As the Thai Bed and Cafe chain plans to expand further in Laos and Thailand, they intend to capitalize on the emerging tourism market, boosted by low-cost carriers.
Koko Global Hospitality which operates Kokotel plans to open two hotels in Laos and Thailand while signing up to manage eight more hotels by the end of the year.
Rei Matsuda, founder, and chief executive of Koko Global Hospitality, said there is still room for mid-scale accommodations to grow as this segment can bank on the tourism recovery and aggressive expansion among low-cost airlines, the Bangkok Post reports.
Kokotel says that its current portfolio of hotels is in Bangkok, Krabi, Phuket, and Chiang Mai, with the best-performing locations being Phuket and Bangkok have a 70-80% occupancy rate during the high season.
Pete Dheva-Aksorn, the owner of Kokotel Bangkok Dheva Thonglor, said that the company plans to secure 100 properties in the next three to five years – 50% under Kokotel and 50% under a new four-star brand called Vivstar.
The company has also stated that it is interested in attracting more guests from China, as a staggering 30% of all Kokotel’s guests in the past have been Chinese citizens.
As tourism bounds back in the Asia-Pacific region, tourism in Laos has also seen an uptick in the number of foreign travelers in the country. With multiple direct flights planned from countries like China and South Korea, tourism authorities anticipate 1.4 million international tourists this year.