While a great deal of uncertainty exists about the eventual spread of COVID-19, experience to date in China, other Asian countries and now Europe indicates that a global pandemic is underway. Interruptions of supply chains could exacerbate a global economic slowing down.
The strengthening of the Thai Baht and the ongoing US-China trade war have resulted in a decline in average rate growth and softer demand level in 2019. Furthermore, the extensive hotel supply growth in Bangkok has been the dominant topic for discussion. While a multitude of factors will impact the market performance in 2020, including the recent Coronavirus outbreak, it is evident that the 4,000 new hotel rooms scheduled set to open this year will put Bangkok’s hotel market under pressure.
February 25, 2020
ByPawinee Chaisiriroj ,Ruj Masan ,Daniel J Voellm