Tourist arrivals and trading performance sustain growth in the peak season

• In Q4, Thailand welcomed almost 9.5 million international visitors, bringing the 2024 total to more than 35.5 million, a continued growth from 2023 but still short 10% from 2019. Bangkok’s International visitation matched pre-pandemic levels with almost 24.9 million visitors.
• Hotels in Bangkok continued to register a double digit RevPAR growth y-o-y, driven by both elevated occupancy and ADR levels amid increased number of tourists with the peak season at the end of the year.

Three hotels with 712 rooms open in Q4 2024

• Three new hotels were completed in Q4 2024, adding 712 rooms to Bangkok’s existing supply. Openings comprise the 332-key Queensland Hotel Bangkok, the 260-key Ritz-Carlton Bangkok at One Bangkok and the 120-key Glow Bangkok Riverside.
• A significant number of hotels are slated to open in 2025 as a result of multiple delayed projects. Bangkok is anticipated to register more than 6,800 new hotel rooms in 2025.

This year was Thailand’s biggest year in hotel investment

• Thailand’s hospitality sector is currently witnessing a surge of interest. Prime locations, particularly in Bangkok and Phuket, are in high demand, and investors are increasingly seeing the destination as a core hotel market.
• Looking ahead, Thailand’s hotel industry is poised for a robust performance in 2025, with a positive outlook and anticipated significant transactions across the Kingdom.

Outlook: Thailand aims for an amazing 2025

• According to the Ministry of Tourism and Sport, 2025 will be promoted as an ‘Amazing Thailand Grand Tourism and Sports Year,’ as the country plans significant initiatives to boost its tourism industry and promote major events throughout the year.
• The Tourism Authority of Thailand has revised upwards its target for international visitation in 2025 to 40 million, thanks to simplified visa processes, like the e-visa system, available in any part of the world.