Thai Luxury Hotel Rates Rose 5% Last Year
Skift Take
In 2024, Thai luxury hotels experienced significant year-on-year increases in average daily rates and occupancy across key tourist cities.
STR said the average daily rates for Thai luxury hotels rose 5.3% year on year in 2024. Occupancy rates also rose across key tourist cities. STR said the ADR growth is up 42.7% compared to 2019, outpacing hotels in London and Singapore. London and Singapore luxury hotels' ADRs are still way above Bangkok. STR also said occupancy rates in seven of Thailand's tourist cities showed steady growth through last year, with Chiang Mai having the largest year-on-year occupancy increase at 15.1%, followed by Krabi at 13.2% and Samui at 11.9%. The largest increases in ADR were Samui at 9.2%, followed by Phuket at 7.8% and Bangkok at 7.4%.
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