Thailand hopes on luxury travel, long stays to improve tourism recovery

Thailand’s Asset World Corporation Pcl (AWC) said on Monday it expects luxury travel to be one of the first sectors to recover as the country’s tourism sector revives, confirming plans to double its number of hotel rooms to 10,000 by 2026.

AWC would also continue its five-year investment plan of 100 billion baht ($3.04 billion), Chief Executive Wallapa Traisorat said in an interview, while noting some smaller projects had been pushed back.

Wallapa announced on Monday plans for a 3.4 billion baht “wellness resort” in Bangkok covering 1.28 hectares (3.16 acres) of riverfront, including hotels, branded residences and spas.