Asia Pacific ViewPoint - Hotel Megatrends - The Impact of Chinese Outbound Tourists And Shared Accommodation on The Regional Hospitality Industry
- The Asia Pacific hotel sector has boomed in recent years, supported by a growing middle class and rising household incomes, which are enabling more people to take holidays overseas. Much of this growth is being driven by tourists from China.
- While Chinese tourists only spend a small proportion of their overall budget on accommodation, CBRE Research believes there is significant room for growth. Hoteliers must ensure they provide a service offering that meets the requirements of this increasingly important demographic.
- At the same time, the growth of shared accommodation and its capacity to offer consumers lower prices and a unique experience in often unconventional accommodation is prompting traditional hotel operators to rethink their operating models.
- This ViewPoint by CBRE Research Asia Pacific analyses these two megatrends currently reshaping the regional hospitality industry and provides recommendations for hotel operators on how best to respond.