The hotel supply pipeline for Thailand as of September 2013 stood at 93 hotels, representing about 16,000 rooms according to STR Global. Of this, 30 hotels and about 4,700 rooms are currently under construction. As would be expected, most of the supply pipeline is concentrated in the key markets of Bangkok (30 hotels, 6,000 rooms) and Phuket (22 hotels, 3,500 rooms). Pattaya is another market that has a significant pipeline of hotel projects, with 16 hotel projects identified, representing about 3,300 rooms to be added to the market, mostly expected over the next three years. With some questions on Pattaya’s ability to absorb the supply pipeline in the coming years, generally, we do not see an issue of oversupply for Thailand, as tourism growth is expected to remain strong.
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