Tuesday, June 13, 2023

Thai Hotel Rates Plunge

  • 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 […]