Hotel bookings skyrocket as visitors flock in

Photo courtesy of Bangkok Post

Hotel giant Minor International Plc witnessed an astonishing 20 to 30% spike in bookings for the first two months of 2024 compared to last year.

Minor International Plc, dominating the hospitality scene as the nation’s largest hotel operator, is on the brink of a prosperous year. Chairman Bill Heinecke unveils the exciting news, projecting a tourism spending spree in Thailand throughout this year, with room rates and airfares soaring high in the wave of travel recovery.

With a staggering portfolio of over 530 hotels worldwide, Minor International Plc rakes in a substantial 11% of its total revenue from Thailand alone. The country’s allure as a tourism hotspot plays a pivotal role in fuelling Southeast Asia’s second-largest economy.

As Thailand braces for an anticipated influx of visitors, the government sets its sights on an ambitious target of 33.5 million foreign arrivals this year. To sweeten the deal, a series of enticing measures have been rolled out, including visa waivers for Chinese tourists, tax cuts on alcohol, and extended opening hours for nightclubs and bars, reported Bangkok Post.

Government data reveals that Thailand welcomed 28 million foreign visitors last year, contributing a staggering 1.2 trillion baht to the economy. A stark contrast to the pre-pandemic glory of 2019, where 39.9 million arrivals injected a whopping 1.91 trillion baht into the nation’s coffers.

In related news, noteworthy strides have been made by Thailand’s premier hotel operator, Centara Hotels & Resorts, in the past year. The chief executive, Thirayuth Chirathivat, marked last year as a year of significant accomplishment for the company, capitalising on the revived travel and hospitality industry to fortify Centara’s status and ensure a robust and sustainable future.

In other news, the Tourism Authority of Thailand aims to boost Ranong province’s tourism revenue to 7 billion baht in the current year, a substantial rise from 6.72 billion baht in the preceding year. The strategy is to increase the share of international tourists to 15% of total visitors, a significant recovery from the previous year’s slump.

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Alex Morgan

Alex is a 42-year-old former corporate executive and business consultant with a degree in business administration. Boasting over 15 years of experience working in various industries, including technology, finance, and marketing, Alex has acquired in-depth knowledge about business strategies, management principles, and market trends. In recent years, Alex has transitioned into writing business articles and providing expert commentary on business-related issues. Fluent in English and proficient in data analysis, Alex strives to deliver well-researched and insightful content to readers, combining practical experience with a keen analytical eye to offer valuable perspectives on the ever-evolving business landscape.

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