Decline in income mostly affects hotels rated 3 stars or lower, Thai Hotel Association survey finds
International news
Despite the rapid recovery of the tourism industry, around 40% of hotel operators nationwide are still unable to generate the same level of revenue as before the Covid-19 pandemic, the Thai Hotels Association (THA) said on Thursday.
The THA reported that a survey conducted in collaboration with the Bank of Thailand in August, showed that 60% of 106 hotel operators nationwide had already achieved pre-Covid earnings. Most of the respondents in this group are four-star hotels or higher located in the Central, Eastern, and Southern regions.
However, some 40% of respondents, most of them 3-star or lower, said they have been unable to achieve the pre-Covid revenue milestone.
“Hotels struggling to meet the pre-Covid revenue target are either located in highly competitive areas or targeting customer groups that are sensitive to price increases,” THA president Thienprasit Chaiyapatranun said.