As part of its expansion across the Asia-Pacific region, American hospitality group Best Western Hotels (BWH) will open eight new hotels in Thailand in 2023 to capitalize on the Kingdom’s resurgent tourism.
BWH operates 16 properties in Thailand under three brands: one World Hotels Collection hotel, 13 Best Western Hotels and Resorts properties, and two Sure Stay Hotels. The new ventures represent a 50% increase in BWH’s Thai portfolio, which currently includes properties in Bangkok, Phuket, Chiang Mai, Pattaya and Hua Hin. Koh Samui and Koh Phi Phi are also under consideration as new locations.
The Vice President of International Operations Asia-Pacific at BWH Hotel Group highlighted that Thailand’s recovery from the pandemic has been strong. He added that the return of tourists from China will push arrival numbers higher in 2023.
Thailand has been a global tourism success story for decades, and the sector accounts for at least 10% of the Kingdom’s gross domestic product. As travel and tourism have been recovering worldwide, several travel and accommodation websites have reported that Thailand is one of the most searched-for destinations. Occupancy rates at many Thai hotels and resorts have bounced back to pre-pandemic levels, with their occupancy rates matching those seen in 2019, before Covid-19 travel restrictions were implemented.
The revival of Thailand’s tourism sector also presents an opportunity for foreign investors looking to enter the country’s retail industry, as the influx of tourists brings with it increased consumer spending and demand for goods. This growing market provides an attractive opportunity for foreign businesses and investors to establish a presence in Thailand and tap into the country’s thriving retail sector.
(Source: Royal Thai Embassy, Washington D.C.)
