Foreign Investment Soars in Thailand's Hotel Industry Amid Tourism Rebound
Thailand's tourism revival sparks significant foreign interest in hotel sector investments.
Thailand's hotel sector has witnessed a surge in foreign investment, driven by the rebound of its tourism industry.
Colliers International Thailand reports that 12 hotel transactions, totaling 16 billion baht, have been completed this year in key tourist hotspots such as Phuket, Bangkok, Chiang Mai, and Koh Samui.
According to Pattarachai Taweewong, director of research and communications at Colliers Thailand, the total turnover for the year is projected to reach 18 billion baht, marking a five-year high.
The investment boom is a direct result of Thailand's tourism resurgence, with over 26.08 million foreign tourists arriving in the first three quarters of 2024, a 30.08% increase from the previous year.
Major tourist sources include China, Malaysia, India, South Korea, and the United States.
Both domestic and international investors, particularly large operators, are actively seeking well-priced hotels for renovation and rebranding in prime locations like Bangkok, Phuket, Samui, Pattaya, and Chiang Mai.