Research

Bangkok Hotels Market Update 1Q-2023

The spike in ADR since Q4 2022 should normalise in Q3 2023 as mass tourism and renovated supply return to the market.

May 22, 2023
Contributors:
  • Visant Srimanothip
Highlights
  • Arrivals show steady month to month recovery as at YTD March 2023
  • Bangkok welcomes three additional hotels in Q1 2023
  • RevPAR of luxury hotels improves by 314.4% y-o-y
  • Outlook: Occupancy to gradually close gap with pre-pandemic throughout 2023

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