Bangkok (Thailand) – January 28, 2015 – Thailand's tourism industry has turned around after a very difficult year in 2014 and recovered with strong growth in the fourth quarter, according to data released exclusively at the Thailand Tourism Forum 2015 by STR Global.

Held at the InterContinental Bangkok for the fourth time, the conference attracted a record number of over 500 delegates from across Asia, who gained insights into the Thai tourism industry from industry leaders at the leading hospitality event.

The positive news for the industry was welcomed after Jesper Palmqvist, STR's Area Director for the Asia-Pacific region, announced the dramatic decline in occupancy rates for most of 2014. Occupancy fell by 11.3% year-on-year, primarily due to Bangkok's 16.2% drop. This followed a 20% decline for nearly half the year, with the worst months exceeding 30%.

However, the recovery began at the end of the third quarter, and in the fourth quarter the tide finally turned for Bangkok. After a weak start to the year, RevPAR (revenue per available room) rose by 2.5% year-on-year in the last quarter.

Occupancy in Bangkok in December was one of the highest STR Global has recorded since 2000, and quarterly, the fourth quarter of 2014 saw the best occupancy rate in Bangkok since 2006. Furthermore, RevPAR was the second-best fourth quarter figure of the last decade, suggesting that six to nine months is the new norm for recovery time in Bangkok.

The delegates also learned about developments in Thailand's main tourist regions. In Phuket, occupancy rates fell by 5.7% compared to the previous year, and on Koh Samui by 1.6%. On a positive note, Chiang Mai, although experiencing a 4.2% decline in occupancy, saw positive RevPAR growth thanks to rising average daily rates (ADR). Hua Hin also managed to keep prices stable, while Pattaya was more severely affected by a 10% drop in occupancy compared to the previous year.

The Thailand Tourism Forum 2015, organized by AMCHAM Thailand and leading hotel consultancy C9 Hotelworks, was opened by Suchad Chiaranussati, founder and chairman of SC Capital Partners.

In the subsequent sessions, industry leaders from numerous top companies appeared as speakers, including InterContinental Hotels Group, Minor Hotel Group, ONXY Hotel Group, Centara Hotels & Resorts, Horwath HTL, Jones Lang LaSalle, QUO Global, Baker & McKenzie and Kingdom Property.

About the Thailand Tourism Forum: The Thailand Tourism Forum is an annual event held in January, organized by AMCHAM Thailand and leading hotel consultancy C9 Hotelworks. Now in its fourth year, it attracts renowned industry experts and a steadily growing number of participants from across the region – over 500 in 2015 – establishing itself as the most important hotel event of the year in Thailand.

For further information, please contact: Bill Barnett, C9 Hotelworks, Email: [email protected], Tel.: +66 (0)8 1956 1802, www.c9hotelworks.com