A rebound in foreign tourist arrivals into Thailand is pushing up the nation’s hotels occupancy rate from a record low during the Covid-19 pandemic, according to Bloomberg.
The Thai Hotels Association and the Bank of Thailand conducted a joint survey of 106 hotels in August, and reported that room occupancy increased to 48% from 46% a month earlier. The survey, conducted from Aug. 8-24, showed that this helped lift the average employment rate at these hotels from 71% to 75%.
With the authorities scrapping all pandemic-era restrictions that kept visitors from Thailand for almost two years, hotels in Thailand are benefiting from a rebound in global travel demand. As a result of government-funded air travel and hotel subsidy programs, hotels have also seen higher occupancy rates.
A tourism revival is seen as crucial to Thailand’s economic recovery since the sector contributes 12% of GDP and 20% of employment, according to BOT.
According to BOT Governor Sethaput Suthiwartnarueput, foreign tourist arrivals are expected to exceed 8 million this year, restoring the economy to pre-Covid-19 levels by the end of the year.
The hotel survey revealed the following key points:
- Despite improvements in hotel incomes, overall revenue remains well below pre-Covid-19 levels
More than half of the hotels reporting incomes above pre-pandemic levels are rated 4-5 stars
- At around 40%, occupancy rates were seen in September
- In spite of rising inflation, about 60% of hotel operators are concerned about falling purchasing power and lower-than-expected tourist arrivals
- As a result of new outbreaks, there may be a labor shortage and disruptions to economic activities.
Budget-Friendly Hotels Tip for Thailand
Thailand offers stunning beaches as well as forests, jungles, and mountains. A vacation in Thailand is never dull, whether you want to swim, sunbathe, or explore wildlife. When you’re traveling on a budget, it can be tough to find a budget-friendly hotel.
The process doesn’t involve any mysterious codes or processes. The only thing you need is the right knowledge and a little digging.
1. You may want to consider moving a day forward or backward if you can afford it. Additionally, you can sometimes save a great deal of money by doing this. Visiting Thailand in the off-season can also save you a lot of money.
With a Travel Rewards credit card, you can save money on hotel bookings whether you’re a regular domestic or international traveler.
2. Find the best price for your hotel booking by comparing all of the top hotel booking search engines. In addition, if you’re using an Android device, turn off incognito mode before doing your research.
3. Some hotels offer deals like “stay two nights, get the third night free”. You should book your hotel as soon as you find a good deal for this type of hotel. Discounts for this type of hotel are for a limited time only.