2022-07-27-莱坊-Phuket_Luxury_Upscale_Hotel_Market_1H_2022_5页_739kb

Phuket Luxury & Upscale Hotel Market Overview Summary

Market Recovery

In the first half of 2022, Phuket's luxury hotel market showed modest recovery from pandemic lows, primarily due to increased domestic tourism and some foreign arrivals, especially from East Asia. International visitor arrivals reached around 512,000, with a rebound in occupancy rates.

Supply and Demand

Total hotel room stock rose to 24,263 rooms, with 29% average occupancy. New hotel openings occurred, but room rates remained 30% below pre-pandemic levels. Supply growth in key areas continues, but development is sensitive to pandemic-related disruptions.

Outlook

Market prospects are uncertain in the short term due to ongoing travel restrictions and geopolitical factors, such as the Russia-Ukraine conflict impacting tourism. Recovery is expected to continue slowly through 2022, but full pre-pandemic levels may not be reached until 2024 or later. New construction plans might be revised.