Phuket Hotel Market Update January 2018

Overview

In 2017, Phuket posted 11.3% y-o-y growth in airport arrivals surpassing an estimated 8.4 million incoming passengers. This was mainly driven by a 20% surge in Mainland Chinese travelers to the island and a rising number of passenger arrivals during low season of 11.2% compared to the same period in 2016. Airlift was the key catalyst as market-wide hotel performance continued to see an uptick in occupancy at 77%.

PHUKET’S AIRPORT PASSENGER AND FLIGHT ARRIVALS

With its successful water park in Hua Hin, Proud Real Estate plans to start the development of Vana Nava Phuket by Q4 2018. Coupled with a 255-room Holiday Inn, the project is valued at nearly THB3 billion. Kata Water Park is another notable tourism attraction that will begin construction in 2018. Developed by Kata Group on a 13-rai plot, replacing Kata Plaza, the plan includes a 300-room hotel and multiple dining outlets.

Apart from many undergoing projects by the Government to improve public infrastructure, the private sector has initially invested THB40 million to fund ‘Phuket Smart Bus’ project. Launching with 10 buses in 2018, they will carry passengers from the airport directly to Phuket town with estimated fares ranging between THB50-150. Upcoming routes are Cherngtalay, Kamala, Patong, Karon and Kata.”

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