Hotel Market Report: Asia’s Path Forward in 2024

HotStats | December 15, 2023

By Tareq Bagaeen   Earlier this week I was talking to a regional commercial head of Asia for one of the world’s largest hotel chains and the view forward into 2024 is one of concern, to say the least. At the moment, the hotel benchmarking data look goods; for many destinations within this region, 2023 was a record year both in terms of topline revenue as well as Gross Operating Profit (GOP). Expectations are significant for the coming year; thus, the higher than usual level of apprehension. Let us start with the GOP king of Asia, and, all the world: Maldives. A destination that has a GOP figure of just under 300 USD per...