Suvarnabhumi Airport Hotel Company Limited, the owner of Novotel Bangkok Suvarnabhumi Airport Hotel, hopes its revenue will reach 1 billion baht, with expected profit of 150 million baht, by 2017 thanks to government and private sector support.
Integrated work with related organisations and support from the Transport Ministry is expected to enhance the hotel's performance after suffering losses since it opened in 2007.
The company is under the supervision of state enterprise Airports of Thailand Plc.
Chaiwat Uthaiwan, chairman of the board, said the hotel had fared poorly over the past few years.
It is now recuperating due to support from Transport Minister Air Chief Marshal Prachin Jantong, who encouraged nearby government agencies and state enterprises to use the hotel's function rooms for meetings and seminars.
The company forecasts income in 2015 will grow to 874 million baht and profit of 105 million baht, compared with revenue of 845 million baht and profit of 50 million baht this year.
The average occupancy rate should be around 76% next year, slightly down from 77% this year.
Revenue per available room rate should increase to 3,000 baht next year, up from the current 2,800 baht.
"The political unrest in the first half of this year drove our hotel revenue and profit as many tourists chose to stay near Suvarnabhumi airport in order to comfortably travel to other destinations instead of staying in downtown Bangkok," Mr Chaiwat said.
Mr Chaiwat is confident that the hotel will receive support from the Thai Chamber of Commerce, the Board of Trade of Thailand and the Federation of Thai Industries. They will help boost the hotel's food and beverage income, which accounts 20% of total revenue.
Novotel Bangkok Suvarnbhumi Airport Hotel aims to be an international hotel for meetings and seminars and as such will open four more function rooms, bringing the total number of function rooms to 12 by the end of this year.