Thai hoteliers urged to slash prices

Thai hoteliers urged to slash prices

Thai hoteliers must cut prices or suffer in 2000, according to Tradewinds contracts manager Franco Sessini.

"If the bubble hasn't burst already, there is a good possibility it will do soon. Last year in low season, Phuket and Koh Samui were looking at occupancies of 80% or more; this year they're down in 30% and 40%," he said.

Despite the slackening demand, hoteliers are still holding out for higher prices. "We're finding buying-in rates for next year are up between 6%-20%. This will carry into 2000 and Ifeel demand for Thailand will suffer as a result," Sessini added.


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