Bangkok hotel occupancy rates climb to 79% in 2024

Occupancy grew by 2.8 percentage points from last year.

According to a Knight Frank report, Bangkok’s hotel industry demonstrated a robust performance in 2024, with occupancy rates climbing to 79%, representing a 2.8 percentage point increase from the previous year.

“Growth was consistent throughout most of the year, with February and December achieving peak occupancy rates of 84%, surpassing 2023’s figures of 74% and 82%, respectively. Even during September, typically the weakest month, occupancy improved from 73% in 2023 to 75% in 2024. This consistent upward trend highlights the resilience of the hospitality sector, driven by a surge in international arrivals and sustained travel demand,” the report said.

Here’s more from Knight Frank:

The Average Daily Rate (ADR) also saw significant growth, rising from THB 3,948 in 2023 to a record-high THB 4,241 in 2024. This increase helped fuel revenue per available room (RevPAR) growth across the city’s hotels. While January showed a slight decline, February surged to THB 4,567, aligning with the peak-season demand.

Mid-year months, which are typically slower, still recorded moderate gains, while December posted the strongest growth with a 17% year-on-year increase, supported by high-season tourism and increased traveller spending.