During 2H 2019, luxury hotels in Bangkok were still popular with high-end and mid-level tourists with continued purchasing power. In 2H 2019, it was found that there were only 146 newly launched luxury hotels which was located in Lumpini area, the occupancy rate still has a relatively high average occupancy rate from both Asian and European tourists and the overview for room rates and income per room in 2H 2019 was an increase of approximately 4% was due to the high tourist season.
Overall, the luxury hotel market in 2020 is expected to remain stable. Due to the direct effect by the global economic problems with foreign tourists being cautious when spending. As well as the Thai tourism situation in 2019, the hotel operators must adapt especially careful cost control as the world economy and competition in the next year are quite intense. Although the luxury hotel supply is limited compared to other hotels. But the business must be managed carefully and carefully since the revenue entering the economic slowdown in 2020 may be uncertain.
The strengthening baht is still the main obstacle for the tourism industry in the next year. The hotel business will be because it makes the room rates increase. As a result, various hotels must compete to attract customers to stay. Therefore, the hotel business must adjust and use promotion and compete and attract more clients