Hotels & Hospitality Group | January 2017
Hotel Destinations
Thailand
Contents
Thailand’s Key Destinations
04
05
Destinations
05Bangkok
06Phuket
07 Khao Lak
08 Koh Samui
09Krabi
10Pattaya
11 Hua Hin
12 Chiang Mai
Contributors
13
14
Quick Facts
4
Hotel Destinations Thailand
Chiang Mai
Thailand’s
Key Destinations
Bangkok
Pattaya
Hua Hin
Koh Samui
Khao Lak
Phuket
Krabi
INTERNATIONAL VISITOR ARRIVALS
15.9 million 19.2 million 22.4 million 26.5 million 24.8 million 29.9 million 32.6 million
2010
26.52013million 24.82014million 29.92015million 322016
million
2011
2012
2013
Source: Department of Tourism Thailand, Ministry of Tourism and Sports Thailand
2014
2015
2016E
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
Bangkok welcomed 19.4 million international
visitors in 2015, representing a strong
growth of 24.5% y-o-y, as visitation
exceeded the international arrivals
number in 2013 to set a new high for the
city. According to the Mastercard Global
Destinations Cities Index, Bangkok is
expected to be the most visited city in the
world in 2016, with a 9.8% increase in
tourist arrivals as at October 2016 reaching
17.3 million.
Mainland Chinese visitors continue to be the
largest source market to Bangkok, followed
by Japan, South Korea, and India. As at
October 2016, the fastest growing markets
to Bangkok y-o-y were Mainland China
(13.3%), USA (13.1%), India (11.4%) and
the Middle East (11.1%). While Russia has
dropped out of the top ten source markets to
Bangkok in 2015, YTD October 2016 saw a
pickup in Russian visitor arrivals of
8.6% y-o-y.
In 2016, over 1,952 rooms entered the
hotel market. Hotel room supply is expected
to substantially grow in the near future
with some 3,000 rooms proposed to
enter the market during 2017. However,
we see 45.0% of this future supply being
located outside of the Sukhumvit area,
and concentrated in the upscale segment.
Notable future openings include the Park
Hyatt Central Embassy, The Bangkok
EDITION by Ritz-Carlton, Premier Inn
Sukhumvit Soi 11, and ibis Bangkok
IMPACT.
The Thai government plans to further
boost visitation to the nation by extending
its multiple entry visas for certain visitors,
alongside a temporary reduction in visa
charges and waiver of visa fees for foreign
visitors from 19 countries. To support further
growth in visitor arrivals, both Suvarnabhumi
and Don Mueang airports are undergoing
expansions to enable greater flight and
passenger capacities. With ongoing
infrastructure improvements to boost both
domestic and international connectivity,
Bangkok is set to further benefit from
the emergence of new destinations as a
regional stop over.
Bangkok
Bangkok has performed strongly in its re-emergence against
recent local political and global economic challenges to
achieve record visitor arrivals. With ongoing infrastructure
improvements, and recognition in global tourism rankings,
prospects for the Thai capital’s hotel and hospitality sector
looks positive. Bangkok offers a mix between cultural
charms of Royal palaces and temples, to a modern and
vibrant shopping, culinary and night life scene. Its location
also serves as a starting point for international visitors
to enjoy a colourful city break en-route to the country’s
paradise seashores and lush northern regions.
NOTABLE
HOTEL DEALS
Hotel De’Moc
President Palace Bangkok
Swissotel Nai Lert Park (2017)
NEW NOTABLE HOTELS
442
rooms
Grande Centre Point
Hotel Thonglor
UPCOMING
HOTELS
Park Hyatt Central Embassy
The Bangkok EDITION by Ritz-Carlton
248
rooms
AVANI Riverside
Bangkok Hotel
240
rooms
Novotel Sukhumvit
20
QUICK FACTS
17.3million 1,952rooms 72.9%
International Visitor
Arrivals (YTD Oct 2016)
Number of New Rooms
2016
Occupancy
THB
5,954
Average Daily Rate
(ADR)
Hyatt Regency Bangkok Sukhumvit
Premier Inn Sukhumvit Soi 11
ibis Bangkok IMPACT
Note: Thailand Hotels refers to Luxury Hotels.
Source: STR Global (YTD Nov 2016), Department of Tourism Thailand, Ministry of Tourism and Sports Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
THB
4,341
Revenue per Available
Room (RevPAR)
5
6
Hotel Destinations Thailand
TOURISM
DEMAND
Phuket welcomed a total of 9.1 million
international overnight visitors in 2015,
registering y-o-y growth of 12.5% from 8.1
million the previous year as the country
recovered from a challenging 2014. The
impressive growth seen in 2015 was largely
due to the increase in Mainland Chinese
arrivals, and Phuket has continued to benefit
from this source market in 2016. New retail
openings such as King Power, Royal Gems
Pavilion, as well as the much anticipated
BluPearl by The Mall Group, in addition to
the expansion of Central Festival Phuket,
will add to Phuket’s demand
generating power.
Mainland Chinese visitors continue to be the
largest source market to Phuket, followed
by Russia, South Korea, and Australia. As at
October 2016, the fastest growing markets to
Phuket y-o-y were Russia (48.5%), Germany
(36.8%), France (30.7%) and South Korea
(30.1%). While Russian tourist arrivals
have yet to reach pre-2014 levels, visitation
has demonstrated ongoing recovery as
the Russian Rouble continues to stabilise.
Anecdotally, there was a noticeable slowdown
in the growth of tourism numbers from
Mainland China towards end-2016 as a result
of the government crackdown on zero-dollar
Chinese tour groups.
SUPPLY
OUTLOOK
JLL estimates that approximately 1,150
rooms entered the market in 2016. The
total number of rooms in Phuket stands at
almost 60,000 as at end-2016. The west
coast (including Patong, Kalim and Kamala)
remains the most popular location for new
developments capturing almost 60% of
future supply between 2017 and 2019.
The completed expansion of Phuket
International Airport increasing capacity
from 7.5 million to 12.5 million passengers
per annum, ongoing road improvements
throughout the island, and plans for
light rail development, will help alleviate
infrastructural bottlenecks in the future.
Already a prominent resort destination, the
government’s focus on high value source
markets to Phuket and a recent crackdown
on zero-dollar tour groups aims to result
in higher spending visitors, supporting
expansion of the island’s hotel and
tourism market.
Phuket
Phuket is Thailand’s largest island and one of the most established resort
destinations in Southeast Asia. Located in the Andaman Sea, the island’s
long history has allowed Phuket to develop a unique cultural charm, while the
addition of shopping and wellness experiences makes it a destination for all.
These attributes complement its natural heritage of sea, sand and worldrenowned diving sites, and have made Phuket a complete tourist destination.
Sino-Portuguese architecture casts its spell delighting visitors, while Phuket’s
unique hospitality and local charm never fails to impress tourists from all
walks of life.
NEW NOTABLE HOTELS
214
rooms
Wyndham Grand
Phuket
NOTABLE
HOTEL DEALS
187
rooms
Lub D Hotel
161
144
Hyatt Place
Phuket Patong
Andakira Crest
Tri Trang Resort
& Spa Pool Villas
rooms
Boathouse by Montara
Mazi Design Hotel by Kalima Phuket
rooms
QUICK FACTS
9.1million
International Visitor
Arrivals (2015)
1,156rooms
Number of New Rooms
2016
76.2%
Occupancy
3,621
THB
Average Daily Rate
(ADR)
THB
2,758
Revenue per Available
Room (RevPAR)
UPCOMING
HOTELS
Rosewood Phuket
Best Western Plus The Beachfront
The SIS Resort
Note: Phuket Hotels refers to Marketwide Hotels.
Source: STR Global (YTD Nov 2016), Department of Tourism Thailand, Ministry of Tourism and Sports Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
Improved destination awareness and
greater year-round marketing has led to a
10.6% y-o-y increase in overnight visitation
to Khao Lak and Phang Nga in 2015 (latest
data available), reaching almost 670,000
international visitors from just over 600,000
the prior year. Appealing to different
source markets continued to provide
greater visitation during the traditional
‘Green Season’ in 2016, increasing annual
occupancy levels.
Khao Lak’s top source markets in 2015
(latest data available) were visitors from
Germany, Mainland China, Sweden, and
Switzerland, making up 29.7%, 8.0%,
7.2% and 6.7% of international visitors to
the destination, respectively. European
countries make up the largest source
markets to Khao Lak, however, the fastest
growing source market was Mainland China.
Recording an impressive growth rate of
122.9% y-o-y to reach over 53,000 visitors
in 2015, this source market is helping to
drive visitation to the destination throughout
the year.
Hotel openings in Khao Lak have been
limited in 2016, with only a few key notable
openings totalling 264 rooms. However,
a significant increase in new openings is
expected over the next two years, with a
pipeline of nearly 1,000 rooms concentrated
in the upscale segment.
Khao Lak’s tourism market is driven by
a strong growth in tourism arrivals. This
strong demand has translated to occupancy
improvements as traditional European
markets shift from Phuket alongside
increasing arrivals from Australia, Mainland
China, and other East Asian countries.
Further growth in tourist arrivals can be
expected with the expansion of nearby
Phuket International Airport, as well as a
surge in chartered flights to both Phuket and
Krabi airports. There have also been news
of interest in the addition of a new airport in
Phang Nga, propelling tourism prospects
if materialised.
Khao Lak
Khao Lak is set along a stretch of Phang Nga’s coastline overlooking
the Andaman Sea, only one and a half hour’s scenic drive from Phuket
International Airport. The serene beaches emerge from the lush tropical
mountainside, making it an ideal destination for those seeking a tropical
beach getaway. Secluded, pristine, and private, Khao Lak is popular as both
a family and couple’s destination, with hotels and resorts catering to both
markets. In addition to its seashore, Khao Lak is home to various tropical
waterfalls and national parks, and acts as stop over for the famous Similan
Islands National Park.
NOTABLE
HOTEL DEALS
There were no hotel transactions in 2016.
NEW NOTABLE HOTELS
Additional
106
rooms
Mai Khaolak Beach
Resort & Spa
UPCOMING
HOTELS
Bangsak Merlin Resort
La Vela
100
rooms
X10 Khaolak Resort
(Soft Opening)
QUICK FACTS
668,187 264rooms 65.0%*
International Visitor
Arrivals (2015)
Number of New Rooms
2016
AVANI Khao Lak
Source: Department of Tourism Thailand, JLL
* Based on JLL estimates as at Dec 2016
Occupancy
THB
3,500*
Average Daily Rate
(ADR)
THB
2,275*
Revenue per Available Room
(RevPAR)
7
8
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
In 2015, the island saw over one million
visitor arrivals. As at YTD April 2016 (latest
data available), the growth in key source
markets has led to a 10.4% increase in
visitor arrivals to Koh Samui compared
to the same period last year, reaching
approximately 395,000 visitor arrivals. This
growth in visitor arrivals (both international
and domestic) to Samui International Airport
was in part due to the increase in the daily
flight ceiling from 36 to 50 flights daily, which
was announced in December 2014.
Germany remains the top source market to
Koh Samui in 2015 (latest data available),
followed by the Eastern European countries
and Australia at 13.3%, 10.1%, and 9.1% of
total international overnight visitors to Koh
Samui, respectively. The fastest growing
source market was Mainland China with a
growth rate of 44.7% y-o-y, reaching almost
130,000 visitors in 2015. Mainland China
makes up the largest number of visitors
arriving through immigration at Samui
International Airport, making Koh Samui
their first port of arrival in Thailand.
Hotel openings in Koh Samui have been
limited in 2016 with only 131 keys added to
the market. However, a significant increase
in new openings is expected over the
next three years, with a pipeline of nearly
900 rooms concentrated in the luxury and
upscale segments.
While Germany and the Eastern European
countries remain top source markets to Koh
Samui, the island has seen growth shifting
towards the Asian countries. This is likely
to continue as Bangkok Airways launches
new routes regionally, especially between
Koh Samui and China, namely Chongqing
and Guangzhou. With over 50 flights daily to
Surat Thani International Airport, and ferries
running hourly during the day from the
mainland to Koh Samui, low cost airlines’
all-in-one travel plans {air travel, bus, and
ferry} to Koh Samui are expected to push
regional arrivals up further.
Koh Samui
Koh Samui is the second largest island in Thailand, located a short 70-minute
flight from Bangkok. The destination has the reputation as the most pristine
island amongst its archipelago in the Gulf of Thailand, with highly acclaimed
white sandy beaches, lush tropical gardens and turquoise waters. Populated
with renowned resorts and branded villas, Koh Samui is considered one
of Asia’s leading luxury resort islands and one of Thailand’s most popular
honeymoon locations.
NEW NOTABLE HOTELS
37
rooms
The Privilege Hotel
Ezra Beach Club
NOTABLE
HOTEL DEALS
Elements Boutique Resort & Spa Hideaway
Koh Samui
Additional
29
rooms
FuramaXclusive Farmers
Boutique (Formerly
Farmer’s Boutique Resort)
QUICK FACTS
395,299 131rooms 77.5%
Visitor Arrivals*
(YTD April 2016)
Number of New Rooms
2016
Occupancy
Note: Koh Samui Hotels refers to Marketwide Hotels.
* Visitor arrivals include both international and domestic.
Source: STR Global (YTD Nov 2016), Department of Civil Aviation Thailand, JLL
ADR – Average daily rate, RevPAR – Revenue per available room
THB
10,621
Average Daily Rate
(ADR)
THB
8,232
Revenue per Available
Room (RevPAR)
UPCOMING
HOTELS
Ritz-Carlton Koh Samui
COSI Samui Chaweng
SALA Samui Chaweng
(Formerly Muang Kulaypan Hotel)
ibis Styles Samui Chaweng Beach
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
In 2015 (latest data available) Krabi
welcomed 1.9 million international overnight
visitors, a y-o-y growth of approximately
5% from 1.8 million international visitors in
2014. This trend of growth has continued
through 2016, benefiting from the increase
in arrivals largely driven by the growth of the
Mainland China source market, as well as
benefiting from well-travelled tourists who
are increasingly looking for new destinations
to explore.
Mainland China replaced Sweden as the
largest source market to Krabi, and 2015
saw overnight visitors from Mainland China
increasing 43.1% y-o-y to over 310,000
visitors. Malaysia followed as the second
largest source market to Krabi, accounting
for almost 10% of international tourist
arrivals, registering y-o-y growth of 16.7%.
Other key source markets include the UK,
Germany and France, making up 9.0%,
7.9% and 6.1% of international visitors,
respectively.
OUTLOOK
Krabi’s hotel market outlook is positive
as visitor arrivals are expected to grow
further with increasing direct flights to
the coastal town. The capacity of Krabi
International Airport is to be expanded
further with an ongoing study for expansion
to accommodate five million passengers
per year. Sea transportation is also being
upgraded with a new marina, Port Takola.
2016 saw the addition of 604 rooms to the
Krabi market. However, supply additions
over the next two years are expected to
be more muted with 818 rooms expected
from 2017 through to 2018, with a 47.4%
concentration of future rooms in the
upscale segment, followed by the luxury
segment (30.4%). The majority of supply is
concentrated in the Ao Nang Area.
Krabi
Krabi is an emerging international tourist resort destination, located in
southern Thailand, and supported by its own international airport and an
upcoming marina. The mainland destination benefits from its white sandy
coastline, stretching approximately 160 km along the Andaman Sea. Krabi
is famous for its breathtaking islands including Koh Phi Phi, Koh Lanta and
Koh Hong, all accessible via long-tail or speed boat. Renowned beaches in
the resort town include Tub Kaek Beach, Ao Nang Beach and Klong Muang
Beach.
NOTABLE
HOTEL DEALS
There were no hotel transactions in 2016.
NEW NOTABLE HOTELS
218
rooms
Holiday Inn
Express Krabi Ao
Nang Beach
UPCOMING
HOTELS
The Shellsea
Pimalai Resort & Spa
158
rooms
Centra by Centara
Phu Pano Resort
76
rooms
Best Western Hula Hula
Ao Nang
(Formerly Hula Hula Resort & Spa)
QUICK FACTS
1.9million
International Visitor
Arrivals (2015)
604rooms 71.6%
Number of New Rooms
2016
Occupancy
THB
5,896
Average Daily Rate
(ADR)
Banyan Tree Hotel
Ava Sea Resort
Note: Krabi Hotels refers to Upscale and Luxury Hotels.
Source: STR Global (YTD Jun 2016), Department of Tourism Thailand, Ministry of Tourism and Sports Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
THB
4,219
Revenue per Available
Room (RevPAR)
9
10
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
In 2015, Pattaya welcomed more than
6.7 million international overnight visitors
(latest data available), recording a 7.4%
y-o-y growth. Pattaya’s tourism market
experienced a downturn in 2014, due to
political instability and depreciation of the
Russian Rouble towards year-end. While
international visitors rebounded in 2015,
this was driven by the influx of Mainland
Chinese visitors which saw 70.0% growth
y-o-y. Despite the decline in Russian
visitation in 2015, the number of Russian
visitors to Thailand has picked up at end2016.
Pattaya’s proximity to Bangkok makes it
a popular weekend destination amongst
Thais, with domestic visitors making up
almost a third of overnight visitors to
Pattaya. In 2015, Mainland China overtook
Russia as the city’s top source market,
comprising 28.7% of total overnight visitors
to Pattaya. Russia and South Korea were
the second and third largest source markets,
at 8.8% and 7.1% of international visitors,
respectively. This is supported by direct
flights from China to U-Tapao RayongPattaya International Airport, namely
Nanning and Nanchang.
Pattaya saw significant supply addition in
2016 with over 1,700 rooms added to the
market. This will continue in 2017 as over
4,000 keys are expected to be added to
the Pattaya market, should all projects
materialise. However, this includes over
3,000 rental pool units with guaranteed
returns from developers. A large portion of
future supply is concentrated in Jomtien
(33.4%), followed by Na Jomtien (28.4%).
Hotels in the midscale category account
for over 60% of the total future supply.
International hotel brands continue to
dominate Pattaya’s hotel market.
While the Russian market to Pattaya has
yet to rebound to pre-2014 levels, other
source markets such as Mainland China
have remained strong with further growth
expected. The addition of new attractions,
including the renovated CentralPlaza
Marina, upcoming Terminal 21 Pattaya and
the Ramayana Water Park, are expected to
attract more visitors. The outlook remains
positive with future infrastructure projects
including the expansion of U-Tapao to an
international commercial airport supporting
three million passengers per year.
Pattaya
Pattaya, a former fishing village on the Gulf of Thailand, has evolved to
become one of Thailand’s primary tourist destinations, known for its pulsating
nightlife, various beach activities and world-famous cabaret shows. Now also
host to family attractions including museums, seaside malls and a waterpark,
the destination has become popular as a holiday destination for Thais, local
expats and tourists alike. Pattaya is easily accessible by car, a 90-minute
drive from Bangkok’s Suvarnabhumi International Airport, and a 30-minute
drive from U-Tapao Rayong-Pattaya International Airport.
NEW NOTABLE HOTELS
282
rooms
Centra Maris Resort
Jomtien
NOTABLE
HOTEL DEALS
260
rooms
Mövenpick Siam
Hotel Pattaya
Sigma Resort Jomtien Pattaya
130
rooms
Amari Residences
Pattaya
QUICK FACTS
6.7million
International Visitor
Arrivals (2015)
1,706 rooms 78.3%
Number of New Rooms
2016
Occupancy
THB
3,781
Average Daily Rate
(ADR)
2,961
THB
Revenue per Available
Room (RevPAR)
UPCOMING
HOTELS
Citadines North Pattaya
Citadines Jomtien Beach Pattaya
Best Western Plus AD Wongamat Pattaya
Note: Pattaya Hotels refers to Upscale and Luxury Hotels.
Source: STR Global (YTD Jun 2016), Department of Tourism Thailand, Ministry of Tourism and Sports Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
Holiday Inn Express Pattaya Central
Eastin Easy Jomtien Pattaya
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
Hua Hin and Cha Am welcomed 6.2 million
visitors in total during 2015. Its tourism
market attracts a high portion of domestic
visitors, seeing almost five million domestic
overnight arrivals in 2015, accounting for
approximately 80% of its market. While
Hua Hin continues to attract Thai visitors,
generating a CAGR of 12.7% from 20102015, the seaside getaway has also been
charming international travellers, seeing a
CAGR of 14.3% over the same period, albeit
from a lower base.
International visitors from the UK, Germany,
and Denmark continually feature as key
source markets, making up 12.1%, 10.9%,
and 8.7% of international visitors in 2015,
respectively. Despite Mainland China not
being in the top five source markets,
it saw the highest growth in visitor arrivals,
registering a growth of 24.6% y-o-y in 2015.
This trend is expected to continue in
the future.
The Hua Hin and Cha Am market saw
477 rooms added in 2016, and 2017 is
expected to bring to market a much larger
supply addition of 1,361 rooms if all projects
materialise. While 2016 saw the addition of
luxury and upscale properties, the majority
of future supply is concentrated in the
midscale segment (63.2%), followed by the
upscale segment (36.8%).
The outlook for Hua Hin remains positive,
despite being affected by the bombing
in August 2016, the effect has proven to
be short-lived. In terms of visitor arrivals
growth, Hua Hin is expected to remain
popular with the domestic and its European
source markets. Hua Hin has been seeing
growth in arrivals from Asian countries in
addition to Mainland China, namely, Japan,
South Korea and Hong Kong, attracted by
its many famous golf courses. To improve
accessibility, the Thai government recently
launched a trial run of ferry crossings across
the Gulf of Thailand between Hua Hin
and Pattaya.
Hua Hin
Hua Hin is one of Thailand’s original holiday destinations, favoured by King
Rama VII as the ideal summer getaway from Bangkok since the early 1920s.
Located 200 km, or two and a half hours’ drive from Bangkok, its upmarket
and family friendly hotels and resorts along a 6 km stretch of beach, make
Hua Hin one of the most popular getaway destinations from Bangkok.
Amongst its attractions are six world class golf courses which draw both Thai
and international visitors to the area. The Hua Hin market stretches beyond its
geographical area to also include Cha Am, a beach area within half an hour’s
drive from Hua Hin city centre.
NOTABLE
HOTEL DEALS
There were no hotel transactions in 2016.
NEW NOTABLE HOTELS
118
rooms
Radisson Blu Resort Hua Hin
UPCOMING
HOTELS
Best Western Plus AD Hua Hin Lake &
Resort
Ananda Hua Hin Resort & Spa by Compass
Hospitality
Additional
103
rooms
Hua Hin Marriott Resort &
Spa (Renovated)
QUICK FACTS
6.2 million
Visitor Arrivals* (2015)
477rooms
Number of New Rooms
2016
70.6%
Occupancy
Note: Hua Hin Hotels refers to Upscale and Luxury Hotels in the Hua Hin and Cha Am area.
*Visitor arrivals include both international and domestic.
Source: STR Global (YTD Jun 2016), Department of Tourism Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
THB
4,657
Average Daily Rate
(ADR)
THB
3,288
Revenue per Available
Room (RevPAR)
11
12
Hotel Destinations Thailand
TOURISM
DEMAND
SUPPLY
OUTLOOK
Since 2010, Chiang Mai has continuously
registered impressive growth in international
visitor arrivals with a five-year CAGR of
11.8% from 2010-2015. In 2014, while other
destinations in Thailand suffered from the
political unrest, Chiang Mai registered an
11.3% growth in international visitor arrivals
y-o-y as tourists shifted away from Bangkok.
In 2015 (latest data available) Chiang Mai
welcomed almost 2.6 million international
visitors, registering a y-o-y growth of over
9%. This trend has continued in 2016 as
Chiang Mai benefited from the increase
in arrivals strongly driven by the growth of
Mainland China as a key source market.
In 2015, Chiang Mai’s top source market
was Mainland China, with over 560,000
visitors, accounting for over 20% of overall
international visitors and achieved an
impressive growth of over 34.8% y-o-y. The
other top source markets include Japan
(8.0%), United States (6.5%), France
(6.2%), UK (6.1%), Australia (5.5%) and
Germany (5.0%).
Small and medium unbranded, independent,
and boutique hotels dominate the city’s
existing hotel supply. Supply remained fairly
stable in 2016 with only 164 notable key
additions. Future supply will be concentrated
in Nimmanhemin (40.9%), and primarily
positioned in the upscale segment (83.3%).
Scheduled hotel openings in 2017 include
the 147-key U Nimman Chiang Mai, the full
opening of the 120-key Portofino Resort and
Spa Chiang Mai (78 keys opened in 2016
with 44 keys expected in 2017), and the 30key X2 Chiang Mai Riverside Hotel.
Recognised by Travel+Leisure as the best
city to visit in Asia, outlook for Chiang Mai is
positive, with the robust growth of the recent
years expected to be maintained in light
of continuing demand. Over the long-term
Chiang Mai, known as a health and wellness
destination, will benefit from this growing
global trend. Chiang Mai and neighbouring
Chiang Rai’s Golden Triangle area are
recognised as a single tourism market. With
Chiang Rai’s emergence as a destination,
the area will benefit from further tourism
development.
Chiang Mai
Chiang Mai, or ‘New City’ in Thai, was founded in 1296 as the capital of the
ancient Lanna Kingdom and was the largest and most culturally significant
city in Northern Thailand. Today, Chiang Mai is the education, economic, and
business hub of northern Thailand. It is known for its spectacular mountaintop scenic views, rich culture, and a magnitude of cafés, restaurants and
bars. Chiang Mai charms visitors with its relaxed way of life, the hospitality
of the hill tribes, and the nearby adventure activities such as trekking and
rafting. Located on a plain at an elevation of 316 meters, and surrounded by
mountains and lush countryside, it has a cosmopolitan air and a significant
expat population, factors which have led many from Bangkok to settle
permanently in this ‘Rose of the North’.
NOTABLE
HOTEL DEALS
Rimkok Resort Hotel Chiang Rai
NEW NOTABLE HOTELS
78
rooms
Portofino Resort &
Spa Chiang Mai
(Soft Opening)
UPCOMING
HOTELS
U Nimman
X2 Chiang Mai Riverside Hotel
44
rooms
Anantara Vacation
Club
42
rooms
North Hill City
Resort
QUICK FACTS
2.6 million
International Visitor
Arrivals (2015)
164 rooms 75.0%
Number of New Rooms
2016
Occupancy
THB
4,979
Average Daily Rate
(ADR)
Note: Chiang Mai Hotels refers to Upscale and Luxury Hotels.
Source: STR Global (YTD June 2016), Department of Tourism Thailand, Ministry of Tourism and Sports Thailand, JLL
ADR - Average daily rate, RevPAR - Revenue per available room
THB
3,736
Revenue per Available
Room (RevPAR)
CONTRIBUTORS
Scott Hetherington
Mike Batchelor
Chakkrit Paul Chakrabandhu Na Ayudhya
Karan Khanijou
Jonathan Ottevaere
Frank Sorgiovanni
Chief Executive Officer
Asia
[email protected]
Senior Vice President
Investment Sales, Asia
[email protected]
Senior Vice President
Strategic Advisory, Thailand
[email protected]
Managing Director
Investment Sales, Asia
[email protected]
Senior Vice President
Investment Sales, Asia
[email protected]
Head of Research
Asia Pacific
[email protected]
Nutchayuda Tephabutr
Senior Analyst
Strategic Advisory, Thailand
[email protected]
Front cover
Phi Phi Island in Krabi, Thailand
About JLL Hotels & Hospitality Group
JLL’s Hotels & Hospitality Group has completed more transactions than any other hotels and hospitality real estate advisor over the last five years, totalling more than $68 billion worldwide.
Between negotiating the world’s most extraordinary, enticing, and profitable property deals, the group’s 350-strong global team also closed more than 4,400 advisory, valuation and asset
management assignments. Investors worldwide turn to JLL to shape their strategies, tailor their portfolios and maximise the value of their assets. We are recognised as the global leader
in real estate services across hospitality properties of all shapes and sizes. Our expert advice is backed by industry-leading research. We apply our broad spectrum of hotel valuation,
brokerage, asset management and consultancy services through every phase of the hotel lifecycle. We have helped more hotel investors, owners and operators achieve high returns on their
assets than any other real estate advisor in the world. Whether you are looking for a hotel or you’re ready to sell, we’ll use our capital markets expertise, hospitality industry knowledge and
global relationships to put the right parties together and execute a bespoke deal that exceeds your objectives.
To find out more, talk to JLL.
www.jll.com/hospitality
14
Hotel Destinations Thailand
Q U I C K FA C T S C O M PA R I S O N
B A N GKOK
P HU K ET
K HA O L A K
K O H S AM U I
K RA BI
1
2
International Visitor
Arrivals
Number of New
Rooms
17.3 million
1,952 rooms
9.1 million
1,156 rooms
668,187
264 rooms
395,2991
131 rooms
1.9 million
604 rooms
(YTD October 2016)
(2015)
(2015) (Phang Nga)
(YTD April 2016)
(2015)
PAT TAYA
6.7 million
1,706 rooms
HUA HIN
6.2 million1
477 rooms
C H I A N G M AI
2.6 million
164 rooms
(2015)
(2015)
Visitor arrivals include both international and domestic.
Based on JLL estimates as at December 2016
(2015)
Occupancy
72.9%
(YTD November 2016)
76.2%
Average Daily Rate
(ADR)
THB 5,954
(YTD November 2016)
THB 3,621
Revenue per
Available Room
(RevPAR)
THB 4,341
(YTD November 2016)
THB 2,758
(YTD November 2016)
(YTD November 2016)
(YTD November 2016)
65.0%2
THB 3,5002
THB 2,2752
77.5%
(YTD November 2016)
71.6%
(YTD June 2016)
78.3%
(YTD June 2016)
70.6%
(YTD June 2016)
75.0%
(YTD June 2016)
THB 10,621
THB 8,232
(YTD November 2016)
(YTD November 2016)
THB 5,896
THB 4,219
(YTD June 2016)
THB 3,781
(YTD June 2016)
THB 4,657
(YTD June 2016)
THB 4,979
(YTD June 2016)
(YTD June 2016)
THB 2,961
(YTD June 2016)
THB 3,288
(YTD June 2016)
THB 3,736
(YTD June 2016)
JLL Hotels & Hospitality Group offices
Atlanta
Tel +1 404 995 2100
Dublin
Tel +353 1 673 1600
Los Angeles
Tel +1 213 239 6000
New York
Tel +1 212 812 5700
Auckland
Tel +64 9 366 1666
Düsseldorf
Tel +49 211 13006 780
Lyon
Tel +33 4 7889 2626
Paris
Tel +33 1 4055 1718
Bangkok
Tel +662 624 6400
Edinburgh
Madrid
Tel +34 91 789 1100
Rome
Tel +39 06 4200 6771
Barcelona
Tel +34 93 318 5353
Exeter
Tel +44 1392 423696
Manchester
Tel +44 161 828 6440
San Francisco
Tel +1 415 395 4900
Marseille
Tel +33 4 9509 1313
Santiago
Tel +56 2 2374 0070
Melbourne
Tel +61 3 9672 6666
São Paulo
Tel +55 11 3071 0747
Mexico City
Tel +52 55 5980 8003
Shanghai
Tel +86 21 6393 3333
Miami
Tel +1 305 529 6345
Singapore
Tel +65 6536 0606
Milan
Tel +39 02 85 86 86 70
Sydney
Tel +61 2 9220 8777
Moscow
Tel +7 495 737 8000
Tampa
Tel +1 813 229 3991
Munich
Tel +49 89 2900 88 182
Toronto
Tel +1 416 304 6000
New Delhi
Tel +91 124 460 5000
Tokyo
Tel +81 3 5501 9240
Beijing
Tel +86 10 5922 1356
Bethesda
Tel +1 301 214 1144
Brisbane
Tel +61 7 3231 1400
Buenos Aires
Tel +54 11 4893 2600
Charlotte
Tel +1 704 943 2300
Chicago
Tel +1 312 782 5800
Dallas
Tel +1 214 438 6100
Denver
Tel +1 303 260 6500
Dubai
Tel +971 4 426 6999
Tel +44 131 301 6723
Frankfurt
Tel +49 69 2003 0
Glasgow
Tel +44 141 248 6040
Hong Kong
Tel +852 2846 5000
Istanbul
Tel +90 212 350 0800
Johannesburg
Tel +27 11 507 2200
Leeds
Tel +44 113 244 6440
Lisbon
Tel +351 21 358 3222
London
Tel +44 20 7493 6040
www.jll.com/hospitality
Jones Lang LaSalle Property Consultants Pte Ltd | CEA Licence No. L3007326E
© 2017 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.