Thailand's Hotel Market in 2025: Fewer Deals – Bigger Bets

A new forecast from hotel broker JLL hits a note of optimism at a time when some critics worry Thai tourism is hitting the skids. Expect people to do fewer hotel deals in Thailand this year, but for those deals to be bigger.

Thailand’s hotel investment market is returning to normal after last year’s post-pandemic surge. Hotel brokerage JLL projects that total deal volume will reach 13 billion Thai baht ($385 million) in 2025 — about 40% below 2024’s record from a one-time rush of delayed deals.

A JLL report issued Thursday said investors are now focused on fewer but larger acquisitions.

The average deal size is expected to reach THB1.8 billion ($53.2 million) in 2025. That would be 80% higher than the THB1 billion ($29.5 million) 10-year average.

JLL believes that single-asset transactions will likely remain the norm, following notable deals like the 273-room Hyatt Regency Bangkok Sukhumvit, which in 2024 became Thailand's largest-ever single hotel tr