Dusit International has announced that 62 Thai hotels around the world have been well-received by foreigners, and the situation has improved for the domestic hospitality sector. However, the industry as a whole has not hiked prices for the past eight years, despite neighboring countries increasing rates by 100-300 percent.
Mr. Chanin Tonawanik, Managing Director & Chief Executive Officer of Dusit Thani Public Company Limited, claimed there are four standout Thai hoteliers abroad. These include Dusit Thani Group, Minor International, Centara Group, and Onyx Hospitality Group.
These major players both invest and manage hotels abroad that have gained recognition for their brand of Thai hospitality. This hospitality has distinguished Thai hotels from those managed by Japanese and Chinese companies, which have been met with limited success. On the other hand, Singapore and Hong Kong hoteliers have continued to prosper abroad.
Domestically, the industry has failed to show growth, which Mr. Chanin attributed to political instability last year. Despite normalizing this year, the hospitality sector has been unable to raise room rates since 2007.
This is in sharp contrast to the situation in neighboring countries. During the same eight-year period, Singapore hotels have increased prices by 200-300 percent, while Hong Kong, Indonesia, and Vietnam have all increased by 100 percent.
Factors that will affect future growth include the Department of Civil Aviation’s recent downgrade by the International Civil Aviation Organization. If the department is unable to rectify the issue, the loss in air traffic will affect tourism in the Kingdom. Indonesia suffered similar repercussions from a civil aviation downgrade five years ago.
