Itís no secret that the tourism industry has been suffering since the beginning of the global economic crisis. Fewer people are taking vacations and fewer people are traveling on business. Hotels, airlines, travel agents and just about anyone else involved in the industry has seen a steep decline in business.
In Thailand itís been even tougher. We had a rough patch last year when political instability caused the airport to close down (things are fine now and were always safe) and lots of folks who were planning trips here canceled them in favor of other destinations.
According to a recent survey by real estate company Jones Lang LaSalle, average occupancy rates for four and five star properties in Bangkok dropped about 30% for the first half of the year. Prices dropped too. Right now youíll pay about 10% less for five star or four star rooms compared to what you would have spent last year. And in case youíre curious, the average cost for five star rooms is about 5,000 Baht ($150) right now. For four star rooms itís about 2,700 Baht ($80).
For those of us lucky enough to still be vacationing, all of this means itís a great time to travel to Thailand. If youíve never traveled in Asia, you might not realize that five star hotels here are typically very, very swanky. When you compare what $150/night gets you in other places, you realize itís an amazing deal. Hotel room prices across all categories are down, so even if you donít want to go all out youíll still find some great values right now.
Photo copyright Conrad Hotel