Hospitality Vision - Asia Pacific Performance Review
Now that the worst recession since the great Depression appears to be coming to an end in a number of countries, the aftermath and side effects will become evident, continuing to challenge us in all facets of business. For the hotel industry, an important unanswered question is – have we hit the bottom? Since the announcement of Q2 GDP showing growth in some major world economies, drops in hotel performance have marginally eased in some parts of the world including Asia Pacific. However, it is too early to rule out another dip in performance.
Regardless of whether the bottom has been hit or not, Asia Pacific is well placed entering the economic recovery. Some of the world’s fastest growing economies are in Asia Pacific and with a strong correlation between hotel and economic performance, the hotel industry is bound to benefit. In addition, intra-regional tourism should rebound faster than international demand and, with over half of the world’s population living in Asia Pacific, travel demand should return quicker here than in regions that rely more on international tourism.
In this publication, titled “Hospitality Vision - Asia Pacific Performance Review” we review the top-performing and worst-performing markets in Asia Pacific.