Thailand’s RevPAR grew 15.4% in 2012 to THB2,232 (US$75), according to STR Global. The returning demand levels (13.3%) helped boost occupancy 10% to 69.2% and grew ADR 4.9% to THB3,226 (US$108).
Thailand has been undergoing a strong recovery from recent political turbulences and severe flooding as Bangkok, Phuket, Koh Samui, Pattaya and Chiang Mai illustrated growth in all three performance metrics.
Koh Samui achieved the highest ADR (THB6,910; US$231) out of all Thai markets, due to a concentration of luxury hotels. Substantial occupancy growth (27.1%) helped fuel a RevPAR increase of 29.4% to THB4,224 (US$141). This was accelerated by exceptional demand growth (31.3%), while supply saw a comparatively moderate increase (3.3%).
Although Hua Hin/Cha-Am was the only market to experience a decline in ADR (-2.2%), its RevPAR was sustained (+5%) by an increase in occupancy (7.3%).
Supply increases were most prominent in the country’s capital of Bangkok (4.3%), where 2,993 rooms were opened in 2012. However, the capital still achieved the second highest demand increase (15.6%) behind Koh Samui (31.3%), followed by Chiang Mai (14.3%), Hua Hin/Cha-Am (11.5%), Pattaya (9.8%) and Phuket (4.4%).
After Koh Samui, Chiang Mai exhibited the strongest RevPAR growth (19.3% to THB1,721; US$58) and occupancy growth (13.4%).