New entrants to the Chiang Mai Hotel market
As tourism in Chiang Mai continues to reach new heights in terms of the numbers of visitor arrivals, many investors are scrambling to create/acquire or develop new hotels.
With the various limitations on height and density of new hotel developments in the city, not to mention the cost of the land, it is particularly hard to find a large enough site to develop, say a 100-200 room hotel on.
There are several consequence of the above, such as: (i) smaller, 10-30 room hotels are being built or renovated, or converted from other types of properties, and (ii) some well known, national or regional hotel groups are taking up long leases of existing smaller resorts, putting some money into them in terms of décor, maybe a pool or other facilities, and rebranding them.
Over the last 6-9 months, we have been involved with several of these properties where the revitalised property is far more attractive than it was and has been an almost instant success with guests—many of the new tourist arrivals to the city being far more discerning than visitors of even five years ago.
All good and positive for Chiang Mai tourism—long may it continue!
What do you think? Have you seen changes in the types of tourists coming to Chiang Mai and the types of properties available for them to stay in?
Perfect Homes is a leading Chiang Mai real estate agency with extensive experience in the city, regionally, nationally and internationally.