thailand hotel industry outlook 2021

With some valuable insight from data and analytics company GlobalData, here are some of the notable hospitality trends to watch for in 2021. Click here. Even though the economy is forecasted to rebound by 3.5% in 2021, the future remains clouded with uncertainty. "Sorry! Hospitality Industry in Thailand industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation. In 2018, Thailand’s construction industry, including both public and private construction, was valued at THB 1.3 trillion. Several Home-grown hotel chains, independent hotels, and international hotel brands and their chains are a part of this expansion. – Free Competitive analysis of any 5 key market players. The number of visitors to Thailand almost doubled in 2019, when compared with the arrivals in 2011. The industry has experienced increased job satisfaction, thereby increasing revenue. The Report will be delivered with in 24-72 hours. Thailand is the ninth country in the world’s most visited countries list. The hospitality industry in Thailand is a combination of international hotel chain brands, domestic grown brands, and independent hotels. Respondents to the survey said that the hotel industry is currently in “full downturn” or at the “bottom.” expertise, problem solving ability and inclination. The Thai government introduced tighter lending policies with reduced LTV-ratios as late as April 2019. customized per your requirements. A complete background analysis of the hospitality industry in Thailand, which includes an assessment of the industry associations, overall economy, and emerging market trends by segments, significant changes in the market dynamics, and market overview, is covered in the report. Hospitality Industry Stats and Growth Projections in 2021. We expect a return to positive growth in 2021-22, but at lower levels: 1.8 per cent in 2021, compared to 2.5 per cent previously, and 2.5 per cent in 2022 from the previous projection of 5 per cent," said Tim. Salary increment declines for the first time in a decade Thailand. Highlights of the Hospitality Industry in Thailand Market Report: Finally, Hospitality Industry in Thailand Market report is the believable source for gaining the market research that will exponentially accelerate your business. & Tourism, Information We Offer Customization On Report Based On Specific Client Requirement: © 2021. The government has focused on developing other regions in the country to attract more visitors and to generate more revenues from their visits, and eventually developed and upgraded better transportation and connectivity facilities to regions, like Pattaya, Chiang Mai, Phuket, Koh Samui (Surat Thani), and Karbi. Brighter outlook for Thai agriculture in 2021 boosted by favorable weather conditions, but prices may be at risk (Current Issue No.3178) KResearch assessed that the Thai agriculture in 2021 is set to have brighter outlook, with farm income projected to increase in the range of 1.0 to 1.5 percent YoY. The number of international visitors to the country is on the rise since the 2000s, and there were only two years (due to tsunami in 2004 and 2009 riots in Thailand and global recession) where there was a drop in total international arrivals. The East Asian market is the largest contributor with THB 810 billion and occupies 40% of the total share, where the Chinese alone contributed THB 581 billion. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand, and supply data (as applicable). Today, hotels are pocketing more than $15 per room. 8 Jan 2021. Manage hotel operations. The Global Hospitality Industry in Thailand Market Research Report 2021-2026 is a valuable source of insightful data for business strategists. Thailand’s inbound tourism in 2021 has begun to see positive news, regarding significant progress on the COVID-19 vaccine development, and its planned use … Market Intelligence. Please check with your bank for further details. The number of international visitors to the country is on the rise since the 2000s, and there were only two years (due to tsunami in 2004 and 2009 riots in Thailand and global recession) where there was a drop in total international arrivals. The number of visitors to Thailand almost doubled in 2019, when compared with the arrivals in 2011. Thailand’s hotel industry is now entering a recovery phase following the country’s decision to issue a partial easing of lockdown measures, including inter-provincial travel restrictions. Agriculture. our privacy policy, By submitting, you confirm that you agree to our privacy Nutrition & Wellness, Chemicals Thailand is the ninth country in the worlds most visited countries list. The European market contributed THB 500 billion and Russian constituted THB 120 billion of it. The hospitality industry will continue to face an unprecedented level of challenges amid the coronavirus pandemic in 2021 and success will rely on how companies and individual properties respond to the key trends that are poised to shape the year ahead. https://www.marketinsightsreports.com/report/purchase/10192356323?mode=su?Mode=74. The East Asian market is the largest contributor with THB 810 billion and occupies 40% of the total share, where the Chinese alone contributed THB 581 billion. & Communications Technology, Investment Tourism, a principal driver of Thailand's economic growth, has been one of the hardest-hit sectors by the crisis. How will Thailand’s property market perform in 2021? It is likely that the country will be benefitted from Chinese arrivals, remaining a continuous driving force in the tourism or hotel … https://www.marketinsightsreports.com/reports/10192356323/hospitality-industry-in-thailand-growth-trends-and-forecasts-2020-2025/inquiry?Mode=74, Top Companies in the Global Hospitality Industry in Thailand Market are Accor SA, Marriott International, InterContinental Hotel Group, Centara Hotels, Onyx Hospitality Group, Cape & Kantary Hotels, Compass Hospitality, Dusit Hotels & Resorts, Centre Point Hospitality, Imperial Hotels & Resorts, Loyalty Programs offered by Major Hotel Brands and Other. About 100 reports. Report scope can be The Singapore hotel industry will continue to struggle in 2021 … – The country recorded a 9.6% year on year growth rate in 2018, which accounted for THB 2 trillion. The Revenue per Available Room (RevPAR) also recorded 10.2% year on year growth rate. Phuket managed to score 0.5% growth rate after ferry accident in July, which impacted on the arrivals from China. The home-grown brand Centara Hotel Group offers a large supply of around 6,300 rooms, whereas Aspira Hospitality has the largest portfolio of 41 hotel properties in the country. Only Malaysia, the Philippines, Vietnam, and Thailand continued to see zero international destinations in their top 30 searches in both December 2020 and March 2021. & Materials, Consumer Bangkok, which is the travel and tourism hub of Thailand, recorded 81.2% OR which was 79.4% in 2017. The Thai economy would significantly contract due primarily to exports of goods and services, before expanding in 2021 Headline inflation in 2020 and 2021 were projected to be lower than the inflation target in line with energy prices and significantly lower-than-expected economic growth Economic and inflation forecasts would be Consumer preferences will drive hotel room redesigns and the acceleration of technology advancements Hospitality Industry 2021 - Thailand Market Research & Statistics. The tourism industry in Thailand is on the rise, and it occupied the ninth rank in the world’s most visited countries list, which has been driving the hospitality industry in the country. Occupancy rates and revenue for hotels will tend to grow in line with continuing growth momentum of the markets for both domestic and international tourism, in particular for increases in the number of Chinese tourists coming to Thailand, who currently … According to the Airports Authority of Thailand, there was a 1.1% year on year increase in a number of domestic flights occupancy. IrfanTamboli (Head of Sales) – Market Insights Reports, Phone: + 1704 266 3234 | +91-750-707-8687, sales@marketinsightsreports.com  | irfan@marketinsightsreports.com, Hospitality Industry in Thailand Market 2021 Business Scenario –  Accor SA, Marriott International, InterContinental Hotel Group, Centara Hotels, Hospitality Industry in Thailand Industry, Hospitality Industry in Thailand Market Analysis, Hospitality Industry in Thailand Market Forecast, Hospitality Industry in Thailand Market Trends, (S)-Alpha-[2-(Dimethylamino)Ethyl]-2-Thiophenemethanol (CAS 132335-44-5) Market Survey Report 2021 Along with Statistics, Forecasts till 2026, Aircraft Defibrillators Market Competitive Research And Precise Outlook 2021 To 2026, Soft Pack Wet Tissue Market 2021 Current Status and Challenges with Future Opportunities to 2026, Self-Supporting Run-flat Tire Market Detailed Analysis of Current Scenario with Growth Forecasts to 2026. Stay ahead. Processes, Real By submitting, you confirm that you agree to Potential and niche segments/regions exhibiting promising growth. This resulted in a rise in hotel developments in those regions and registered doubled growth in room supply during 2015, when compared to 2000, according to Bank of Ayudhya, UNWTO. Domestic tourism is also on the rise in Thailand and made a 3.6% year on year growth rate. With a weak economy and developers with much excess inventory, the residential real estate market is predicted to remain weak throughout 2020 and the first half of 2021. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. The citizens made around 164 million trips in 2018, which was largely encouraged by economic growth and expanded tourism in secondary cites in the country. Bangkok, which is the travel and tourism hub of Thailand, recorded 81.2% OR which was 79.4% in 2017. Domestic tourism is also on the rise in Thailand and made a 3.6% year on year growth rate. In the period 2019-2021, the domestic market for beverages is expected to see low levels of growth even as the Thai economy expands Thailand Industry Outlook 2021-2023 | Bank of Ayudhya. Thailand’s economic outlook for 2021 Finance Ministry Reduces 2021 Growth Forecast to 2.3% Thailand extends the 7,000 baht “Rao Chana” scheme to 33.5 million Thais Retrieved May 05, 2021, from https://www.statista.com/statistics/1154987/thailand-length-of-stay-of-foreign-hotel-guests/ National Statistical Office (Thailand). Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team. – Free 40 analyst hours to cover any other data point. ", We use cookies for a better user experience. This resulted in a rise in hotel developments in those regions and registered doubled growth in room supply during 2015, when compared to 2000, according to Bank of Ayudhya, UNWTO. The OR in Chon Buri rose to 79.4% which was at 77.6% in 2017. Our sales representative will reach you shortly with the details. Thailand’s Tourism and Hotel Industry Outlook for 2018-2020. 2021-04-15 13:002021-04-15 14:00Hospitality Outlook 2021Add to CalendarAll eyes are on the hospitality industry as the recovery is poised to begin. Private equity groups and high-net-worth individuals will continue to be active investors of hotel assets in 2021. Rising International Visitors to Thailand are Driving the Market. The projected salary increments come on the back of a weak economic outlook for Thailand, with Gross Domestic Product (GDP) expected to contract by 7.8% in 2020 1. 4.3 Impact of COVID-19 on the Hospitality Industry, 4.4 Insights on Revenue Flows from the Accommodation and Food and Beverage Sectors, 4.5 Leading Regions in Thailand with Respect to Number of Visitors, 4.6 Investments (Real Estate, FDI, and Others) in the Hospitality Industry, 4.7 Technological Innovations in the Hospitality Industry, 4.8 Insights on Shared Living Spaces Impact on the Hospitality Industry, 4.9 Insights on Other Economic Contributors to the Hospitality Industry, 6.3 Loyalty Programs offered by Major Hotel Brands. The Thailand Industry Outlook report evaluates the attractiveness of selected Thai industries to support credit evaluation for the bank’s clients over the next 3 years (2021-2023). Your payment is successful. Estate and Construction, Hospitality Industry in India - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Hospitality Industry in Spain - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Hospitality Industry in France - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Hospitality Industry in Turkey - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Hospitality Industry in the Netherlands - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026), Hospitality Industry in Japan - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026). Accor SA is occupying a major share in terms of total room/keys supply with around 16,000 rooms, followed by Marriott International and InterContinental Hotel Groups, which together can meet the total number of rooms offered by Accor SA alone. Planned new attractions and infrastructure projects scheduled between 2021 and 2030 – including the expansion of the two integrated resorts and Great Southern Waterfront – bode well for future visitation and, combined with the relatively low level of new room supply anticipated over the near term, this should continue to underpin hotel fundamentals over the medium term. Thailand's hotel industry may see 2 millions jobs lost from new outbreak Source: Thailand Tourism Council, Thai Hotels Association Note: 2021 unemployment figure is an estimation Explore Full Report With Detailed TOC Here: https://www.marketinsightsreports.com/reports/10192356323/hospitality-industry-in-thailand-growth-trends-and-forecasts-2020-2025?Mode=74. Are the major companies operating in Hospitality Industry in Thailand. The central bank held the benchmark interest rate steady at 0.5% on Wednesday, which leaves a … Download Unlimited Documents from Trusted Public Sources. Opportunities, Manufacturing He is a hotel graduate of Napier University, Edinburgh. In Thailand, the majority of hotel developments were used to concentrated in Bangkok as it is the travel and tourism hub of the country. Global Hotels Industry April 2021 $ 4950 Global Hotel and Hospitality Management Software Industry April 2021 $ 4950 Turkey Hotel Market & Volume, Budget & Star Rated Hotel ( 1st, 2nd, 3rd, 4th, 5th) Star, City, Province, Chain Hotel (International, Domestic), Company (Hilton, Marriott, Radisson, Accor) & Forecast May 2020 $ 2190 There is an expected surge in domestic travel and tourism with the reintroduction of domestic flights, and the slow opening of international borders in the coming months. 2.3 % from 2.8 % is studied from 2016 - 2026 to Airports. As well value chain and its distributor analysis and Russian constituted THB 120 billion of it new task SWOT,! 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