2-1-2024 (BANGKOK) As tourism rebounds worldwide, Thailand’s hospitality giants are capitalizing on robust travel demand to expand their global footprints and shore up profits.
Major Thai hotel chains saw strong performance in 2023, with some achieving higher average daily rates than pre-pandemic levels in prime destinations. The groups continue spreading their brands far beyond Thailand to tap recovering markets.
Minor International, Thailand’s largest hotel operator, now oversees 540 properties in 56 countries after adding 8 new hotels in early 2023 alone. Its strategic growth in Europe comes through partnerships with NH Hotel Group, while it leverages Asia-born brands like Anantara in new regions.
S Hotels & Resorts has concentrated overseas as well, operating 27 hotels in the UK. But it also wants to raise its profile in coastal Asia-Pacific. S Hotels launched a new Maldives resort last year and plans renovations at Thai havens like Koh Samui.
Centara Hotels & Resorts runs 51 hotels across 8 countries. It reinforced its strongest brand, Centara Grand, by launching new locations in Japan and Thailand in 2023. Southeast Asia and the Middle East are target markets for future expansion.
Dusit International expects to open its landmark Dusit Thani Bangkok this year after extensive renovations. It aims to add 10 new hotels annually focusing on China, Southeast Asia and Europe.
Onyx Hospitality seeks to reach 70 properties by 2028, up from 44 now. It is honing in on Thailand and Malaysia but also plans an Indonesia debut.
While others grow brands, Asset World Corporation partners with chains to make ownership plays. It had 22 hotels last year and 5 more under development, capitalizing on reviving tourism flows.
As travel rebounds further, Thailand’s hospitably giants should continue checking in to new markets and properties worldwide. Their ambitious global growth mirrors the sector’s own resilience.
