The windows were smashed and they tried to drag people out, says Sreekanth Kolamala, a tourist from India, who witnessed the rescue operation.
Several injured have been taken to hospital, according to the police. At least seven people are involved, two of them Thai and five foreigners.
The Ministry for Foreign Affairs has no knowledge of any Swedes being among the injured or deceased.
"The embassy in Bangkok is monitoring the situation and is in contact with the Thai authorities", writes the Ministry for Foreign Affairs' press service to TT.
The fire broke out on Sunday evening at the six-story and centrally located Ember hotel, which according to the police is popular among backpackers.
The fire started on the fifth floor and could eventually be extinguished. There were 75 people staying at the hotel when it started burning.
The cause of the fire is being investigated.
The area where the hotel is located, the Khao San Road area, is known for its nightlife. Around 20,000 people are expected to gather there on Tuesday for New Year's celebrations. Sanga Ruangwattanakul, head of the local business association in the area, says that the festivities will take place despite the fire.
There is no need to worry, we have had meetings at the police station and over 150 police officers and other personnel will patrol Khao San Road and ensure that the area is safe.