Bangkok hotels occupancy climbs in Q4 - CBRE
Contributors are not employed, compensated or governed by TD, opinions and statements are from the contributor directly
Luxury hotel occupancy in Bangkok averaged 57% in the fourth quarter of 2009, according to the latest MarketView report from CB Richard Ellis (CBRE). Occupancy levels for luxury and first class hotels in the Thai capital rose from 55% in Q4 2008, and 45% in the previous quarter. However the rise in occupancy was largely at the expense of average daily rates (ADR), which declined 12.5% from THB5,322 (US$164) in Q3 to THB4,658 in Q4. As a result, revenue per available room (revPAR) climbed to THB2,677 in Q4, up 13.2% from THB2,365 in the previous quarter.
Comments are closed.