There may be an oversupply of hotels in Bangkok, but Well Hotels & Resorts still sees opportunity, particularly in the upscale segment, as the Bangkok Post reports. The group, in fact, will launch a new hotel in the Thailand capital city later this year: the Well Hotel Bangkok Sukhumvit.
The group's CEO, Danai Wansom, told the Bangkok Post that there was still runway to grow in Bangkok in the upmarket sector. Thailand, in general, is seeing an uptick in foreign travelers, particularly from China.
The number of Chinese tourists visiting Thailand is expected to rise to 6 million this year, up from 4.6 million the year prior.
The 235-room Well Hotel is being positioned to service the medical and wellness market.
Well Hotels said it expects to manage up to 15 hotels by 2022.
"The business environment is changing because everything can be done via the Internet and social networks, Danai told the Bangkok Post.