However, recovery started to emerge
in late Q3; and in Q4 numbers really
turned around for Bangkok. After
the dismal start to the year, RevPAR
(Revenue Per Available Room) increased
by +2.5% YoY in the last quarter.
Occupancy in December for Bangkok
was one of the highest ever recorded
by STR Global since 2000 and when
comparing quarters, Q4 2014 showed the
best occupancy Bangkok has seen since
2006. Moreover, RevPAR was the second
best Q4 for the last decade suggesting
that six to nine months is the new
recovery time norm for Bangkok.
Delegates also heard the story of
Thailand’s key resort markets, where
Phuket occupancy fell by -5.7% YoY and
Koh Samui decreased by -1.6%. It was
positive news for Chiang Mai where
occupancy decreased -4.2%, but RevPAR
growth was positive, driven by upward
ADR (Average Daily Rate) movement.
Hua Hin was also able to hold rates up
well, but Pattaya suffered more due to a
-10% decline in YoY occupancy .
Subsequent sessions featured industry
heavyweight speakers from many top
companies including Horwath HTL,
Jones Lang LaSalle, QUO Global, Baker
& McKenzie and Kingdom Property.
This annual event is organized by
the American Chamber of Commerce
in Thailand and Bill Barnett, Managing
Director of leading hospitality
consultancy C9 Hotelworks.
Feb 15 - Mar 15 , 2015
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