wored: Phuket Airport Hotel

Hotel occupancy levels in South Thailand have seen a 70% rise in the first quarter of 2011, compared to 2007, which was before the political crisis from 2008 to 2009. Phuket’s occupancy rate is projected to hit 80% by the end of the year while other regions of Thailand are seeing 40-60% occupancy rates.

This is great news for investors such as Castlewood Group, as up until early 2010 hotel investment was frozen and it was only when recovery was visible in the majority of Asia-Pacific that investment was allowed to continue. However the first half of 2010 saw a slow start with things only really picking up in the second half of the year.

During the Songkran holidays of 2011 hotel occupancy rates were averaging around 70 percent across Phuket with an estimated Bt800 million (US$26 million) being generated in revenue during the course of the week. Some great activities were enjoyed by 8,000 tourists during the festivities including ‘Phuket Bike Week’, ‘Songkran on the Beach’ and in Old Phuket Town, the ‘Ice Songkran Festival’. The beach resorts fared even better with some occupancy rates in the 90 percent region.