The third quarter of the year 2018 is expected by many experts in the Thai tourism industry to be a period of staggering growth, with corporate and vacation traveller numbers booming during that time span. To take advantage of this, a new hotel near Bumrungrad Hospital, near the Nana BTS Station, the Hyatt Regency Bangkok Sumhumvitis scheduled to open at that period.
The hotel’s General Manager, Sammy Carolus, said in a statement that the new hotel will be the first Hyatt Regency brand hotel in Bangkok, which will join its sister brand hotels the Hyatt Place Bangkok Sukhumvit, Park Hyatt Bangkok and the Grand Hyatt Erawan Bangkok.
The property is currently under development, handled by Grand Asset Hotels and Property PLC., and, as mentioned before, is located in the heart of Sukhumvit Road, a new hotel near Bumrungrad Hospital, not far from the Nana BTS Station.
This new development will be a 273-room hotel, and, once open and operational, will be aimed at both corporate and leisurely travellers. Features include a daylight ballroom, a botanical garden, and, for the more business-minded guests, multi-purpose meeting rooms.
According to Carolus, the Thai tourism sector is slated to continue growing, with the capital set to experience a boom in travellers. He adds that the average occupancy rate in 2017 for the country is about 85%, whilst the Sukhumvit area experiences an average of 90%.
With these numbers, the industry experts expect that daily room rates in the capital will remain as some of the lowest in the Southeast Asia region. Additionally, the tourism authorities are adjusting their strategies, with the numbers of travellers so high, they’re focusing on improving the general experience, instead of attracting people.
Carolus says that the new hotel is hoping to get a 70% occupancy rate within the first year of operations, which the hotel will then normalize to the area’s averages, around 80-85%. He says that the new hotel will be primarily aimed at the intra-Asian markets, alongside the United States, the Middle East and Australia.
The new Hyatt Regency Bangkok Sukhumvit, once operational, will be competing with the existing hotels, such as the Sofitel Westin Grand, and Hilton, among others.
Hyatt is continuing to look for new opening opportunities, Carolus says, to open new properties in Thailand.