BANGKOK : Thailand's Asset World Corporation Pcl said on Monday it expects luxury travel to be one of the first sectors to recover as the country's tourism sector revives, confirming plans to double its number of hotel rooms to 10,000 by 2026.
Wallapa announced on Monday plans for a 3.4 billion baht"wellness resort" in Bangkok covering 1.28 hectares of riverfront, including hotels, branded residences and spas. Foreign arrivals in the past two years to Thailand plummeted to a fraction of the nearly 40 million visitors in 2019, with tourism losing US$50 billion in annual revenue, an 82per cent plunge."40 million is large base with many segments ... we're targeting the luxury segment," Wallapa said.
In April last year, occupancy slumped to 1per cent, though it has recovered to 20per cent thanks to domestic demand, she said.
Source: News Formal (newsformal.com)
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