Bangkok hotel investment volume to hit USD770m in FY2025

Leasehold properties are gaining traction amongst investors.

The decline in Chinese tourist arrivals is prompting Bangkok hotels to recalibrate their marketing approaches and pursue diversification across source markets, encouraging more resilient revenue streams, noted JLL in a report.

“Hotel investment volume is anticipated to reach about THB 25 billion (USD 770 million) in FY 2025, a notable increase from 2024, as investors are increasingly open to investing in leasehold properties,” the report said.

Here’s more from JLL:

No new hotels opened in Bangkok in the third quarter of 2025. The most recent opening in Bangkok was the luxury 52-key Aman Nai Lert Bangkok. However, more than 2,900 new rooms are anticipated to be added to the market by year-end.

As of YTD September 2025, Bangkok’s hotel market remains heavily concentrated in midscale and upscale segments, which together account for almost 75% of the existing supply.

Downward pressure on occupancy drives decline in RevPAR

In the first nine months of 2025, Bangkok hotels recorded a drop in RevPAR, mostly driven by a continued strong decrease in occupancy. With the appreciation of the THB against the USD, ADR declined from the same time last year on a local-currency basis.

However, as of YTD September 2025, Thailand registered about USD 607 million in hotel transaction volume (+27% y-o-y), witnessing continued strong investor interest in the market despite current headwinds.