Singapore-based Banyan Tree Holdings says its business has not been adversely affected by the unrest in Thailand with its overall revenue up by 10 percent in 2008.

“Overall for 2008, our hotels outside of Thailand have maintained a robust booking pace, with an increase of 10 percent in revenue compared to the same period last year. This is primarily driven by a higher average daily rate and new inventory in Morocco, Maldives, Lijiang, Dubai and Sanya,” a Banyan Tree spokesperson says.

It also says it has begun looking at other markets.
 
“In Singapore, we have collaborated with key tour operator and airline partner to launch an attractive all-inclusive package to Banyan Tree Phuket. The bookings have compensated for the fall in European visitors and boosted our revenue over the peak season. We are delighted that overall that Banyan Tree Phuket continues to enjoy one of the highest revenue months for the year,” the spokesperson says.

Still, Banyan Tree is giving away 1,000 complimentary room nights at Banyan Tree Bangkok and Banyan Tree Phuket to help lure tourists back to Thailand.

The promotion is done in collaboration with the Tourism Authority of Thailand whereby guests will get one free night’s stay with a minimum of one paid night’s stay for online bookings made from 8 to 31 January. 

Thailand’s tourism driven economy, coupled with the global economic downturn, took a beating in November and December last year when political clashes between the Thai government and People’s Alliance for Democracy (PAD) led to a week-long closure of Bangkok’s Suvarnabhumi International Airport and left more than 300,000 tourists stranded.

This further sparked a drop in tourist arrivals, especially during its peak season in November and December.

This could have a significant impact on Banyan Tree’s revenue as its business in Thailand contribute about 70 percent to its group revenue.

source : www.property-report.com