Samui Hotel Market Update December 2023

Overview

Post-pandemic, Samui tourism sector sees a slow recovery and emphasis on luxury hospitality while infrastructure and airport remain top two market challenges. As of Sep 2023, Samui International Airport experienced a significant increase in traffic, reaching 1.59 million passengers. This represents a 69% rise compared to the same period in 2022, with August 2023 witnessing the highest numbers in the past three years — 16,952 international and 197,594 domestic passengers.

SAMUI TOURISM MARKET UPDATE

Keying into the hotel market in Koh Samui, it presently has a supply of 25,075 keys. There is an expected CAGR of 0.3% in hotel supply from 2023 to 2025. This growth rate marks a slowdown from the pre-COVID era’s CAGR (2015 – 2019) of 1.4%. Notably, 57% of the upcoming properties are classified in the upscale and luxury segment, indicating a trend toward top-tier offerings.

Samui continues to attract tourists primarily from Europe, the U.S., and Australia. Despite visa-free travel for Chinese nationals, the resurgence of this market has been slower than anticipated, possibly affected by a slower expected return of Chinese travelers.

The future growth of tourism in Koh Samui hinges on improved air travel access. The limited expansion capacity of Koh Samui International Airport and the current reliance on Bangkok Airways is expected to challenge the island’s growth.

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