TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

C9 Hotelworks Releases New Phuket Hotel Update

Category: Hotels, Posted:14 Feb 2015 | 08:20 am

Hospitality consulting group C9 Hotelworks has released their 2014 Phuket Hotel Market Update.
Looking at the full year 2014, despite a decided impact from the Declaration of Martial Law in May, the brunt of the downturn was compressed into the period of June through September.
By year end airport arrivals were able to pull even compared to year-on-year total passengers in 2013.
That said, a continued increase in new hotel rooms and non-traditional accommodation such as unlicensed hotels, villas and condominium has pushed the market intro stress levels.
Of concern was a sharp drop in Australian visitors to the island and looking forward a more defined impact from the Russian Ruble crisis expected to hit the market harder in the latter high season period of 2015.
Early data from STR Global on January trading is a 7% decline versus the same month on 2014 and market-wide retraction of average room rates from 4-6%, indicating hotels are starting to soften rates to regain demand.
Currency remains a key watchword, as can be seen by the large-scale depreciation of the Ruble and Australian Dollar compared to the US Dollar. Though the exchange rate issue has not fully hit the Phuket market given the propensity of hotels to quote rates in Thai Baht.
It remains deceptive to only take into account Phuket International Airport arrival statistics as a key island health indicator for the tourism sector, as we are continuing to see an increasing number of tourists transit to the growing Khao Lak, Krabi and Phang Nga Bay micro markets.
To view C9's Phuket Hotel Market Update <link>https://c9hotelworks.com/downloads/phuket-hotel-market-update-2015-02.pdf*CLICK</link>

Other News

Read more

The C9 Sessions – The Growth of Branded Residences in the Philippines

Category: Real estate, Posted:23 Jan 2025 | 11:33 am Branded residences and mixed-use projects are becoming a significant player in Philippines’s hospitality space. As property developers, real estate investors and property buyers are learning, this is a complex space that requires well-structured projects. Join us for a unique 90-minute learning session about all the moving parts in this rising marketplace. The session will feature […]
Read more

Video Sessions From Thailand Tourism Forum 2025

Category: Hotels|Real estate|Tourism, Posted:22 Jan 2025 | 08:18 am In case you missed the Thailand Tourism Forum 2025 in Bangkok last week or did attend, and want to rewatch some sessions please find video links to all below. The event drew over 1,000 attendees and was the 14th year for TTF. We look forward to returning in 2026, but for now please enjoy the […]
Read more

Gamechanger: Phuket’s 80-Meter Development Height Restriction Repealed

Category: Hotels|Real estate, Posted:31 Dec 2024 | 11:19 am One of the most significant changes to Phuket’s real estate sector this year is the repeal of the 80-meter development height limit. In a recent Government Gazette, the Thai Cabinet approved a re-zoning proposal by the Minister of Natural Resources and Environment, which now allows development in Zone 6 of Phuket to extend up to […]
SiaJai logo

Thailand's Leading Homecare Marketplace