Category: The Bangkok Post

A special joint session of parliament will be held on Oct 14-15 to debate three proposed constitutional amendment bills, Parliament President Wan Muhamad Noor Matha said.

These dates were the outcome of a joint meeting on Wednesday between himself, party whips, representatives from the cabinet, the Senate, and MPs from both the government and opposition parties.

The meeting agreed the three proposed constitutional amendments submitted by the People’s Party, the Pheu Thai Party, and the Bhumjaithai Party will be considered concurrently, though separate votes will be held during the first reading.

A 42-member special committee will be set up to study the bills further as they embark on the next stage of their journey.

The second and third readings will be handled according to the proportional representation of MPs and senators.

The total debate time has been allocated at 19 hours and 30 minutes, divided as follows: one hour for the session chair’s duties, five hours and 30 minutes for the Senate, three hours for the governing coalition parties, and 10 hours for opposition parties.

The debate sessions will be broadcast live over two days.

Voting is expected to take considerable time, as each of the 700 members must cast their vote individually, indicating whether they approve, disapprove, or approve all three bills.

Mr Wan added that during Wednesday’s tripartite whip discussion, no parties raised concerns about the content of the bills.

There was mutual agreement across all sides on moving forward with constitutional reform, with the goal of drafting a new constitution, Mr Wan said.

The process must adhere to the Constitutional Court’s ruling, which has already guided how amendments may be undertaken.

“The ruling outlines how the constitution can be amended, what methods are permissible, and how a Constitutional Drafting Assembly (CDA) may be formed,” Mr Wan said.

“Today, we have distributed the interpretation of the Constitutional Court’s ruling to all MPs and senators, so it may serve as the basis for their deliberations.”

He said the court had been consulted on various concerns, including the number of referendums necessary, procedures for amendments within the existing constitutional framework, and the scope of permissible changes.

Mr Wan said amending the constitution is a significant matter.

“It must undergo readings one, two, and three, and must meet the required vote thresholds in accordance with the established criteria,” he said.

At The World’s 50 Best Bars 2025 award ceremony, held in Hong Kong last night, Bar Leone in Hong Kong ranked No.1 on list, making it the first bar in Asia to be awarded the title. It also took home the title of The Best Bar in Asia 2025.

Nestled in Hong Kong’s Central district, Bar Leone is the brainchild of Lorenzo Antinori, whose storied resume encompasses some of Europe and Asia’s most beloved hotel bars, including London’s American Bar at The Savoy and the now-defunct Dandelyan. Built on the philosophy of “cocktail popolari” or “cocktails for the people”, Bar Leone pays tribute to the neighbourhood bars of Rome, where locals gather for coffee, aperitivi and casual conversation. The interior is a love letter to the city in the 80s and 90s and is designed to be approachable, unpretentious and deeply rooted in Italian culture and hospitality.

The 2025 list features bars from 29 cities with eight new entries spread across Athens, Bratislava, Guangzhou, Lima, New York, Oslo, Tirana and Tokyo. In Bangkok, Bar Us rose a remarkable 26 places to No.15 and BKK Social Club is at No.49.

Of the 23 bars in Europe, London reigned supreme as the region’s cocktail capital with four bars: Tayer + Elementary at No.5, Connaught Bar at No.6, Satan’s Whiskers at No.21 and Scarfes Bar at No.31. They were joined by Edinburgh’s Panda and Sons at No.34.

The title of The Best Bar in Europe was retained for the third time by Barcelona’s Sips at No.3 as co-founder Simone Caporale was awarded the Industry Icon Award. Paradiso in Barcelona came No.4 with Madrid’s Salmon Guru at No.37. Athens continues its ascendancy, with Line at No.8 alongside Baba au Rum, this year’s Legend Of The List, at No.27 and new entry The Bar In Front Of The Bar at No.47.

Milan’s Moebius Milano was the Highest Climber, having risen an impressive 31 places to No.7. It was joined by 1930 in Milan at No.43, with Florence’s Locale Firenze at No.22 and Rome’s Drink Kong at No.40. Paris was represented by Bar Nouveau, rising 22 places to No.17, The Cambridge Public House (No.20) and Danico (No.30).

For the first time, bars from Eastern Europe were ranked in the list, with new entries Mirror Bar in Bratislava at No.25 and Nouvelle Vague in Tirana at No.28. In Scandinavia, Oslo’s Himkok (No.14) was joined by another new entry, Svanen at No.32, with Röda Huset in Stockholm at No.35.

New York City reaffirmed its status as North America’s cocktail powerhouse, with four bars making this year’s list: Superbueno (rising 15 places to No.12), who was joined by newcomer Sip and Guzzle (No.39), named this year’s Three Cents Best New Opening, alongside Double Chicken Please (No.41) and Overstory (No.46). In New Orleans, Jewel Of The South is No.44.

In Mexico City, The Best Bar in North America is Handshake Speakeasy at No.2, with Tlecan, a new entry in 2024, at No.23. Bar Mauro, which placed at No.54 on the extended list of bars ranked 51-100, is the recipient of the One To Watch Award. The Best Bar in South America is once again Buenos Aires’ Tres Monos at No.10, with neighbour CoChinChina at No.26. Lima’s Lady Bee is No.13 and the recipient of this year’s Art Of Hospitality Award, alongside new entry Sastrería Martinez at No.33. Alquímico in Cartagena is No.11 while São Paulo’s Tan Tanis No.24.

With three bars on the list, stalwart Bar Benfiddich (No.18) was joined by Virtù at No.45 and new entry The Bellwood at No.48. Host city Hong Kong also had Coa at No.38 on the list. Singapore’s Jigger and Pony is No.9, with creative director and partner Uno Jang being the recipient of this year’s Bartenders’ Bartender Award, while Nutmeg and Clove is No.50. Seoul’s Zest is No.16 with new entry Hope and Sesame, the first bar from Guangzhou to feature at No.29. The winner of the Best Cocktail Menu Award is Penang’s Backdoor Bodega.

Mimi Kakushi in Dubai (No.36) was named The Best Bar in the Middle East, while Nairobi’s Hero Bar was crowned The Best Bar in Africa after ranking No.69 on the extended list. This is the first time either accolade has been awarded as part of The World’s 50 Best Bars, having previously been presented as The Best Bar in the Middle East and Africa.

At No.19, Melbourne’s Caretaker’s Cottage retains its title as The Best Bar in Australasia, at No.19, with Sydney’s Maybe Sammy at No.42. The Best Bar Design Award is bestowed upon Sydney’s Tigra + Disco Pantera.

Highlights at a glance:

Bar Leone in Hong Kong ranks No.1 in The World’s 50 Best Bars 2025, the first time this has been awarded to a bar in Asia.

Simone Caporale of Barcelona’s Sips was awarded the Roku Industry Icon Award.

Bar Mauro in Mexico City received the One To Watch Award.

The Cambridge Public House in Paris won the Sustainable Bar Award.

Entering the list at No.25 and winner of the Highest New Entry Award was Bratislava’s Mirror Bar.

Moebius Milano in Milan moved up 31 places to No.7 and claimed the Highest Climber Award.

Baba au Rum in Athens is named Legend Of The List.

New York’s Sip and Guzzle won this year’s Best New Opening Award.

Backdoor Bodega in Penang won the Best Cocktail Menu Award.

The Best Bar Design Award was presented to Tigra + Disco Pantera in Sydney.

Mimi Kakushi is The Best Bar in the Middle East.

Hero Bar is The Best Bar in Africa.

Book lovers are invited to the world of literature and music during the 30th Book Expo Thailand, which kicks off today and runs daily from 10am to 9pm until Oct 19, at Queen Sirikit National Convention Center’s Hall 5-7, LG floor, Ratchadaphisek Road.

Held under the theme “Melody Of Books – Have You Read? Have You Heard It?” by the Publishers and Booksellers Association of Thailand (Pubat), this year’s event features special prices on more than 2 million books, including 2,000 newly-released titles, across over 900 exhibition booths representing 400 publishing houses.

They are divided into six zones — Fiction and Literature; General Books; Old Books; Children’s and Educational Books; Comics and Teen Books; and Non-Book Items and Board Games.

The event is elevated from a traditional book fair into a dynamic space where reading meets rhythm, offering a multi-sensory cultural experience through a line-up of over 100 curated programmes including exhibitions, seminars and engaging activities.

Among the highlights is the “View ’til Touch” exhibition that takes visitors to explore the connection between books that have become songs and songs that have inspired books. They are invited to listen to musical interpretations of written texts and compose music from books using the AI-based program Suno.

The highly popular Author’s Salon is back with a stage for meaningful and informal dialogue between writers and readers, while the “Read For The Blind” exhibition introduces mobile applications designed for the blind. Interested visitors can record their own voice as part of an audio-book production experience.

Presented for the first time at the book expo is Chao Khun Thong And Friends, a special performance that combines live music with puppet theatre. It will be staged on Saturdays and Sundays, and on Oct 13. There are also puppet-making workshops and voice acting lessons for aspiring young performers.

A reading zone called Hiroba: The Picture Book Playground, is also open to everyone to sit, read and enjoy picture books in a relaxed atmosphere. Children and families can enjoy storytelling sessions and simple crafts, free of charge.

Also, the event features the debut of three major national competitions designed to elevate the culture of reading. The National Debate Competition is open to secondary school students to show off their critical thinking and public speaking on Oct 13 at noon.

The National Storytelling Competition will see finalists from seven regional book fairs compete to be crowned as the country’s most outstanding storyteller on Oct 14 and 16 at 10am, while the Songwriting Contest will highlight the winning song used to promote this year’s expo.

The Toronto Blue Jays beat the New York Yankees 5-2 on Wednesday to send the Yankees packing in the Major League Baseball playoffs, as the Cubs and Tigers stayed alive.

Toronto won the-best-of-five American League division series 3-1 to advance to the American League Championship Series for the first time since 2016.

They’ll face either the Seattle Mariners or Detroit Tigers for a place in the World Series.

Detroit downed the Seattle Mariners 9-3 to level their American League series at two games apiece.

The Chicago Cubs edged the Milwaukee Brewers 4-3 to pull within 2-1 in their National League division series.

The reigning World Series champion Los Angeles Dodgers were vying for a series sweep when they hosted the Phillies later Wednesday after taking the first two games of their National League series in Philadelphia.

The Yankees, winners of 27 World Series titles, had rallied from five runs down to fend off elimination on Tuesday, but they couldn’t find another win against the Blue Jays – who had pipped them to the American League East division title.

Vladimir Guerrero Jr singled in a run to put Toronto on the board in the first inning.

Ryan McMahon pulled New York level with a home run in the third, but the Blue Jays inched back in front with a run in the fifth on George Springer’s sacrifice fly after Ernie Clement and Andres Gimenez led off the inning with singles.

Nathan Lukes gave the Blue Jays a bit of breathing room with a two-run single up the middle off Yankees reliever Devin Williams with two outs in the seventh that pushed Toronto’s lead to 4-1.

The Blue Jays added one run in the eighth and survived a bases-loaded jam in the bottom of the inning, the Yankees plating one run in the ninth before Toronto closed it out.

The Yankees, who fell to the Los Angeles Dodgers in the World Series last year, haven’t lifted the crown since 2009.

‘We believe’

In Detroit, Riley Greene and Javier Baez both homered in a four-run sixth inning as the Tigers rallied to beat the Mariners.

Gleyber Torres added a home run in the seventh inning for the Tigers, who fended off elimination in a series that now heads to Seattle for a decisive game five on Friday.

‘We believe,’ Greene said. ‘We’re never out of the game no matter what and we always believe in ourselves.’

National League top seeds Milwaukee made a promising start in Chicago with a run in the top of the first.

But Michael Busch’s leadoff homer ignited a four-run Cubs first inning and Chicago held on.

‘I thought we were just locked in from the beginning,’ Busch said. ‘They happened to give us four runs to win it, but I thought right off the bat, all nine of us kind of gave really good at-bats.’

Brewers first baseman Jake Bauers drove in a run with a single in the fourth inning and homered in the seventh to make it a one-run game.

But the Brewers left the bases loaded in the eighth as Cubs pitcher Brad Keller struck out Bauers to end the inning.

Keller retired three straight in the ninth for the four-out save and the Cubs will host game four at Wrigley Field on Thursday aiming to level the series.

The Internal Security Operations Command (Isoc) has condemned the recent spate of violence in the southern border provinces, vowing justice for the perpetrators and any collaborators.

Isoc spokesman Maj Gen Thammanoon Maisonti said yesterday that coordinated attacks had taken place in several areas of Yala, Pattani and Narathiwat provinces.

The incidents involved bombings, arson targeting CCTV cameras, and the torching of a passenger van, acts that appeared aimed at spreading fear among local residents and undermining public confidence in regional stability. No casualties were reported.

Lt Gen Narathip Phoaynok, commander of the Fourth Army Region and director of Isoc Region 4 Forward Command, responded by ordering security forces — including police, military and civilian agencies — to tighten control, collect forensic evidence and track down the perpetrators. Security has been stepped up to protect communities and prevent further attacks.

The attacks were likely carried out by a small group of ill-intentioned individuals seeking to sow division and disrupt the area’s multi-ethnic harmony, said Maj Gen Thammanoon, adding the timing coincided with preparations for the traditional Chak Phra festival, an important Buddhist celebration that brings together diverse communities and stimulates the local economy.

Yadea Technology (Thailand), a subsidiary of Chinese electric two-wheeler producer Yadea Global, is expanding its investment in Thailand as it aims to become a hub of electric motorcycle production in Southeast Asia.

The move came after the company was granted investment incentives from the Board of Investment.

The board declined to unveil the investment budget of Yadea Technology (Thailand).

“We want Thailand to be an electric motorcycle hub in Southeast Asia, with annual production capacity of 500,000 units,” said chief executive Jack Yang.

The company aims to increase capacity to 600,000 units between 2025 and 2027.

“We produce electric motorcycles from a smart assembly plant, which is like our ‘super factory’ in China,” said Mr Yang, adding the facilities are equipped with technology to enhance production efficiency.

Yadea’s factory, which is located in Samut Prakan’s Bang Sao Thong district, employs more than 500 workers, mostly Thais.

The company believes its electric motorcycle business has good prospects in Thailand thanks to an adequate production facility and a network of motorcycle dealers in 70 areas countrywide, he said.

Last year, Yadea opened three flagship stores here, marking the company’s entry into the Thai electric two-wheeler market since its establishment in 2001 in China.

The three stores, two located in Pathum Thani’s commercial area and the other located in a shopping area in Chon Buri, play an important role in introducing the brand to prospective customers.

Bangkok’s well-heeled and wellness-inclined urban crowd are increasingly meeting up at padel courts and setting alarms for exclusive 4am-run clubs.

Instead of making post-work plans at the nearest rooftop bar, more millennials and Gen Z are heading to Padthai Padel, a ‘lifestyle destination’ in the heart of Bangkok where people go to play but also partake in some serious people-watching and showcase athleisure gear.

Sports are no longer just about playing sports. They have evolved into social scenes and communities that are interested in meeting people, buying merch and investing in the latest ‘fit’. You have to dress well to at least feel like you are playing well.

Sports like padel are the new happy hour and are quickly replacing espresso martinis on a Thursday evening. Courts get booked up quickly, much like we once fretted over dinner reservations.

For the uninitiated, padel is a racquet sport usually played as doubles on a small, closed court.

The sport caught on quickly. Having risen to meteoric popularity in cities such as Miami, New York City, Milan and Dubai, it was actually born in Mexico and popularized in Spain and Argentina. Within just a year, we started seeing friends and friends of friends pop up at padel courts across town, even those who claimed to be non-athletic and rarely participated in group sports.

‘Tennis is hard to master, but with padel you feel very athletic very quickly,’ said a 33-year-old padel enthusiast who regularly holds court at Padthai Padel. ‘Amateurs are suddenly feeling like pros and taking it very seriously.’

While golf remains wildly popular and social, and even more so with the younger generation of Thais following the rise of night golf, it takes up significant amounts of time, requires a certain degree of commitment and demands a certain degree of skill, especially when playing together as a group. A typical game of casual padel is fast, and you can be on your way to dinner in just an hour.

‘Padel has taken off with those who missed the post-covid golf train,’ remarked another Bangkokian who frequently appears on the court. ‘It also gives Instagrammers a cultish wellness activity to post about; cute outfits and fancy courts.’

It’s a whole vibe, so to speak. Padel courts are making their way into wellness establishments and leisure destinations, and courts need to offer perks such as craft beer, natural wine and trendy collabs.

The aesthetics are right for this generation, too, and to join is to feel like you are a part of the movement. It leaves those on the sidelines thinking, ‘Wait, are all our friends playing without us?’ But beyond the hype, the glossy Instagram images and the Alo-sponsored events in Bangkok, there is a real appetite here for social communities, and the sleek facilities don’t hurt either.

We are seeing the same kind of appetite for run clubs. Before you chuckle at the cultish nature of it all, there is no denying that Bangkok’s urban set is determined to get fit and to expand their network while doing so. With the rise of highly coveted run clubs like Sabai Run Club and Cruise Control, more people are embracing the idea of putting on running shoes before the sun comes up. These clubs are attracting people with their sociable, relaxed atmosphere, free from strict gatekeeping.

Sabai’s tagline on Instagram is ‘We run a little and socialise a lot,’ which is the exact amount of athleticism that many people desire, especially with the added allure of coffee stops and the occasional sunrise rooftop party at 4.30am.

“To get hundreds of people to wake up at 3.30 a.m. to join a 4 a.m. run is incredible influence. I can barely get friends to go to coffee with me before 11!” Says a 30 year Thai entrepreneur.

All in all, there is a social shift in how the new generation is choosing to sweat. Several years ago, it may have been the high-adrenaline spin class or boutique boxing gyms. Whatever the activity, these new social sports highlight how interaction and community matter more than ever these days.

The Bank of Thailand claims it has not observed deflation in the Thai economy, even as it lowered its inflation forecast for this year to 0%, driven by declines in energy and fresh food prices.

Speaking after the Monetary Policy Committee’s (MPC) meeting on Wednesday, committee secretary Sakkapop Panyanukul said the Thai economy shows no indication of entering a deflationary phase. He said deflationary risks remain low as most goods and services continue to see stable or rising prices.

“Price increases have not been broad-based, occurring mainly in energy and raw food items. Despite tighter financial conditions in the business sector due to slower bank loan growth, there are still no signs of deflationary risk,” he said.

Mr Sakkapop said the central bank will continue to monitor goods and services prices to assess potential deflation risks going forward.

The MPC lowered its headline inflation forecast on Wednesday to 0% for 2025, down from a previous outlook of 0.5%, and expects inflation of 0.5% in 2026. The inflation rate is projected to gradually return to the target range of 1-3% by early 2027.

The lower inflation outlook is mainly driven by supply-side factors, including falling global crude oil prices, government measures to reduce domestic retail fuel prices, and lower raw food prices following favourable weather conditions that increased supply, he said.

Meanwhile, core inflation is expected to remain steady at 0.9% in both 2025 and 2026, while medium-term inflation expectations among the private sector remain well-anchored within the central bank’s target range.

In addition, the MPC cut Thailand’s GDP growth forecast for this year to 2.2%, down from 2.3%, and lowered the 2026 projection to 1.6% from 1.7%, citing slower growth momentum in the third quarter and the impact of US tariffs on Thai exports.

However, Mr Sakkapop said the actual impact of US tariffs on Thai exports has been less severe than anticipated.

The MPC projects exports to grow by 10% this year before contracting by 1% in 2026. Under this scenario, the central bank plans to maintain an accommodative monetary policy stance throughout 2026.

The panel also voted 5-2 at the meeting to maintain the policy rate at 1.50%. Two members voted to reduce the rate by 0.25 percentage points to 1.25%, arguing a more accommodative policy would better support economic recovery, ensure favourable financial conditions, and ease debt burdens for small and medium-sized enterprises and vulnerable households.

The Bank of Thailand’s policy rate remains the third-lowest in the world, behind only Switzerland and Japan.

AS EXPECTED

Nuttaporn Triratanasirikul, deputy managing director of Kasikorn Research Center (K-Research), said the MPC’s decision aligned with its forecast as economic conditions have not significantly diverged from the central bank’s earlier assessment.

She said the new government’s stimulus measures are expected to bolster economic growth in the final quarter, which was previously forecast to remain relatively flat year-on-year with exports contracting following the US tariff measures.

“Considering the impact of the government’s stimulus, the likelihood of a technical recession in the last quarter is very low,” Ms Nuttaporn told the Bangkok Post.

She said Kasikornbank maintains its projection for a Thai policy rate trim in December, down to 1.25% by year-end.

“However, if the stimulus package substantially lifts GDP growth in the final quarter, the MPC may opt to keep the rate unchanged at its December meeting,” said Ms Nuttaporn.

K-Research projects another Thai interest rate reduction in the first half of 2026, as overseas shipments are expected to feel the full-year impact of US tariffs, including sector-specific duties on products such as semiconductors and pharmaceuticals, she said.

Veeravat Virochpoka, head of research at FSS International Investment Advisory Securities, said after three consecutive rate cuts, the Bank of Thailand likely believes it can manage economic conditions at the existing rate.

Given the expected slowdown in the global economy in the fourth quarter and early 2026, the central bank may be reserving its policy space for a potential rate cut in December, said Mr Veeravat.

SET-listed Central Pattana Plc (CPN), a leading Thai real estate developer, has announced the launch of “The Central Phaholyothin” — a 21-billion-baht flagship megaproject.

Positioned as “The Landmark of Northern Bangkok”, the project is situated between Vibhavadi Rangsit Road and Phahon Yothin Road and can be accessed from both roads.

It will span 49 rai and feature a total gross building area of 457,409 square metres.

The project includes a world-class Convention Hall measuring 6,700 sq m, designed to host international concerts and global-scale events. The project is scheduled for completion in the fourth quarter of 2026, according to CPN.

Chanavat Uahwatanasakul, president of retail and development at CPN, said the Ladprao-Phahon Yothin area has grown rapidly, and this project will unlock the full potential of the area and elevate it into becoming Bangkok’s next central business district.

Mr Chanavat said the company is also considering further development of the project, such as hotel or residential components.

Prospects for expansion

Nattakit Tangpoonsinthana, CPN’s chief marketing officer, pointed to the business potential of the area and its surroundings.

The nearby Phahon Yothin station of the MRT Blue Line attracts an average of 15,600 passengers a day, while the Ha Yaek Lat Phrao and Phahon Yothin 24 stations of the BTS Green Line carry around 35,100 passengers a day, CPN notes.

The area connects directly to Don Mueang International Airport, which handles about 30 million passengers a year, drawing both Thai and international visitors into the Ladprao-Phahon Yothin zone, Mr Nattakit said.

He added that the catchment area of the zone exceeds 2.5 million. CPN discovered that the local wealth segment’s purchasing power is 2.3 times higher than the Bangkok average; sales per GLA outperforms other city malls by 45%, and visitor frequency is 2.19 times higher than the Bangkok average.

Isareit Chirathivat, CPN’s head of leasing – fashion and luxury, said the area is surrounded by mid-to high-end residences, offices, hotels and educational institutions.

He added that there are currently 472 residential projects surrounding the site. There are 52 office buildings nearby, including 15 Grade A office buildings, reflecting the area’s strong positioning as Bangkok’s future workplace hub. The quality neighbourhood also features 51 schools, including six international schools, nine universities, and 41 hotels, underscoring its premium quality of life.

Dramatic design and features

Juthatham Chirathivat, head of business development at CPN, said the project’s design will be a curated community for new-generation urbanites and multi-generation families.

The landscape design, inspired by the idea of a ‘hug’, evokes warmth and a sense of closeness to nature.

The architecture follows a ‘Collective Rhythms’ concept, embracing diverse design expressions that bring vibrancy and character to every space, with smiles subtly embedded in each design element.

The project features highlights such as the Central Stage, connecting international cuisine on the upper floor with street food below; the Market Hall, a dynamic zone hosting pop-up food events; and the Fashion Playlist, featuring curated fashion houses and street remixes showcasing new-age sports fashion.

The Ascott Limited Thailand, the wholly owned lodging business unit of Singapore-based CapitaLand Investment, expects revenue, occupancy and room rates to recover in 2026, with plans to diversify into resort destinations such as Phuket and secure a management contract in Hat Yai.

Kanit Sangmookda, Ascott’s country general manager for Thailand and Laos, said the company is targeting 7% revenue growth, 5% occupancy growth, and a 1% gain in the average daily rate (ADR) next year.

“This year has been challenging as the hotel sector in Thailand remains weak, affected by slower arrivals,” he said. “Our 2025 performance may dip from 2024, which was a peak year for the tourism industry, but we expect a rebound to 2024 levels next year.”

In the first nine months of 2025, the company recorded an average occupancy rate of around 70%, led by Vientiane with 80%, followed by Pattaya and Si Racha, which both achieved 70%, and Bangkok with 68%.

While Somerset Vientiane was supported by long-stay guests, occupancy rates in Thailand declined significantly as demand softened, making it difficult for the company and other hotels to raise their ADR.

“Currency has affected demand, making Thailand less affordable compared with destinations such as Vietnam,” Mr Kanit said.

“However, we have seen a strong rebound this month, with performance matching or even exceeding 2024 levels. This momentum is expected to continue into the first quarter of 2026.”

He said although Chinese tourist arrivals have slowed this year, the nation remains a key contributor, ranking as Ascott’s second-largest source market for the first nine months, accounting for 17%, behind Japan at 20%.

Thailand ranked third at 9%, followed by South Korea, the US, Taiwan and Australia, with each of these markets accounting for 4%.

Corporate long-stay guests remain a core segment, representing 23%, while corporate short-stay accounted for 11%.

Online travel agencies contributed 36% and Ascott’s own reservation channels accounted for 6%.

To achieve growth next year, Ascott plans to diversify its portfolio by expanding into resort destinations, moving beyond its traditional focus on city locations. Phuket is the company’s first resort destination.

Ascott expects to manage Abov Patong Phuket Resort, a new 200-room hotel and branded residence project scheduled to open in the second quarter of 2027.

The company is also considering expansion to the beachfront in Pattaya, Samui and Hua Hin.

“Our properties are mainly located in cities — even in Chon Buri, they are in Si Racha near business hubs, while in Pattaya they are not on the beachfront as most of our guests are business travellers,” said Mr Kanit.

“However, we are expanding into leisure destinations to offer our members more variety.”

This month, Ascott is scheduled to sign a management contract for a new hotel in Hat Yai under the Oakwood brand, slated to begin next year.