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Thai hotelier confident of growth

Profile Photo By: Steve Shellum
August 29, 2016

Thai hotelier confident of growth

Tourism Council of Thailand optimistic in 2014 revenueThai hotelier Erawan Group is aiming for a more than 10 percent growth in revenue this year and an occupancy rate of 81 percent, saying recent blasts in southern tourist cities have marginal impact on the company.

Its hotel at Hua Hin, which was affected by recent blasts, contributes just 1.6 percent of total revenue and its occupancy rate rebounded to 80 percent last weekend from 40-50 percent after the bombings, chief financial officer Kanyarat Krisnathevin said.

The company’s revenue is expected to rise 18 percent in the third quarter, while the overall occupancy rate is likely to increase to 79 percent from 71 percent a year earlier, she added.

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