SET-listed Asset World Corp (AWC) is pinning its hopes on a full reopening in the second quarter, focusing on a footprint expansion in Chiang Mai with three hotel projects this year.
Wallapa Traisorat, AWC chief executive and president, said bookings from international guests during the fourth quarter last year in Bangkok and Phuket increased by 1.8 and eight times, respectively, compared to the same period in 2020.
Meanwhile, April's bookings have continued to improve thanks to the cancellation of the pre-travel RT-PCR test. The average occupancy this month should exceed 40%, before rising to 50% in June.
"The tourism industry can expect an influx of travellers after the easing of more restrictions as Thailand is always the top travel choice," Mrs Wallapa said.
The company's hotel business is expected to rebound strongly during the second half, which will help build up momentum for 2023.
The company opened the five-star Meliá Chiang Mai on April 10, targeting both leisure tourists and a new generation of Mice (meetings, incentives, conferences, and exhibitions) travellers.
The other projects in Chiang Mai are Le Méridien Chiang Mai, which will be rebranded to a Marriott to attract large corporate groups, while the InterContinental Chiang Mai Mae Ping will be ready by the end of this year.
Mrs Wallapa said the company has a customer base of 400 million thanks to its partnerships with global brands. This strength could bring more tourists to Chiang Mai.
At present, AWC is operating 19 hotels in six major destinations totalling 5,201 rooms.
Last year the company reported total revenue of 8.28 billion baht, up 26.2% year-on-year, of which hospitality business provided 1.9 billion baht, a 35.7% decrease.
Meanwhile, Somradee Chitchong, deputy governor for administration at the Tourism Authority of Thailand, said Chiang Mai was a popular destination for both the local market and digital nomads. It's also famous for wellness and responsible tourism.
Chiang Mai tourism is projected to generate 55.3 billion baht for the local economy this year, or half the level recorded in 2019.
Ms Somradee said Thailand remains a preferred destination, as seen from the number of international buyers who want to join Thailand Travel Mart Plus (TTM+) 2022, a major business-to-business travel trade event taking place between June 8-10 in Phuket. Demand for bookings at the event has already exceeded the slots available.