Bangkok: Hotel & Hotel Residences 2018

Overview

Bangkok has made a new record of international arrivals again, so what’s next? Following a robust year in 2016, the growth momentum continued in 2017, and is fully expected to continue on into 2018. The city’s upbeat performance is a fruition of hoteliers’ hard work and a little bit of luck when China shut the door to South Korea and Mount Agung in Bali did Thailand a big favour. The Bangkok hotel market enjoyed booming demand across the board with gravitation toward intraregional travels.

BANGKOK’S HOTEL PERFORMANCE

Leading Thai developer, Sansiri, invested USD58 million in The Standard Hotel to progress its lifestyle brand and hotel management know-how. Furthermore, Nirvana Bali launched their first hospitality branded property, Banyan Tree Residence which has experienced a strong market reception.

Traditionally, leasehold properties in Bangkok were viewed as less desirable by the Thai market, but the success of the St. Regis offering altered legacy demand.

Today, luxury brands like Four Seasons and lower prices per square meter has seen leasehold units transacting at higher pace than freehold. This has also been stimulated by soaring foreign demand and mixed-use projects offering diverse facilities.

With a rise in average built-up sales prices, the hotel residence market has continued to see a sharp y-o-y uptick in transaction volume from 4.09 to 6.07 units per month in 2017. The rising demand has been triggered by wealthy Thai families who seek a convenient location, lifestyle and hotel services.

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