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Thailand Restores Its RevPAR in 2012
Last year was definitely successful for Thailand as it managed to restore its RevPAR that added 15.4% and estimated US$75. The latest report by STR Global shows the growth of all main figures. The demand added 13.3%, helping to increase the occupancy by 10% to 69.2% in total. The average daily rate (ADR) also grew by 4.9% and estimated (US$108).
Thailand has recovered after a series of problems, such as political unrest and flood in main cities of the country – Bangkok, Pattaya, Phuket, Chiang Mai, and Koh Samui. The highest ADR was reached by Koh Samui. There is nothing surprising in this, as the resort has the highest concentration of luxury hotels in the country. Rapid growth of demand (+31.3%) was combined with moderate growth of supply (+3.3%), making existing hotels even more profitable. The only market in the country with negative ADR was Hua Hin. ADR here fell by 2.2%, but, thanks to growth of occupancy by 7.3%, RevPAR added 5%.
In terms of the growth of supply, Bangkok was the leader as 2,993 new guestrooms were opened in the city in 2012 (+4.3%). However, the growth of demand in the capital city was sufficient (15.6%), so hotels in Bangkok finished the year with good results. Other destinations with high growth of demand were Koh Samui (+31.3%), Chiang Mai (+14.3%), Hua Hin (+11.5%), Pattaya (+9.8%), and Phuket (+4.4%).
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