A slowdown in the Thai residential condominium market has encouraged major developers to consider diversifying their portfolio into recurring income sectors such as offices, hotels and serviced apartments.

With stable recurring income, they can offset the volatility in revenues from the residential-for-sale market, with major players such as Ananda Development and Origin Property showing strong interest in the hospitality sector since Thailand welcomed a record 38.27 million tourist arrivals in 2018.

Both have announced plans to develop hotels and serviced apartments in Bangkok and the Eastern Economic Corridor.

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