Upscale hotels to account for 49% of Bangkok's new rooms through 2030

Around 7,495 new upscale hotel rooms are expected to enter the market.

Bangkok's hotel market maintained firm operating fundamentals in the first half of 2026 despite a downward revision to Thailand's international visitor forecast, according to JLL.

Hotel openings remained limited in the second quarter, with just one new property entering the market in April: the 405-key Grand Nikko Bangkok Sathorn. JLL said upscale and midscale hotels together accounted for nearly three-quarters of Bangkok's existing room supply as of June.

The upscale segment is expected to dominate future additions. JLL projects that upscale hotels will account for 49% of new rooms between July 2026 and December 2030, equivalent to approximately 7,495 keys.

Operating performance remained positive, with Bangkok hotel RevPAR increasing 1.0% year-on-year in the year to June 2026, supported by higher occupancy, JLL said.

Hotel investment activity, however, remained subdued. Only one transaction was completed in Thailand during Q2, involving the sale of the 258-key Ibis Phuket Kata by Origin Property under its Build-Operate-Exit-Reinvest asset management model.

The tourism outlook has become more cautious. JLL noted that the Tourism Authority of Thailand has cut its 2026 international arrival forecast to 30-34 million visitors, from an initial projection of 36.7 million, citing global economic pressures and flight constraints.

Despite the lower visitor forecast, total tourism revenue is still expected to reach THB 2.58 trillion, according to JLL, suggesting that stronger spending and resilient hotel fundamentals could help offset softer visitor volumes.