LONDON – Bangkok’s hotel industry reported the second-highest monthly average daily rate (ADR) on record in the market, according to preliminary January 2023 data from STR.
- Occupancy: 67.5%
- Average daily rate (ADR): THB 4,338.82
- Revenue per available room (RevPAR): THB 2,930.15
December 2022 was the only other month with ADR above THB 4,000 in Bangkok. The market’s January ADR level was 21.5% above the pre-pandemic comparable from 2019, while occupancy and RevPAR remained below the 2019 comparables by 19.7% and 2.4%, respectively.
When looking at daily data, Bangkok’s highest occupancy levels were seen on Thursday, 26 January (77.1%) and Friday, 27 January (78.6%), helped by extended Chinese New Year celebrations and initial demand from international Chinese visitors following the country’s reopening. Overall, the market’s daily occupancy levels remained above the 60% mark throughout the month.
All of STR’s industry analysis can be found here.
About STR
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), a leading provider of online real estate marketplaces, information and analytics in the commercial and residential property markets. For more information, please visit str.com and costargroup.com.
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