Feb 3, 2024
Thai Hotels Face Uphill Battle Due to Government Policy and Rising Costs
Thai hotels are struggling as the government ends property tax reductions and energy prices surge, causing operating costs to increase by 10%. Despite a surge in inbound tourism, many hotels are finding it difficult to increase profits due to rising costs. A survey by the Thai Hotels Association and the Bank of Thailand shows that nearly 80% of hotels are experiencing a revenue lag compared to 2019 levels. However, there is optimism for a surge in foreign guests, particularly in the four-star and higher-rated hotel segment.