Hyatt Regency Bangkok Sukhumvit is scheduled to open its doors in the third quarter of 2018 to capitalise on the explosion of leisure and business travellers during that period.

Hyatt Regency Bangkok Sukhumvit is scheduled to open its doors in the third quarter of 2018.

Sammy Carolus, general manager for the new hotel, said the property will be the first Hyatt Regency hotel in Bangkok, joining sister establishments Grand Hyatt Erawan Bangkok, Park Hyatt Bangkok and Hyatt Place Bangkok Sukhumvit.

The property is being developed by Grand Asset Hotels and Property Plc, and is centrally situated on Sukhumvit Road near Nana BTS station.

The 273-room hotel will cater to both leisure and business travellers, and will feature a daylight ballroom, multi-purpose meeting rooms and a botanical garden.

"The tourism business in Bangkok will continue growing. The average occupancy rate will be about 85% this year, and in the Sukhumvit area it will be close to 90%," said Mr Carolus.

Give these numbers, industry insiders speculate average daily room rates for hotels in Bangkok will remain among the lowest in Southeast Asia.

Tourism authorities are also recalibrating their strategic direction, focusing on quality rather than the quantity of tourists.

Mr Carolus said the new hotel aims to have a 70% occupancy rate in the first 12 months of operations, increasing to 80-85%, similar to other hotels in the Sukhumvit area.

Carolus: Tourism is booming

"This hotel is targeting mainly intra-Asian markets, the US, Australia and the Middle East," he said.

Hyatt Regency Bangkok Sukhumvit will compete with existing players like Sofitel, Westin Grand, Landmark, Hilton and Radisson Blue.

Mr Carolus said Hyatt is continuing to seek opportunities to open more hotels in Thailand.

The group is eyeing Rayong, Pattaya and Koh Samui for its next locations.

Having hotels in Rayong and Pattaya will help the group take advantage of the government's Eastern Economic Corridor megaproject, he said.

Hyatt operates the Hyatt Regency and Hyatt Place in Phuket, as well as Hyatt Regency Hua Hin.