Thailand has a massive tourist industry with millions of people flocking to the Land of Smile each year to enjoy the fantastic destinations throughout the country. Because of this, may people look to latch on to the tourist industry and create businesses such as hotels and tour companies to cater to this enormous market. If you are thinking of setting up a hotel in Thailand and want more information on the subject, below are some things that you will need to consider carefully before going ahead with your investment.
Owning A Company & Property
If you are a foreign national, then there are limitations in Thailand on owning properties and businesses. As a foreigner, you are not allowed to own land in Thailand, but you can register the property in the name of your business. However, as a foreigner, you are only allowed to own 49% of the company, so you must have a Thai national as a partner that you trust implicitly.
Getting Help To Run The Business
There is a lot to running a hotel that most novice owners are not aware of until they start, so it is within your interest to do plenty of research and also potentially use the services of a company to assist you in the daily running of your operation. With so many hotels in Thailand, when you are looking for a hotel management company, Thailand has plenty of options from which you can choose, with many reputable and reliable companies in the industry.
Standing Out From The Crowd
When you are entering such a crowded marketplace, you will want to do your best to try and stand out from your competitors. You may look to cater to a specific market demographic, such as bird watchers or water sports enthusiasts, which can help you target a niche market and stand yourself out from your competitors.
Do Not Scrimp On Your Marketing
Even though you may be registering on platforms such as Booking.com or Agoda, you will still want to have a marketing campaign to increase brand awareness and sales. You can often make more money when customers come to your website directly, meaning you do not have to pay a commission for bookings and referrals. There is a lot that you can do yourself with your marketing your hotel if you have the time and experience. However, if you do not have the time or expertise, you can benefit massively from using the services of a reputable digital marketing agency to help you with this task.