Hotel & Tourism SMARTreport #35

Hotel & Tourism
SMARTreport #35
2017 Summer Edition 29
HOTELIERS IN ASIA
from top analysts
Vietnam among others) are also stimulating
global travel demand.
Hotels are consequently seeing the benefits
of this boom in tourism on the continent.
In his report for the First Quarter 2017,
international consulting cabinet Colliers
analyses that hotels’ RevPAR growth in
the region is closely correlated to that
of economic performance and will then
stimulate intra-regional and domestic
tourism to destinations.
On average, in 2017, Colliers expects
RevPAR growth to continue to be impacted
by foreign currencies movements, the
further evolution of low cost carriers (LCC)
and the destinations they serve, together
with economic performance and consumer
confidence in key source markets.
The Chinese hotel market has witnessed
exponential growth in recent years and
changed to become more sophisticated,
especially as local owners secure
investments in international operators. After
growing mostly in Chinese metropolises,
international upscale hotels but also
international budget/middle class properties
are spreading into regional primary and
secondary destinations. Among cities
enjoying a surge in international chains
are Chengdu, Chongqing, Hangzhou,
Kunming, Shenzhen, Tianjing, Wuhan,
Xiamen or Xian.
PHNOM PENH
PHUKET
In Southeast Asia,
Colliers identifies
Phnom Penh and
Phuket as attractive
destinations for
investors while the
market in Singapore
remains difficult
despite almost full
occupancy.
The Cambodian
capital is expecting
a flux of new
international
hotel projects
as restriction on
King Norodom statue and
two stupas, Royal Palace,
Phnom Penh, Cambodia
ownership has been
overhauled while
“more transparent”
rules have been
now guaranteed
towards overseas
investors. Large
international events
such as the hosting
of the Southeast
Asian Games in
2023 are boosting
the development
of international
properties
© Marcin Konsek
Phuket is now in full swing
as demand increased strongly
after years of political
turmoil in Thailand. Phuket
witnessed a total number of
9.3 million tourists arrivals
who generated 40.8 million
nights. RevPAR has decreased
on average by 3.8% between
2012 and 2015, mainly due
to the downturn in 2014,
in conjunction with a strong
increase in room supply.
However, recovery was in full
swing in 2016 with RevPar
up by 4%. This is due to
the return of Chinese and
Russian travellers as well
as the introduction of new
intercontinental and regional
flights.
According to Hotel
Consultant Bill Barnett, based
in Phuket, “the industry is
continuing to attract new
developments with more
brand affiliated properties.
A total of 5,584 keys are
expected to come on stream
by 2020.” Among brand
hotels planned over the next
three years in the island are
Courtyard by Marriott, Hilton,
Indigo, Intercontinental,
Kempinski, Mövenpick, Park
Hyatt, Radisson, Ramada and
Sheraton
The temple of Wat
Chalong, Phuket,
Thailand
© Pekka Oilinki