People should expect more hotel rooms in Rayong, Pattaya, and others in the Thailand Eastern Economic Corridor (EEC), which is helping hotels and tourism in the area as the industrial zone draws in investors and developers, with many projects being developed in the corridor, like mixed industrial sites and resorts.
The EEC spans over 30,000 rai in several provinces; Rayong, Chon Buri and Chacheongsao.
In Chon Buri alone, there are 1,046 accommodation properties amounting to a total of 81,607 rooms, including both registered and unregistered properties.
Many more hotel rooms in Rayong and in the corridor will be available, as several hotels are undergoing development in the zone, scheduled to open doors up through 2024, according to Managing Director Bill Barnett, of hospitality and property consultancy C9 Hotelworks.
At least 11 properties or 2,645 rooms are expected to be added to the greater Pattaya market over the next five years, like CitadinesJomtien Beach, Amari Pattaya Ocean Suites, and Grand Centre Point, among others.
Thai Hotels Association Eastern Chapter President SanpechSupabowornsthian says that more hotels have opened in the eastern region in 2018, alongside currently existing ones undergoing renovations.
For hotel investments, Rayong province is one of the fastest growing areas, thanks to the EEC initiative. More local and international chains have plans to open hotels in the region in the future, with the initiative aimed at taking advantage of the booming of the MICE industry that’s expected to move into the region.
In response to the EEC initiative, Star Convention Hotel in Rayong recently renovated 200 of its rooms and rebranded to Mercure, while a new hotel, the renamed AksornRayong, opened not too soon ago, aimed the luxury and high-spending demographic.
Kunchorn Modern Living, a residence developer in the province, is also planning to diversify into the hotel business by investing in a three-star hotel with 140 units. Meanwhile, Golden City Rayong is planning to build a new hotel with 80 rooms, and Ploenjai Group will be developing a 70-room serviced apartment project.
Other key developments are underway in the EEC, with Barnett saying that the hotel performance of provinces in the EEC are on the up as the zone’s impact drive positive market sentiment.