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Friday, March 29, 2024

Indonesian and Thai hotels rethink the resort experience

PHUKET, Thailand — Hotel operators just about everywhere have had a tough time during the pandemic, but perhaps nowhere more so than in the tourist-dependent economies of Southeast Asia.

Their primary customer base, cashed-up foreign tourists, has been wiped off the map and eight out of 10 hotels in the region closed when COVID-19 began spreading, according to property consultancy Colliers.

Now, many of those that reopened have been dragged into price wars to lure domestic travelers but overall numbers fall far short of recovery. Occupancy rates in Indonesia’s Bali, for example, averaged 10% in the first four months of this year, while a recent survey by The Nation newspaper in Thailand found 47% of hotels in that country have just enough cash to last about three months.

And things are about to get even tougher.

The Top Hotel Projects construction database shows 580 hotels with 153,751…

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