• Thailand entered the sixth straight month of no inbound tourists as the government extended the ban on commercial flights to Thailand. The number of tourist arrivals for the first nine months of 2020 remained at 6.7 million, a decrease of 77.3% Y-o-Y.
• Chinese tourists remained the largest market feeder with 1.2 million, decreasing 85.4% Y-o-Y from 8.5 million arrivals in Jan to Sep 2019.
• Q3 occupancy rate was 13.7%, decreasing 63.4 percentage points Y-o-Y. ADR decreased by 30.9% Y-o-Y to THB 2,251 and RevPAR had a significant drop of 87.8% Y-o-Y to THB 308 in this quarter.
• ASAI Bangkok Chinatown was the only new hotel opening in Q3 2020 with a total of 224 keys. Hotel supply in Downtown Bangkok was 49,825 keys in Q3 2020, increasing 2.8% Y-o-Y.