Lobby of Madi Paidi Bangkok Autograph Collection, opening this year.
Marriott International wants to continue increasing room rates this year to secure growth in Thailand as it aims to open eight more hotels.
“We have a lot of faith in Thailand,” said Jakob Helgen, area vice president of Thailand, Vietnam, Cambodia and Myanmar at Marriott International.
Mr Helgen said Thailand’s reopening without restrictions, which could have attracted more than 11 million foreign tourists last year, had really made the country a sought-after destination.
He said the company would ramp up its expansion after facing delays in construction and product management over the past two years.
The average room rate of Marriott properties in Thailand rose 15% in December last year from pre-pandemic levels, though average occupancy rates still lagged.
The company will continue to look for pricing opportunities through certain segmentations, such as direct bookings, transient customers and business travelers.
It expected to maintain a healthy room rate through the first quarter.
Despite economic headwinds, the company expected an improvement this year, driven by pent-up demand from Chinese travelers. However, the problem of limited flight capacity remains, said Mr. Helgen.
Marriott operates 48 hotels in Thailand, including more than 13,000 rooms under 14 brands. Courtyard by Marriott North Pattaya, the country’s third Courtyard branded property, opened its doors last year.
The company, which plans to open eight hotels in Thailand this year, will launch two new brands in the country: Moxy Hotels and Autograph Collection Hotels. This brings the number of brands operating in the country to 16.
Madi Paidi Bangkok Autograph Collection, with a premium position and 56 rooms, is expected to open in the middle of this year, while the 500-room Moxy Hotel Ratchaprasong, which offers affordable options on a select service scale, is expected to open in the third quarter.
Mr Helgen said people will travel more after the pandemic, mixing work and leisure and opting for longer stays.
With good diplomatic relations between Thailand and Saudi Arabia, Marriott International is also eyeing the Saudi Arabian market along with other markets in the Middle East.
The extension of the eligible stay in Thailand from 30 days to 45 days until the end of the year will strongly support the tourism recovery. In its five-year plan, the company aims to open 30 new hotels in Thailand.