Thai hotel chains unfazed by political uncertainty, anticipate revenue growth

[webfact]

 

Despite the ongoing political uncertainty, Thailand’s major hotel chains remain optimistic, as long as the situation stays peaceful and avoids any violent unrest. Centara Hotels and Resorts (CHR) and Minor International Plc voiced their confidence in their ability to weather any potential political storms, providing the environment remains stable.

 

Gun Srisompong, the chief financial officer of CHR, stated that any form of violence could spark negative perceptions of Thailand, thereby affecting the confidence of foreign travellers. These sentiments are often further fuelled by warnings issued overseas to their citizens, he said. However, so far, CHR’s properties have not experienced any cancellations or slower bookings due to the political climate.

 

The company foresees its revenue this year to surpass that recorded in 2019, estimating a total income of 10.8 billion baht, driven by an upward trend in travel demand. Hotels in prime locations, including Thailand, reported occupancy rates of 78% and 60% for the first and second quarters of this year, respectively. However, Dubai triumphed with an 80% occupancy rate across both quarters.

Gun expressed hopes for the swift inauguration of a new government, which may roll out measures to bolster the industry, such as subsidising energy costs.

 

by Alex Morgan

Supporters of the Move Forward Party gather at Democracy Monument during a protest in Bangkok, Thailand, Wednesday, July 19. (AP Photo/Wason Wanichakorn)

 

Full story: https://thethaiger.com/news/business/thai-hotel-chains-unfazed-by-political-uncertainty-anticipate-revenue-growth

 

-- © Copyright Thaiger 2023-07-24

 

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[Gottfrid]

Wait a couple of weeks, then they will realize

[StayinThailand2much]

They can always double room rates if only half the expected tourists arrive...