Monday , April 22 2024

Hotel room rates in Southeast Asia skyrocket amid tourism boom


Hotel rates in Southeast Asia’s tourist cities are getting more expensive, fueled by a post Covid travel boom, especially the return of Chinese tourists after three years of Covid lockdowns.

Hotel rates are at an “all-time high” thanks to growing travel demand, Alan Watts, Hilton’s Asia-Pacific president, told CNBC.

The average hotel rates across Southeast Asia have shot up more than 10% since 2022, according to data from travel booking company Traveloka.

Room rates have climbed over 45% in tourist hotspots that are witnessing a surge in Chinese arrivals post pandemic, said the company’s chief strategy officer, Joydeep Chakraborty.

The most significant increases were recorded in Bangkok (over 70%) and Singapore (over 40%), as well as Bali and Phuket, Chakrabortysaod.

China reopened its borders on Jan. 8. Since then, Southeast Asian countries like Thailand and Indonesia have been welcoming an influx of Chinese visitors.

Data shows a growing demand for luxury hotels among Chinese travelers. A report published by Morgan Stanley on Feb. 7 showed that Chinese interest in luxury hotel stays had jumped to 34% in 2023, compared to 18% for a year earlier.

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