1. travel
2. tourist facilities
3. hotel

MARKETVIEW
Phuket Hotel, Q4 2014
Chinese arrivals to Phuket
increased by 41% Y-o-Y in
December
Occupancy
+14.6% q-o-q
ADR (THB)
+48.2% q-o-q
QUARTERLY HIGHLIGHTS
•
Occupancy of upscale hotels (with average
The tourism industry in 2014 was affected by
the
political
unrest.
The
number
of
international tourists to Thailand decreased by
between THB 2,000 and
6.7% Y-o-Y from 26,556,397 arrivals in 2013 to
THB 10,000) increased slightly from the same
24,779,768 in 2014, meanwhile the number of
period last year by 0.9 percentage points to
international tourist arrivals disembarking at
around 70%.
Phuket International airport increased slightly
daily room rates
•
REVPAR (THB)
+98.0% q-o-q
The Average Daily Rate (ADR) of upscale
by 1.1% Y-o-Y.
hotels in Q4 dropped compared to the same
period last year.
•
Revenue per Available Room (RevPAR) has
decreased Y-o-Y by 5% due to the decrease in
the average daily rate.
•
Total hotel supply is expected to increase by
around 22% by the end of 2018.
OUTLOOK
We expect to see an improvement of hotel
performance in Phuket in 2015. However, there
are some challenges facing the market. The
Phuket hotel market has become increasingly
dependent on the Chinese market which will
create challenges with danger of hotels being
dominated by a single nationality of guests
deterring other nationality guests.
New supply and competition from other West
Coast destinations such as Khao Lak will
possibly restrict growth in Phuket occupancy and
potential for room rate growth.
Q4 2014 CBRE Research
Direct international flights to Phuket helped
insulate the destination from the negative
effect of unrest in Bangkok. The growth in the
number was driven by an increase in number
of East Asian tourist arrivals by 11.5% Y-o-Y.
The European market has been affected
negatively mainly due to 20% depreciation of
Euro
and
50%
depreciation
of
Rouble,
resulting in a decrease in the number of
European tourists by 7.2% Y-o-Y.
The key highlight of the quarter was the rapid
increase in Chinese arrivals. Chinese direct
arrival’s increased by 25% Y-o-Y and China is
now
Phuket’s
biggest
feeder
market
accounting for 20% of total direct arrivals. We
expect to see a continued increase in tourist
arrivals especially from China which should
result in improved hotel performance.
© 2015 CB Richard Ellis (Thailand) Co., Ltd. |
1
M A R K E T V I E W PHUKET HOTEL
TOURIST ARRIVALS TO PHUKET BY COUNTRY
RANK
COUNTRY
Q4 2014
% CHANGE Y-O-Y
1
China
250,671
25%
2
Russia
178,474
-14%
3
Australia
63,603
-2%
4
Korea
53,388
-20%
5
Malaysia
34,477
5%
6
Singapore
33,990
4%
7
United Kingdom
31,788
7%
8
Germany
27,225
-1%
9
Sweden
24,820
-16%
10
France
19,304
28%
Source: Office of Tourism Development
Although the number of international tourist
arrivals
disembarking
at
Phuket
International Airport increased in 2014, the
performance of Phuket hotels was subdued.
The average occupancy rate of upscale hotels
in Phuket (ADRs of over THB 2,000)
decreased slightly by 0.8 percentage points
year on year in 2014. Most hoteliers in
Phuket were not able to increase rate in 2014,
with only the luxury hotels were able to
increase their room rates by 3.8% Y-o-Y.
Total International Passenger Arrivals at
Phuket International Airport, 2004-2014
No. of
Passenger
Q1
Q2
Q3
Q4
No. of Passenger
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
In terms of future hotel developments,
500,000
eleven hotels are expected to be completed in
0
2015, adding another 2,000 keys to the
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
current stock. The rate of future hotel growth
has slowed down with 3,700 keys expected to
be
completed
by
the
end
of
Source: Office of Tourism Development
2018,
representing an increase of 22.0%.
Q4 2014 CBRE Research
© 2015 CB Richard Ellis (Thailand) Co., Ltd. |
2
M A R K E T V I E W PHUKET HOTEL
QUARTERLY REPORTS
Phuket Property Report
The Phuket Property Report, the latest quarterly subscription report by
CBRE Research in Thailand, is an initiative designed to bring
professional analysis and transparency to the growing Phuket property
market.
The report provides detailed information and analysis from CBRE’s
comprehensive and unrivalled Phuket and overall Thailand database,
combined with our own exhaustive market and property surveys.
Bangkok Property Report
The Bangkok Property Report, now in its 18th year, is CBRE Thailand’s
flagship quarterly subscription publication, with data from a tried and
tested database reinforcing its reputation as Bangkok’s definitive
property sector source.
The Bangkok Property Report provides in-depth analysis of the Bangkok
real estate market, including property supply and demand, occupancy,
take-up, prices, rental trends and other indicators.
CONTACTS
FOR MORE INFORMATION ABOUT THIS PHUKET HOTEL MARKETVIEW, PLEASE
CONTACT:
CBRE Research, Thailand
CBRE Consulting, Thailand
James Pitchon
Executive Director
46th Floor, CRC Tower,
All Seasons Place,
87/2 Wireless Road, Lumpini, Pathumwan,
Bangkok 10330
t: +66 (0)2 119 2901
e: james.pitchon@cbre.co.th
Varoot Vongvarotai
Analyst
46th Floor, CRC Tower,
All Seasons Place,
87/2 Wireless Road, Lumpini, Pathumwan,
Bangkok 10330
t: +66 (0)2 119 2933
e: varoot.vongvarotai@cbre.co.th
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