
| Hospitality, Hotel, Real Estate |
| Financial Model, Financial Modeling, Free Financial Model Templates, Market Studies, PDF |
Why this study
Thailand drew 32.97 million international tourists in 2025, down 7.2 percent on a softer Chinese recovery — yet Phuket’s luxury resort tier sits more than 30 percent above its 2019 benchmark on rate. The southern resort is now a diversified-demand, rate-and-capture, and increasingly real-estate-led business: Phuket is the world’s largest market for branded leisure residences, and wellness is lifting rate and length of stay across Phuket and Koh Samui. This study decomposes how a modern southern resort captures spend through rooms, wellness, food and beverage, and branded real estate, and how source-market diversification, supply, water, and regulation shape the margin and the value — the things a generic hotel model gets wrong.
What you get
- A 37-page Word and PDF market study with 12 EFM-branded charts and 13 data tables.
- The resort revenue build decomposed — rooms, food and beverage, spa and wellness, and activities — by resort type.
- Branded-residence economics — price premium, rental-pool yield, and how the for-sale component reshapes the return.
- ADR, RevPAR and occupancy benchmarks for Phuket, Koh Samui and Krabi, with offset Andaman and Gulf seasonality.
- A modeler’s base-case assumption set: ADR and occupancy paths, the labor and water cost stack, return ranges, and a scenario envelope.
- Three scenarios to 2031 with explicit RevPAR-growth and arrivals outcomes, including China-recovery and casino optionality.
- A source-verification workbook with every figure cited and checked.
Key findings
- Demand dipped but the resort tier held rate — 32.97 million arrivals in 2025 (down 7.2 percent), yet Phuket recovered to ~96 percent of 2019 passenger volume and posted ADR up 7.8 percent to about 5,652 baht.
- Source-market diversification is the dominant lever — Malaysia overtook China as the top origin in 2025; India, Russia, the Middle East and Europe absorbed the slack.
- Branded residences have reshaped the economics — Phuket is the world’s largest leisure branded-residence market (about 4,267 units, over 2.3 billion US dollars), with a pipeline near 14 billion US dollars.
- Wellness is a high-margin engine — Thailand’s wellness economy is growing near 30 percent a year, turning Phuket and Koh Samui into longevity hubs that lift rate and length of stay.
- Supply, cost and water reward the top of the market — Phuket added about 2,134 rooms in 2025; labor and dry-season water are the binding cost lines; scarce, well-located assets stay advantaged.
Who it’s for
Financial-modeling professionals and analysts (primary); resort developers and private-equity / real-estate investors; operators, asset managers, lenders and valuers; and students of hospitality and tourism real estate.
Methodology
Built from the Tourism Authority of Thailand and the Ministry of Tourism and Sports, the Immigration Bureau, Airports of Thailand, C9 Hotelworks, CBRE and Knight Frank, JLL, Mordor Intelligence and Statista, the Global Wellness Institute, and legal and operator sources. Every claim, statistic, source, and chart was reviewed and verified by the eFinancialModels editorial team. Forward-looking figures for 2026 to 2031 are eFinancialModels Base Case projections and are labeled as such; Koh Samui and Krabi performance figures are eFinancialModels estimates for the leisure tier, identified as such; Thai hospitality-market size estimates diverge by definition and are cited as a range. eFinancialModels uses AI-assisted research and drafting tools alongside human research and editorial review; we do not publish unverified content.
Pair it with a template
Translate the findings into property-level cash flows with the eFinancialModels hotel and real-estate financial model templates (resort operating model, mixed-use branded-residence model, and cap-rate-driven acquisition and valuation):
Real Estate Category
Hotel Category
Disclaimer
For informational and educational purposes only; not investment, financial, legal, or tax advice. Forward-looking statements are subject to material uncertainty. Conduct your own due diligence.
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