Survey shows most hotels can only cover operation costs for less than 3 months

[Thaiger]

A survey by the Bank of Thailand shows that most hotels can only cover their operating costs for less than 3 months. 220 properties were surveyed between June 14 and 27. Of those, 17 are alternative state quarantine facilities, while 3 properties serve as “hospitels”. 68% of those surveyed say they only have enough liquidity to cover their operating costs for less than 3 months. And according to a Bangkok Post report, 26% only have enough liquidity for less than a month. Despite a slight uptick in occupancy rates, there is simply not enough business and 19.5% hotels have temporarily […]

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[AlexPTY]

So would other businesses nobody seems to care about 

[EdwardV]

Well then they are screwed as meaningful numbers are not showing up till October at best, next spring at worse. 

[Stonker]

 

 

 

9 hours ago, AlexPTY said:

So would other businesses nobody seems to care about 

Exactly. Everybody's hurting, but all this government seems interested in are hotels, whether it's soft loans or vaccines.

 

Around me, in rural Isan, it's normally 80:20 growing sugar cane commercially and rice for personal / local consumption.  This year it's changed to 70:30, with a lot more rice.

 

People are going into survival mode.

[Stonker]

9 hours ago, EdwardV said:

Well then they are screwed as meaningful numbers are not showing up till October at best, next spring at worse. 

It's not just about international tourists, apart from places like Phuket and Pattaya. I live in what's normally a major tourist area, but maybe one in a thousand at the most are foreigners and they're expats not tourists.

[EdwardV]

59 minutes ago, Stonker said:

It's not just about international tourists, apart from places like Phuket and Pattaya. 

I use to live in Buriram, I've seen the few smallish hotels are mostly filled with Thais. However even they are hurting now and are not going to rebound until people are vaccinate in Issan. Unfortunately something not high on the government's list, sometime this winter or next spring.