phase 5 campaign in April. The THA predicts less than 50% occupancy rates for June after experiencing a full-scale slowdown in both domestic and international markets. This is the low season for Thailand and international tourists so the timing to terminate the campaign is a bit strange. The North saw the biggest decline to 29.9% occupancy from 42.7% in April. The Central and East regions had the highest occupancy at 59% but that was down from 65.5% and 67% respectively in April. The Southern region decreased to 52.4% from 61.8%.
IHG Hotels & Resorts announced the opening of voco Ma Belle Danang, the first voco hotel in Vietnam and the 50th opening globally. IHG partnered with Tuyet Lien Son Co Ltd. on the opening in downtown Danang. The hotel is 27 stories, just steps from My Khe Beach. The voco Ma Belle Danang has three restaurants and bars including a rooftop pool and Ciela Skybar and Dining. There also is a luxu
