Trading conditions are still difficult in 2021. Significantly reduced demand due to ongoing and fluctuating travel restrictions present serious challenges to the sector.
With only a trickle of inbound tourists, it is estimated that the overall hotel occupancy rate in Thailand in 2021 will be 25%, well below the average rate 70% registered in 2019. With foreign tourists continuing to stay way, hotels focus on domestic tourists instead.
Unlike other areas of the travel industry such as car rental, where operators can more easily shift inventory to outlets less dependent on inbound arrivals for transactions, hotels remain less dynamic and will struggle with low occupancy rates in the years ahead. Hotels located at airports or those that catered primarily to business arrivals suffered the most and these hotels are expected to take longer to recover.
Many small-scale players will towards online travel agencies (OTAs) due to the rise in online searches and the impact of social media. Tourists tend to search for hotel information through OTAs because it is easy to compare details of room rates, facilities and locations through their websites.
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