C9 Hotelworks Releases New Phuket Hotel Market Update Report
Category:
Hotels|Tourism, Posted:16 Mar 2023 | 00:29 am
According to C9 Hotelworks new Phuket Hotel Market Update 2023, the resort island’s tourism recovery has accelerated over the past six months. With the removal of Thailand’s pandemic travel restrictions in 2022, airlift quickly ramped up as India and Malaysia were key early source markets.
Over the current winter season aside from the return of the traditional ‘snowbird’ market from Northern Europe and Scandinavia, an influx of Eastern European travelers including those from Russia has spiked demand. Room rates have soared and average stay (ALOS) increased.
Looking ahead at the remainder of 2023, we are looking at a balanced recovery led by the Chinese market. For China, July and August along with National Day holidays in October look to play into a methodical build-up of traffic as airlift returns.
We expect a return to 2019 trading by the year-end of this year and the start of a new tourism cycle in 2024.
To read and download the full report CLICK
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