2017 was another banner year for tourism in Thailand. One of the world’s most visited countries, Thailand welcomed a record breaking thirty-five million visitors. With no disruptive events anticipated for 2018, hoteliers in Thailand are expecting a relatively smoother year.
Yet, fierce competition from the additional supply, ever-changing distribution landscape, and challenging talent recruitments continue to plague the industry. The growth in relative room rates is expected to be constrained by the incoming new supply.
Competition amongst various distribution channels has also intensified; requiring increased efforts for hoteliers to maintain rate parity. On the F&B front, the first Michelin Guide in Thailand has been published, making its mark on the fiercely competitive restaurant and bar scene.
Together with the increasing distribution costs and labour costs, hoteliers will have to innovate in revenue creation and improve operational efficiency in order to drive profitability.
Hotel Management Thailand Summit (HMT), a neutral one-stop strategy platform, will return to Bangkok on 7 June this year to directly address all key management, operational, commercial and financial challenges that impact corporate and property P&L.