The Siam Commercial Bank Economic Research Centre (SCB EIC) predicts that Thailand’s hotel sector will experience significant growth in 2025. This is due to an expected increase in the number of both domestic and international tourists.
The average hotel occupancy rate is expected to rise to around 72% in 2024. Average room rates are expected to increase by 8% compared to 2019 levels. This will be driven by the fact that 36.2 million international tourists and 270.2 million domestic travellers are expected to arrive in 2024.
In 2025, experts predict that the average national hotel occupancy rate will rise to 74%, with room rates increasing by another 5% compared to the previous year.
However, the industry faces growing challenges, especially increased competition. New room offerings are gradually appearing, especially in key tourist destinations such as Phuket, Surat Thani and Phang Nga in the south, as well as in secondary cities such as Nan, Chiang Rai and Chanthaburi, which are gaining popularity among domestic tourists.