Hoteliers in Koh Samui are suffering from oversupply, dragging down the occupancy rate.
The occupancy rate on the island during the final quarter this year, as of Dec 20, has plunged to 30% from 50% in the same period of 2018, said Vorasit Pongkumpunt, president of the Tourism Association of Koh Samui.
During the last two weeks of December, the occupancy rate should rise to 90%, putting it at 50% for the year.
He attributed the low figures to the strong baht and trade war, as major markets such as the Chinese flock to cheaper beach destinations in Vietnam, the Philippines and Indonesia.
The slowdown will linger into the first quarter next year, considered the high season for the island.
The occupancy rate for next year’s first quarter in Samui stands at 35%, down from 50-60%, according to bookings. Authorities have discussed various solutions including a cruise terminal, expanding the number of flights to the island and even building a bridge to connect to the mainland.
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