Average prices paid per night for hotel accommodation in Thailand fell 8 per cent in 2015 compared with 2014, according to the latest annual Hotel Price Index (HPI) report from Hotels.com.
The HPI is a regular report on hotel prices in major destinations across the world, tracking the movement in prices that people actually paid for their accommodation and providing valuable insight into the reasons behind the changes.
The data is drawn from bookings made on the hundreds of thousands of hotels on the Hotels.com websites worldwide.
According to the Ministry of Tourism and Sports, the number of travellers to Thailand surged in 2015. Visitor arrivals increased by 20.4% over 2014, totalling 29.8 million, driven by demand from the Chinese market.
However, travellers paid less in 95% of Thai destinations, including Phuket, said the HPI report.
Travellers to and within Thailand paid on average B2,968 per night (including taxes and fees), down from B3,226 in 2014. Among Thai cities analysed in the HPI, Kanchanaburi and Koh Samet saw the highest declines at 39%.
Top destinations for foreign visitors also saw a drop, as seen in Phuket by 14% to B2,754, while Pattaya and Chiang Mai dropped by 9% to B2,110 and 8% to B2,170, respectively.
The only destinations where travellers experienced an increase were Pranburi and Koh Ngai, by 7% to B5,529 and 5% to B3,473, respectively.
Hotel accommodation in popular destinations such as Udon Thani, Khon Kaen, Songkhla and Surat Thani proved to be competitively affordable with average prices paid ranging from B810 to B1,720 per room per night.
“The global index sat at 114 for 2015 and is closing the gap on the previous peak of 117 in 2007, the year before the global economic crisis,” noted the report.
Specifically, Thailand’s low inflation rate and lower global oil prices were both cited as partial reasons for the slump.
Yet, the report added that, “The 8% fall in hotel prices paid in Thailand was good news for travellers who found even more affordable rates at most destinations.
“Travellers to cities outside of Thailand also saw a decrease in prices per room, per night, such as in Kuala Lumpur by 20% to B2,087, Seoul by 19% to B3,232, Bali by 19% to B2,790, Singapore by 18% to B4,527 and Taipei by 13% to B3,279.”