Thailand’s Luxury Hotel Boom Has a Catch: Nobody Wants to Sell
Photo Credit: Dusit Thani Bangkok. Dusit International
Skift Take
Luxury hotel assets in Thailand are becoming increasingly scarce as investor demand outpaces supply. The imbalance is driving competition for trophy properties and attracting more private wealth.
Thailand’s luxury hotel market has a supply problem, not a demand problem.
Investors are competing for a limited pool of assets as long-term owners hold onto trophy properties, creating a tight luxury hotel investment market, Xander Nijnens, head of hotels advisory and asset management, Asia Pacific at JLL Hotels, told Skift.
Thailand recorded THB 2.2 billion ($66 million) in luxury hotel transactions in 2025, according to new research from JLL. Yet the modest deal volume masks a market where investor appetite far exceeds the number of properties available for sale.
“Luxury hotel assets are tightly held and rarely sold,” Nijnens said.
Since 2017, luxury hotels have represented 19.2% of Thailand's total hotel sales volume by value, but accounted for just 7.9% of transactions. According to JLL, the gap reflects a shortage of available assets rather than a lack of buyers.
“Investor appetite significantly exceeds hotels availabl
