Bangkok to add over 3,000 new keys to its hotel supply by year-end | Real Estate Asia
, Thailand

Bangkok to add over 3,000 new keys to its hotel supply by year-end

Four additional hotels were opened in Q2 alone. 

According to a JLL report, Bangkok saw the opening of four new properties in 2Q23: the 179-key Dusit D2 Samyan, the 106-key ASAI Bangkok Sathorn, the 494-key Eastin Grand Hotel Phayathai, and the 91-key Ramada by Wyndham Bangkok Ten Ekkamai Residences.

As a large number of projects were postponed due to COVID-19, JLL said 3,273 keys are expected to be added to Bangkok’s hotel supply by the end of 2023, representing the largest annual increase in the past decade. Between July 2023 and December 2025, 13,827 keys are expected to open.

Here’s more from JLL:

Luxury hotels in Bangkok registered a y-o-y improvement in performance, with revenue per available room (RevPAR) increasing by 167.4% to THB 5,797 as of YTD June 2023. This was attributable to growth in both occupancy and average daily rate (ADR), which rose by 27 percentage points (ppts) and 56.3% respectively during the same period.

Similarly, midscale and upscale hotels in Bangkok experienced a y-o-y increase in RevPAR of 150.3% to THB 1,441, and 182.6% to THB 2,776 respectively as of YTD June 2023. Like the luxury segment, the improvement in both segments is attributed to growth in both occupancy and ADR.

Outlook: Occupancy gradually closing gap with pre-pandemic levels

Pre-pandemic, visitors from Mainland China formed the top source market for Bangkok, making up roughly 30% of total international visitors, followed by Japan, India, and South Korea. After the lifting of all entry restrictions in January 2023, China has returned as the top source market for Bangkok as of YTD June 2023, however arrival numbers are still less than one third of 2019 numbers.

The recovery outlook for Bangkok hotels is bullish, and it is anticipated that the gap with pre-COVID-19 occupancy levels will gradually close over the year. We expect 4Q23 to be the first real high season in Bangkok after three years of the pandemic.


Note: Bangkok Hotels refers to Bangkok's luxury hotel market.


Join Real Estate Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


How Metland Indonesia deals with weaker residential purchasing power
The real estate firm continues to expand with residences that are attractive to consumers because of pricing, the ‘growing house’ concept, and sustainable features.