Investments from Japanese Hoteliers Vying for Market Share in Thailand
Thailand‘s rising economy is the driving force of its investments in the property and commercial markets. Foreign direct investments amount is still increasing and is expected to continue well into 2019.
On the other hand, Japanese hotels are scurrying for more investments in Thailand to meet rising demand for high-end accommodation. They will vie for market share with global players such as Marriott of the United States and Accor of France.
Okura Nikko Hotel Management Co plans to set up a third hotel in 2021. It opened its first Hotel Nikko with 301 rooms im January. The new hotel will come with a luxury Japanese restaurant, an outdoor swimming pool and bathrooms equipped with shower toilets.
Hotel Nikko Bangkok, offerings rooms starting from 4,500 baht per night, expects 55% of its guests to be Japanese. Moreover, the Tokyo-based company also operates the Okura Prestige Bangkok.
Other mega-branded hoteliers from Japan are also looking for investments in the country.
Japanese chain Kuretakeso Co’s eight-story project at 370 million baht will host 107-rooms, including six tatami-mat rooms, in Sriracha, southeast of Bangkok. It is one of its first investments in the city.
Catering to business travelers, Kuretakeso hotel will host a spa, a fitness center, meeting rooms, restaurants and a comic book-reading space. Room rates range from 2,100 baht to 2,400 baht.
UN World Tourism Organisation reveals foreign visitors to Thailand reached 35.38 million in 2017, making it he 10th most popular destination globally and the second most popular in Asia after China at 60.74 million.
Source: Bangkok Post