With the increasing number of tourists booking Bangkok city center Hotel, it is not surprising that the metropolitan city of Thailand is reaping its rewards. Based on the number of occupancy for the month of January and the record of the revenue gathered from hotels in the city of Bangkok, it was a month to remember. The country which grabbed the second spot for the highest occupancy rate is Hong Kong. These data are provided by the latest assessment conducted by the STR while taking into consideration all the hotels located in the Asia Pacific region.
According to STR, around 63,000 hotels participated which amounted to a total of 8.5 million rooms all over the globe. These are then used for market data which proved that January 2019 was a mixture of both good and bad. All of the hotels were subjected to three performance factors including revenue for every available room, occupancy and daily rate on average.
Using the United States dollar as a basis for the currency, comparing side by side January 2019 and January 2018, the performance for the occupancy rate reduced by 1.3 per cent and it is now down to 65.9 per cent.
The daily rate in average has slightly increased by 0.6 per cent and is now at US$102.53 while there is a decrease of 0.7 per cent with the available room’s revenue which has gone down to US$67.52.
By conducting an inspection on hotel markets using local currency, hotels in Bangkok are seen to be record breaking for the month of January in comparison to the same period last year. The occupancy rate is higher by 2.4 per cent and is now at 84.1 per cent. The daily rate in average has also increased by 1.6 per cent at 3,669.85 baht while the revenue for available room improved by 4 per cent which means it is now 3,084.65 baht.
Looking at the database of Bangkok, the RevPAR as well as the absolute occupancy for January 2019 is recorded to be the highest in history. This is good news for all hotel businesses including Bangkok city centre Hotel because this means that the growth of the supply is now slower compared to the demand.