TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

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

Phuket Hotels See Rate and Occupancy Drop in February STR Report

Category: Hotels, Posted:28 Mar 2009 | 09:59 am

The recently released STR (Smith Travel Research) Worldwide Performance Report which is considered the definitive bible for hotel benchmarking has released their February results. Phuket registered a year on year (2008 vs. 2009) decline of 30.2% with average occupancies coming in at 61.4% and RevPAR (revenue per available room) also dropped 53.8% to US$73.12.
Interestingly Bali showed an average daily rate (ADR) increase to US$99.31. The report goes on to state that the entire Asia/Pacific area is seeing widespread declines with the region seeing occupancies drop by 12.1% and average daily rates down by 21.0%.
It is important to note that the drop in rates comes during a time when the Thai Baht has continued to devaluate against the US dollar which is the currency most global research reports in; hence the rate decline is even greater when this is factored in. While the post 1997 Asian crises say many hotels convert to US dollar rates for overseas wholesalers and key business segments during the past few years the Thai Baht appreciated which saw most contracting in the Thai currency.
When talking to hotel executives in Phuket, most are pointing to the coming low season from April as a question mark in terms of market dynamics.

Other News

Read more

C9 Hotelworks Releases ‘The Phuket Luxury Report’

Category: Hotels|Real estate|Tourism, Posted:01 Nov 2024 | 08:27 am C9 Hotelworks newly released ‘The Phuket Luxury Report‘ explores the rising prominence of Phuket as the leading luxury destination in Southeast Asia. What is driving demand for Phuket’s luxury real estate? The island’s combination of natural beauty, high-end amenities, and competitive pricing draws affluent investors and tourists worldwide. Compared to destinations like Miami, Dubai, and […]
Read more

C9 Sessions Are Back This Thursday, The Phuket Luxury Report

Category: Hotels|Real estate|Tourism, Posted:27 Oct 2024 | 10:38 am The C9 Sessions are back in Phuket this Thursday 31st October 2024.   We have an awesome 90-minute program on luxury real estate, Michelin restaurants, international schools, hospitals and more. Phuket has changed dramatically over the last few years as it has morphed from a tourist haven to a residential destination. The more recent transformation is […]
Read more

C9 Hotelworks New Thailand Branded Residences Report Released

Category: Hotels|Real estate, Posted:21 Sep 2024 | 09:19 am In 2020, Aman Nai Lert Bangkok established a new standard for ultra-luxury branded residences positioning itself as the best-in-market product at the time. Today, the Porsche Design Tower Bangkok, developed in partnership with Ananda Development, has pushed those boundaries further, surpassing THB1 million (just over USD33,000) per square meter. This landmark project not only raises […]
SiaJai logo

Thailand's Leading Homecare Marketplace