Samui Hotel Market Update April 2023

Overview

In 2022, Samui tourism sector recorded a total of 1.3 million passengers passing through Samui International Airport. The increase in international passengers posted double-digit growth after lifting of Thailand Pass registration scheme in July 2022. C9 forecasts pent-up demand to Samui will surpass 2 million passengers this year, compared to 2.4 million in 2019.

SAMUI TOURISM MARKET PERFORMANCE

The island’s hotel market for FY2022 kicked-off its recovery with market-wide hotel performance, RevPAR uplift. This was mainly triggered by an increase in room night demand. The most popular hotels are broadly concentrated in Bo Phut, Choeng Mon, and Chaweng.

Samui has seen a diversification in key source markets over the last five years. In 2022, key sources of business for Samui were Europe, U.S., and Australia. Asian markets have been slower to recover due to the limited number of international direct flights.

Samui’s visitor trajectory is leveraged on the leisure segment. Hence, its recovery has been slower than other key Thai destinations like Phuket or Pattaya which have a higher volume of business and MICE segments

Our forecast for 2023 is international leisure travel from Europe and Mainland China will be a key factor contributing to a moderate return to stabilized trading. For the foreseeable future, the destination remains highly reliant on Bangkok Airways and its ability to grow international airlift.

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