Hoteliers are responding to gloomy economic forecasts this year by doubling down on best practices and sustainable business strategies.
Suphajee Suthumpun, group chief executive of Dusit International, said a good foundation, well-prepared business models and solid strategies will help operators maintain their positions in the industry no matter what happens this year.
There are no standalone industries anymore, so operators have to think beyond their industry to bring value to customer experiences, such as finding new partners or connecting through online travel agencies (OTAs) to build brand awareness, said Mrs Suphajee.
In 2020, economic and tourism stimulus plans from the government -- whether short, medium or long-term -- are still crucial to boost the economy.
She said the Taste, Shop, Spend scheme will encourage more Thais to use digital technology, while the government can use the data from earlier stimulus schemes to provide more effective measures in the future.
The economic outlook in 2020 is expected to pick up from last year, as the government's annual budget expenditure will be fully available to help develop the country from January, said Ronnachit Mahattanapreut, senior vice-president for finance and administration of Central Plaza Hotel.
The government should work to control the strong baht, which has become a major pain point for Thai tourism and export sectors, he said.
If the strong baht is tamed, an increase in tourists from China and India is possible as Mr Ronnachit sees Thailand as a preferred destination for Asian tourists.
Naowarat Arunkong, cluster general manager of Avani Sukhumvit Bangkok and Avani Khon Kaen Hotel and Convention Centre, said hoteliers have to actively seek new markets such as Mice (meetings, incentives, conventions and exhibitions) travellers to have more opportunities to stand out among heated competition.
She said tourists who travel for leisure might slow down this year, but business travellers for meetings will continue to contribute to arrivals in Thailand, which is a preferred Mice destination in the region thanks to the readiness of hotel facilities and plentiful tourism destinations.
Sanya Saengboon, managing director and general manager of Al Meroz Hotel, the leading Halal hotel in Bangkok, said Muslim visitors are another growing niche market for operators to tap into, particularly quality tourists who travel in groups or with family.
He said the Muslim market will continue to grow this year even though economic stagnation and the strong baht may make them a little bit more price-conscious.
According to statistics from the Pew Research Centre, the world's Muslim population is expected to increase by 35% to 2.2 billion by 2030 from 1.6 billion in 2010 and some 60% will inhabit the Asia-Pacific region.
Thailand ranked second in the top 10 preferred destinations for Muslim travel among countries outside of the Organisation of Islamic Cooperation in the Global Muslim Travel Index 2019 by Mastercard and CrescentRating.
