Thailand

Accor expects revenue to rebound this year


An aerial view of The Legend Beach Resort in Phuket, which will be renamed Pullman Phuket Arcadia Karon Beach.

Accor, which has secured 21 properties for its five-year plan in Thailand, expects revenue per available room (RevPar) at most of its hotels this year to exceed 2019 levels, driven largely by an estimated 25 million foreign tourists.

Ianic Menard, Accor’s vice-president of operations for Thailand, Laos, Cambodia and Myanmar, said Thailand was reopening faster than rivals because tourists craved the country’s hospitality and destination.

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Mr Menard said Accor will continue to cater to the domestic market.

Some hotels in cities such as Phuket and Bangkok have seen their RevPar exceed 2019 levels due to the rapid recovery of flight capacity, Mr Menard said.

Average home prices in prime locations such as Phuket’s beachfront and Siam Square and Bangkok’s Sukhumvit Road have rebounded faster than other areas, he said.

The average occupancy rate for Accor’s beachfront resorts in Phuket will be around 70% in 2022, while hotels in prime Bangkok locations will exceed 50%.

Occupancy rates last year were below 2019 levels, with Phuket 20 percentage points lower and Bangkok 25 percentage points lower, Mr Menard said.

Hotels in other tourist destinations will have to wait for RevPar and occupancy rates to improve, he said.

Two examples are Krabi and Chiang Mai, as these destinations have limited seating capacity compared to Phuket and Bangkok, Mr Menard said.

Accor will continue to focus on the domestic market, which will help sustain its business during the pandemic, he said.

Mr Menard said about 90 per cent of the company’s properties took part in the fifth phase of the government’s We Travel Together hotel subsidy scheme.

AccorHotels in Southeast Asia, Japan and South Korea showed a marked improvement in Revpar in Q4 2022, down just 4% compared to the same period in 2019, with strong growth in Singapore, Thailand and Japan.

Accor has 87 hotels and 19,977 rooms under 11 brands in Thailand.

Its 21 hotels in the pipeline are expected to add 4,900 rooms to its portfolio.

This year, the company plans to open at least five hotels in Thailand, including the 662-room five-star Pullman Phuket Arcadia Karon Resort, which was launched in April from Hilton Phuket Arcadia Resorts. The hotel and spa were renamed.

The hotel targets families, business and leisure travelers, and clients from conference and incentive groups. Bleisure is a compound word that combines the words business and leisure.

Accor also plans to launch the Tribe brand in Thailand with the opening of the 272-room Tribe Living Bangkok Sukhumvit 39.

The company also plans to open the world’s largest “ibis Styles” hotel, the ibis Styles Bangkok Twin Towers, with 666 rooms, Mr Menard said.



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