BANGKOK (The Nation / ANN): A survey of the hotel industry found that 47 percent of hotels have liquidity to keep their business going for less than three months.

47 percent of the hotels could stay open for less than three months

The hotel business confidence index published by the Bank of Thailand in April 2021 surveyed 188 hotels across the country from April 12 to April 26.

Of the hotels surveyed, 30 are alternative state quarantine facilities (ASQ).

Fifty-six companies reported a drop in liquidity of more than 20 percent compared to the previous month due to the latest wave of Covid-19, while 47 percent said their liquidity situation could keep their hotels open for less than three months.

The survey also found that 46 percent of hotels were open as usual, while 13 percent had temporarily closed their doors. Most of the closed hotels are located in the southern region, which is focused on foreign customers.

“Most closed hotels should reopen in the fourth quarter of the year when the situation improves,” the report said.

The occupancy rate of 158 hotels that do not function as ASQ averages 18 percent. Hotels in the northern region have the lowest occupancy with 4.1 percent, followed by the northeast with 10.9 percent, central with 18.7 percent and south with 23.2 percent.

The Bank of Thailand estimates that the average occupancy could drop to 9 percent in May if the outbreak persists.

The survey also found that hotel companies that are still in operation employ 59 percent of the workforce, compared to when the last wave was reported. Measures hotels are taking to manage staff during Covid-19 include wage cuts, the ability for employees to use their sick days, allow free vacation, and alternate working days. – The Nation / Asia News Network

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