I'm actually surprised that this is not being advertised as a new 4,764,345 rooms available for 2024 to coincide with daily bookings !

4 hours ago, Jonathan Fairfield said:

In the next few years, 126 hotels with 31,053 keys are due to open across Thailand, our research team reports

That news will make TAT happy, now they are short of less rooms for their predicted tourist arrivals...????????

4 hours ago, Mickeymaus said:

Not one word about new short time hotels. 

You will just have to re-learn 'knee tremblers'. Choke Dee na Kap.....????

1 hour ago, herfiehandbag said:

I suspect that this is part of a very specific "re-orientation" of the tourist business. In fact probably better described as a " new" tourist industry, aimed exclusively at the Chinese market. Thailand will become a Chinese holiday centre. The business to be controlled by the "usual suspects" who previously had little or no interest in tourism.

2019 tourism stats:  10.9 million Chinese.  14 million from other Asian countries.  So, not just exclusively Chinese.  

5 hours ago, RotBenz8888 said:

While many of the "old" ones need to be demolished. 

     In some cases that is what is happening in Pattaya.  I think an old low-rise resort was razed for the new Grande Centre Point 2 going up.  And, an old hotel was demolished to make way for the Edge project.  The Imperial Hotel and Grand Sole Hotel are both closed and slated for redevelopment at some point.  

A good way to make money is to buy failed businesses for pennies on the dollar! 

Sounds like poor planning on someones part?

 

5 hours ago, Kadilo said:

Some pretty big projects there showing continued confidence that tourists will return once things resume to normal. 

I wouldn't get to excited in the future of tourism, 

New Hotels are years in the planning, from acquiring the land, to all the red tape on access rights, etc, etc,  

Many hotels take 5 years+ from start to finish, many of these hotels would have been planned long before the pandemic.... 

24 minutes ago, Soikhaonoiken said:

I wouldn't get to excited in the future of tourism, 

New Hotels are years in the planning, from acquiring the land, to all the red tape on access rights, etc, etc,  

Many hotels take 5 years+ from start to finish, many of these hotels would have been planned long before the pandemic.... 

Many are due to open this year and next 

Hopefully we can take advantage of having a clean hotel room for a change. All Thai hotels are very old and worn out. Need some modern clean ones. Get in quick before the dirty Chinese get in there !

7 hours ago, Jonathan Fairfield said:

In the next few years, 126 hotels with 31,053 keys are due to open across Thailand, our research team reports. We take a closer look at these upcoming launches.

Madness.

This will bring ASQ prices down.

 

I expect 5000 THB for 14 days 

 

In 2025.

5 hours ago, bkk6060 said:

Great.  That should be enough rooms for all the tourists who come next year.

And for the next 10 Years.....

5 hours ago, brucegoniners said:

Great! 31,000 more empty hotel rooms.

NOT According to the TAT,Mate......Wait till you see their tourist numbers !!

4 hours ago, Pedrogaz said:

Some people gonna lose a lot of money.

Won't Be Their own money though,Will it ??

7 hours ago, Denim said:

These new hotels will need appropriate names . i suggest the following might fit :

 

The Tumbleweed

The Flyblown Boutique hotel

M.T. SeaView Resort

The Wooden Spoon

Mongers Retreat

 

 

etc etc

Excellent suggestions. Please allow me to add a few more:

 

Little China House (a member of the Big China group)

Uncle Too’s

Plastic Jetsam View

Sick Water Buffalo Inn

The Money Pit

The Ill Gotten Gains Resort

The Hub of Everything

6 hours ago, bkk6060 said:

It certainly is not the best, but your post is false.

 

https://visaguide.world/news/45-world-countries-recognise-chinese-sinovac-vaccine-for-travel-amid-covid-19/

OK, I should have written 'The very few Countries that someone would actually want to go to.' Other than Switzerland, it is quite a poor collection. 

It'll all end in tears ????

Me thinks they might be empty for a while.

2,400 rooms are scheduled to go live across the country this year, to add to the 100's of thousands already empty, sitting there gathering dust.

41 minutes ago, Bkk Brian said:

2,400 rooms are scheduled to go live across the country this year, to add to the 100's of thousands already empty, sitting there gathering dust.

In accordance with the age-old wise proverb: "If you build it, they won't come"?

Just a realistic question… how many of those hotels will actually open in the next year or two?  It is a huge amount of work to open a hotel from when construction finishes, especially 5-star properies.  So many people to hire and train, and usually foreigners for some key positions.  The logistics of spending that type of money when demand is sure to lag seems tricky.

11 hours ago, Kadilo said:

Some pretty big projects there showing continued confidence that tourists will return once things resume to normal. 

When is your bet that things are going to return to normal?

 

Call me crazy, but i cant imagine why anyone in their right mind would invest in a property that could possibly sit 80% vacant for another 1-2 years.

what year is the expected boom in hotels?

 

but then again tea money needs a happy home

9 hours ago, ezzra said:

And as soon as they finished being built, a for sale or rent signs will go on all of them... why build if you can pick many hotels that have shut down for a fraction cost of a new hotel and put a for sale and for rent signs on them...

That reminds me of all the rows and rows of 2-3 story lock-ups  about the country ,all have signs  outside for sale or rent ,

They have just finished building  some more near me no hope of selling them, the market is just saturated with them ,will it be the same with all these hotels ,photo shots of a dead Pattaya and they want to build more hotels . 

It is estimated that the "black economy" share in Thailand is about 41% of the gross domestic product - it might be lower right now due to the pandemic.

 

However, that money need to be invested e.g. in Hotel properties. Whether they can sell the rooms or not doesn't matter - the property is there and can be sold or liquidated at a later point of time.

11 hours ago, bkkcanuck8 said:

I know when I did long-stay at Mayfair, Bangkok - Marriott Executive Apartments (Mayfair on Langsuan) -- the hotel was Marriott but was not owned by Marriott.  It was owned by Thais (land owned by Thai, building owned by Thai) but was basically a Marriott franchisee.  I have no idea if this is done by region or specific building (i.e. one building different franchisee in Bangkok than another)... but I could see it being a bunch of different developers/franchisee investors and not the Hotel chain itself (I suspect the Hotel chain will end up making money regardless of whether a hotel is viable). 

This way of operating is quite common in the hotel business worldwide. I've seen hotels changing name several times in the last 30 years. First operated by Westinn, next by Marriot and so on.

5 hours ago, Golden Triangle said:

It'll all end in tears ????

Think you are right. Locally at least 6 large scale developments under way,by the same token at least 6 finished too,not one occupied for last approx 2 years

3 hours ago, pookondee said:

When is your bet that things are going to return to normal?

 

Call me crazy, but i cant imagine why anyone in their right mind would invest in a property that could possibly sit 80% vacant for another 1-2 years.

Professor Klutch is optimistic. See one of his posts above.

Of course he was suggesting you buy a property in Pattaya, rather than rent at 5000 baht a month for a central avenue condo.

Property in the UK is averaging 10% capital growth per annum.

Of course, if you have burned your bridges and depending on the tourists to return and frequent your titty bar your in a world of trouble.

The hotel money will be Sino-Thai and an investing timescale of 5 to 10 years.

There was an article about it in Forbes. Bought a big site in Jomtein already.

The market it's aimed at will be Asian, mainly Chinese, not farang.

They will be an endangered species by then.

Just like a lot of farang bar owners still waiting for the time machine to transport them back to Jan 2020.

15 hours ago, Kadilo said:

Some pretty big projects there showing continued confidence that tourists will return once things resume to normal. 

I disagree. There's just a ton of hot developer money sloshing around. And this is the result. Like there was in 2006-2007. And its not restricted to Thailand. Its happening worldwide.

3 minutes ago, Harsh Jones said:

I disagree. There's just a ton of hot developer money sloshing around. And this is the result. Like there was in 2006-2007. And its not restricted to Thailand. Its happening worldwide.

Correct.

Pattaya is just a giant washing machine for dirty money.

Having said that i know of guys willing to have a punt on refurbs etc.

Their seriously minted and can obviously right it off if needs be.

They also have stated that before the April lockdowns, and borders still closed, the domestic trade just about paid their expenses.