As the armed conflict in the Middle East continues to cause economic disruptions, hiked oil prices and impact international air travel, luxury hotels in Thailand have been cutting down their prices as a way to deal with the slowdown on tourism, according to a news report of VnExpress.
To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…
Luxury hotels across Thailand, the second largest economy in Southeast Asia, are rolling out deep discounts to attract domestic travelers as international arrivals weaken due to disruptions linked to the Middle East conflict.
Thai residents and expatriates are being offered discounts of up to 70% at five-star hotels, where nightly rates can typically reach US$1,000, Bloomberg reported.
At Mandarin Oriental, Bangkok, one of the capital’s most iconic riverside properties, rooms are now priced below $300 per night. In southern Thailand, a luxury resort overlooking the dramatic limestone cliffs of Railay Beach is offering stays from around $430 per night, roughly half its usual rate.
The steep promotions come as flight cancellations and airspace closures tied to the conflict in Iran disrupt key Europe-Asia travel routes, making journeys to Thailand more complex and costly.
Thailand’s Ministry of Tourism fears a loss of 596,000 visitors and 40.9 billion baht ($1.29 billion) in revenues if the conflict drags on for more than eight weeks.
Phangnga Province has already seen a sharp decline in European arrivals and estimates losses at nearly 1.7 billion baht ($52.3 million), according to its hotel association, Bangkok Post reported.
Authorities are also preparing contingency measures to offset any decline in arrivals from long-haul markets including Europe and the U.S. Thailand experienced a tourism downturn last year amid a combination of kidnapping incidents, flooding and border conflict.
The country is aiming to attract 37 million foreign visitors this year, a projected increase of more than 11% from 2025 but that target is increasingly at risk.
Let me end this piece by asking you readers: What is your reaction to this development? Does the discounting of room rates by luxury hotels in Thailand entice you to visit them? How long do you think the slump of tourism will last?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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