Thailand Hotel Investment to Grow This Year, Says JLL
STR reported China hotel data for the week ended May 3rd. Hotel RevPAR in China was down 2.7%, up against a tough 8% increase comp in the year-ago week. Occupancy was positive, up 3.2% year over year, as this includes the start of the May Day Labour Holiday Golden Week. The decline in RevPAR was all due to the 5.7% drop in average daily rates.
JLL's latest Thailand Hospitality Financing Guide said Thailand's hotel investment market is projected to maintain its growth trajectory in 2025. This follows a record-breaking year in 2024. JLL said the sector's resilience and strong investor interest are expected to continue driving activity across various segments. Hotel transaction volumes reached THB 22.3 billion in 2024, with investors showing interest in both freehold and leasehold properties. JLL is forecasting that hotel transaction volumes in 2025 will reach approximately THB 13 billion, maintaining levels above the historical average. The momentum is supported by anticipated growth in international tourist arrivals, projected between 38 and 40 million for the year, bolstered by improved air connectivity and strategic visa policies.
Dida said international hotel bookings by Chinese travelers for the May Day holiday more than doubled year-on-year, with a 103% increase in booking volume compared to 2024. The average daily rate for Chinese international hotel bookings is also up 5% year-on-year, approaching pre-pandemic levels, as Dida said, travelers are increasingly opting for premium stays. The top 10 most booked international destinations for Chinese travelers during the May Day holiday were Japan, South Korea, Malaysia, Thailand, Hong Kong SAR, Singapore, Italy, Indonesia, Vietnam, and the UAE, in that order. Domestic travel within China increased by 33% year-on-year, while inbound tourism by international visitors more than tripled, up by 306%.
Minor Hotels announced an evolution of Oaks Hotels, Resorts & Suites, announcing a shift from serviced apartments to a full-service hotel, resort, and suites brand. Minor said a reinvigorated service focus, introduction of unique operating hallmarks, and refreshed brand identity will create global resonance and distinction in a competitive market. Oaks Hotels, Resorts & Suites has an expanding portfolio of more than 55 properties in Australia, China, New Zealand, Qatar, and the UAE. The series of brand hallmarks will include a refreshed food and beverage offering with a focus on 'family-style' communal dining and a signature, gourmet lamington bespoke to each location. They will improve in-room touches while wellness will remain central with yoga and meditation classes accessible via in-room TVs. The new Oaks brand and service applications will be gradually rolled out across existing properties and new acquisitions.
Asset World Corp Public Company Limited signed a hotel management agreement with Marriott International to launch JW Marriott Hotel Bangkok Ratchadapisek, the city's first and largest recreation-led leisure and MICE destination. The hotel will be located within the Jubilee Prestige Tower, with the resort expected to anchor Bangkok's largest pool and elevate Thailand's global appeal as a premier hub for leisure, wellness, and business travel. The tower will include the 386-room JW Marriott, a premium lifestyle office with a co-living model, and over 10,000 square meters of event space. AWC's acquisition of Le Concorde Tower, which will be rebranded as Jubilee Prestige Tower, is part of its strategic expansion. The Tower will complement the JW Marriott with a Beauty Hub for wellness stays, an Urban Wellness Sanctuary in partnership with health and mindfulness experts, and premium F&B experiences such as a rooftop restaurant, an all-day dining restaurant, an authentic Japanese restaurant, an elegant Chinese restaurant, and a cigar & whiskey bar.
Wanda Hotels & Resorts officially opened Wanda Vista Resort Khum Wang Nuea Chiang Mai, the brand's third international project under the Wanda Vista label. The resort is located in San Kamphaeng district, Chiang Mai, and reflects architectural and cultural influences from Thailand's Lanna Dynasty. The resort comprises 29 guest accommodations, including rooms, suites, and villas, with the overall design drawing from the concept of a secluded retreat. The property includes a Thai-fusion restaurant, a poolside bar, fitness facilities, and a spa. The location is adjacent to a golf course, close to local attractions such as hot springs and artisanal villages. Wanda said they are preparing several other international projects in regions including Southeast Asia, Japan, and Southern Europe.
Moxy Kuala Lumpur Chinatown has opened in the restored Oriental Bank building on Jalan Hang Lekiu, marking the brand's debut in the Malaysian city. The 21-story hotel offers 320 guestrooms, a social area for check-in and networking, a breakfast spot, and Bar Moxy, a rooftop space for cocktails.
Accor's Pullman brand will land in the complex of Eastfall, a complex in Guui Station, Gwangjin-gu, Seoul. It is the first entry in eastern Seoul, South Korea, when it opens in July. Pullman Ambassador Seoul Eastfall will be a five-star hotel with a total of 150 rooms, including guestrooms and serviced residences. Amenities will include dining space, a wedding banquet hall, a meeting room, a wellness space, and a swimming pool with a view of the Han River.
New Zealand's largest hotel portfolio spanning the tourism capitals of the South Island and Auckland has hit the market with price expectations of more than US$555 million. The NZ Hotel Holdings portfolio has seven large hotels, including the Sofitel Queenstown and Spa, Auckland hotels Four Points by Sheraton, QT Auckland, and Adina Apartment Hotel, Britomart. In Rotorua, the portfolio includes the Rydges Hotel, a BreakFree on Cashel Hotel in Christchurch, and another Rydges property in Wellington. The NZ Hotel Holdings portfolio was assembled in 2019 and is controlled by the NZ Super Fund, Russell Property Group, and the Lockwood Property Group. It was formed to develop New Zealand hotel assets to support domestic and international tourism in the land of the long white cloud. This is considered opportunistic as it follows the record-setting sale of the InterContinental Auckland Hotel for NZ$180 million to Singaporeans in March. CBRE is managing the portfolio sale via an expressions of interest campaign closing June 26.
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But he adds: 'The merging parties have little time to celebrate. Now, the hard work really begins as they set about implementing the many connectivity improvements they've long promised. 'For many UK mobile users that have struggled for too long with poor signal, the upgrades can't come soon enough.' Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
