Summary · why it matters
The Tourism Authority of Thailand revealed that from 1 January to 15 August 2026, cumulative foreign tourist arrivals exceeded 19 million, generating revenue of 957.618 billion baht. The top five source markets were China with 3.33 million visitors, Malaysia with 2.50 million, India with 1.46 million, Russia with 1.14 million, and South Korea with 729,000. For the second half of 2026, the public and private sectors will host world-class events such as the IMF–World Bank Annual Meetings 2026 in Bangkok from 12 to 18 October 2026, with participants from 191 countries, as well as Tomorrowland Thailand and Wonderfruit 2026 in Pattaya, Chonburi province, which are expected to draw large numbers of international attendees. Traditional events such as Loy Krathong and countdown celebrations will also be held across many areas nationwide. For the 2027 target, the Tourism Authority of Thailand aims for foreign tourist arrivals to grow by no less than 5% from 2026, when arrivals are expected to reach 33 million, while spreading tourists to primary and secondary cities in a 60 to 40 ratio and pushing the loyalty index into the top three in Asia. Central Plaza Hotel Public Company Limited, or CENTEL, expects group-wide RevPAR in the third quarter of 2026 to rise 3 to 5% year on year, with the fourth quarter of 2026 continuing to improve, as advance bookings for October 2026 are higher than the same period last year. For 2026, the company expects an occupancy rate of 70 to 75%, RevPAR of 4,200 to 4,400 baht, and total joint venture revenue growth of 3 to 5%, or 14.2 to 14.5 billion baht. The Erawan Group Public Company Limited, or ERW, assesses that its business in the second half of 2026 will grow better than the first half thanks to the high season and national events that stimulate travel, while maintaining its 2026 total revenue growth target of 9% year on year, split between 7% growth in the luxury-to-economy hotel segment and 14% growth in the budget segment, or HOP INN. Analysts at Yuanta Securities Thailand expect third-quarter 2026 performance to recover from the second quarter of 2026 and beat the same period last year despite the low season, with momentum continuing into the fourth quarter of 2026 as the high season begins. They also expect government stimulus measures such as the Rao Tiew Duay Kan or Kon La Khrueng schemes, which the Ministry of Tourism and Sports is expected to propose to the cabinet in time for the year-end high season. Analysts continue to recommend stock selection on a company-by-company basis, advising investors to buy CENTEL because its food business is not heavily affected while its hotel business still shows improving RevPAR, supporting investment opportunities through 2027, and also recommend buying ERW and MINT.
Central Plaza Hotel Public Company Limited
The Erawan Group Public Company Limited
Minor International Public Company Limited