"The rates are not likely to drop from here." South East Asian hotel economics are changing since countries reopened - or are they? This week, Gary and Hannah discuss the outlook for the hotel sector in South East Asia and Asia Pacific with Jesper Palmqvist, Senior Director, Asia Pacific, at STR CoStar. We discuss the different drivers shaping room rates, occupancies and RevPar, as well as costs, productivity and profits, in cities and coastal areas across the region. Is business travel demand recovering? Will we see an expansion of 'Compression Nights"? Are pre-pandemic seasonality factors still relevant for hotels, or are new factors in play? How is the strength of domestic travel impacting hotel operator bottom lines? Is the gradual return of Chinese group travel likely to impact rates and occupancies in hotspot markets? What are the developmental challenges in second- and third-tier cities? Are sustainability data points playing a stronger role in hotel transactions? And, as governments scale up transport infrastructure investment, what will be the hotel pipeline trends to watch in 2024?
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