Smaller Thai hotels are still struggling
The sluggish economies in China and Japan as well as an unequal tourism recovery that favours large operators are seen as the the most critical challenges for the new government by tourism operators.
A survey conducted last month by the Thai Hotels Association (THA) and the Bank of Thailand found 29% of hotels rated three stars or less suffered a severe impact from interest rate hikes and might need debt restructuring.
The Tourism Council of Thailand (TCT) predicted a similar trend for the third quarter as 34% remain uncertain about the tourism outlook and 19% believe they will earn less this quarter than the previous one.
Chamnan Srisawat, president of the TCT, said solving unequal business opportunities for small and medium-sized enterprises (SMEs) remains a…
