Bangkok bucks national trend

• As of YTD May 2026, Thailand registered a 2.3% y-o-y decline in international visitor arrivals, reaching a total of 14.0 million tourists. Indian and Chinese inbound tourism continued to recover strongly, with increases of 18% and 8% respectively. However, this was not enough to offset the overall decline in visitor arrivals, particularly from Middle Eastern markets.
• Bangkok recorded 1.7% growth in tourism, supported by a 3.4% increase in domestic arrivals to 12.7 million, while international arrivals declined slightly to 10.5 million.

One luxury hotel opened in Q2 2026

• In April, new hotel openings remained limited in Bangkok, with only one property opening: the upscale 405-key Grand Nikko Bangkok Sathorn.
• As of YTD June 2026, Bangkok’s hotel room supply is predominantly concentrated in two segments, upscale and midscale, which together account for nearly three-quarters of the market. Looking ahead, from July 2026 to December 2030, the market is expected to be dominated by the upscale segment, which is projected to account for 49% of total new rooms, or 7,495 keys.

Market fundamentals stayed firm

• YTD June 2026 RevPAR in Bangkok hotels increased by 1.0% year-on-year, supported by higher occupancy rates.
• Hotel investment activity in Thailand remained subdued in Q2 2026, with one transaction completed: the divestment of the 258-key Ibis Phuket Kata by Origin Property, following its Build-Operate-Exit-Reinvest asset management model.

Outlook: TAT lowers 2026 visitor forecast while tourism revenue remains on track

• The Tourism Authority of Thailand (TAT) has lowered its 2026 international tourist arrival forecast to 30–34 million visitors, down from its initial expectation of 36.7 million.
• Despite this downward adjustment, driven by global economic pressures and flight constraints, total tourism revenue is still projected to reach a robust THB 2.58 trillion.