White Paper: Phuket Hotel Market Update
10 September 2010
Phuket Hotel Market Update
Phuket hotels are back on track from the low point of last year. Passenger traffic through Phuket International Airport in H1 2010 surged 28% from a year ago, and 13% from the latter half of 2009 signaling a solid return in its tourism industry.
A significant sign of recovery can be seen in the improvement of hotel wide performance. Hoteliers saw higher occupancies rise from 61% in H1 2009 to 70% in the same period this year.
This came at a cost resulting in a decrease in room rates by 9%.
Market dynamics are evolving with a game changing shift in tourist profile from a historical ‘Eurocentric’ dependence on long haul European visitors to short haul Asian travelers.
There might be blood as the hotel pipeline still shows development resilience and investment confidence with an additional 4,538 rooms or an 11% spike over the next four years. A concern on oversupply could be cushioned by induced demand and larger trading volumes come into play in the long term prospects.
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| Attachment | Size |
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| TBC_phuket-hotel-update-august-2010.pdf | 574.11 KB |
