Ms Abdullah says hotels have to rely on the domestic market for the rest of this year as international tourists may not arrive until the fourth quarter.
Oakwood’s extended-stay business model has helped it withstand the lack of international arrivals as it remains on pace to have 12 properties in its Thailand portfolio by 2023.
“Our core business focuses on extended-stay guests and this has allowed us to survive the pandemic,” said Lina Abdullah, regional general manager for Cambodia, Myanmar and Thailand at Oakwood, a fully-owned subsidiary of Mapletree Investments.
This model applies to Oakwood Hotel and Residence Si Racha, which is its most resilient property with 230 long-term expat guests, contributing 25% of its occupancy.
She said the hotel in Si Racha has maintained a 55-57% occupancy rate during the current wave.
Its hotels in Bangkok