Many hoteliers outside of Thailand think about the red hot chili sauce sriracha when Si Racha is mentioned. Over the past few years the important center of industrial activity on Thailand’s Eastern Seaboard has flown under the radar of international hotel brands.
Today, incoming branded offerings by ACCOR’s Novotel, Ascott’s Somerset, Centara and a Movenpick in the works, are creating a major shift into the market.
C9 Hotelworks has released a new report titled Si Racha Serviced Apartment Market Update 2016 that includes coverage of the area’s hotels.
Si Racha-Chonburi is Thailand’s second largest industrial zone by scale, with over 65,000 work permits issued, and the second-largest Japanese community outside of Bangkok.
Currently the hotel and serviced apartment market stands at slightly more than 3,500 units while strong investment sentiment has bolstered the pipeline with 2,239 new room keys expected to enter the market by 2018.
Click on the images below to get a larger view:
C9 Hotelworks forecasts yet more branded properties to enter the supply pipeline within the year.
C9’s Bill Barnett said: “While short term the market is expected to be influenced by changes in the supply demand scenario, longer-term the planned high-speed Eastern Seaboard train project could be a major game changer to the area.
“Meanwhile hotels and serviced apartments are going to have to look for more diverse segmentation and an impact from new condo product is also expected to hit the core long-stay rental segment.”
The Mekong Tourism Coordinating Office (MTCO) welcomes contributions from tourism experts and travel storytellers. Click here to discover more about our contributor program.