Strong demand for live music from the region’s growing young population has already led to a 30% increase in hotel bookings in Bangkok in the first half of 2023, according to Southeast Asia-based travel app Traveloka.
Majority capital
As artists from around the world descended on the capital in the first six months of the year, including Harry Styles, Arctic Monkeys and Blackpink, Traveloka’s Thailand arm said the bulk of its significant bookings were coming from Bangkok.
The leading countries for inbound tourism included China, Taiwan, Indonesia, Vietnam, Great Britain, Singapore, Malaysia and Cambodia.
Growing hotel portfolio
The trend shows no signs of slowing down, with concerts from Coldplay, Charlie Puth and Sam Smith scheduled for Bangkok, so it’s no surprise that the city’s portfolio of high-end hotels is also growing.
Based on the latest THP data, at least 44 high-end properties comprising 11,250 rooms are set to move into the Thai metropolis over the next few years, representing key overall growth of 2% over the past 12 months.
Significant investment
In fact, nearly US$1.4 billion of investment in upscale and luxury housing will inevitably increase the number of hotels in the city. As a result, 57% of the 25 hotels are classified as four stars and the remaining 43% (19 hotels) are categorized as five stars.
A total of 33 projects, 75% of the high-end projects, are new construction, with seven renovations and four conversions rounding out the construction types.
Next year the zenith
2024 is currently the peak year for high-end hotel commissioning, with 12 projects expected, followed by 10 more in 2025. Between now and 2026, five projects are expected to be completed in each period. The remaining 12 records are either scheduled to be completed in the future or have a delivery date yet to be determined.
These timelines are reflected in the project’s stated milestones, with 25 properties under construction and another five in pre-opening stages, compared with 10 properties in the planning stage and four in pre-planning.
Brand plans
In terms of major hotel groups, IHG Hotels & Resorts tops the list of those planning expansion in Bangkok, with at least eight properties underway, followed by Marriott International with at least seven. Hilton Worldwide hits the runway with at least four additions planned.
Among individual brands, Marriott’s luxury line The Ritz-Carlton tops the rankings with at least three upcoming projects. At least a couple of hotels are IHG’s Crowne Plaza Hotels & Resorts and voco hotels, as well as Hilton’s Hilton Garden Inn.
Worth a look
One of IHG’s largest projects is Six senses Forestias, part of a revolutionary forest city on the outskirts of Bangkok that aims to bring a healthier lifestyle to Thailand. The site is planned to house 85 boutiques and fine dining spaces spread over nine floors above a green and lush podium. Commissioning of the facility is scheduled for the fourth quarter of 2025.
Marriott lists JW Marriott Marquis Asiatique Hotel Bangkok, located at Asiatique The Riverfront. The 1,000-key site is expected to become a mindfulness sanctuary in the Thai capital, located on the Chao Phraya River, in the first quarter of 2027. Featuring functional meeting facilities and the JW Spa, the hotel will appeal to sophisticated, discerning travelers and provide a luxurious retreat for guests.