asia pacific
Market Snapshot: Asia Pacific 2024
Hok Yean CHEE | October 9, 2024
In 2023, hotel transaction volume in the Asia Pacific recorded approximately USD11.7 billion, a 12% decrease from USD13.3 billion from the previous year. The decline in transaction activity can be attributed to the high interest environment, buyer and seller price expectation gap, and a lack of suitable or available hospitality assets in the market. Australasia (Australia and New Zealand), as well as Southeast Asia, observed decreases of 20% and 56% in transaction volume, respectively. However, the trailing 12 months have shown positive signs, with total transaction volume recording a 17% increase, reaching approximately USD12.1 billion. Thi...
New Report Reveals Changing Face of Luxury Travel in Asia Pacific
Marriott International, Inc. | July 2, 2024
The Luxury Group by Marriott International launches extensive research among affluent travelers across six markets 68% spending more on leisure travel with 74% respondents planning an intra-regional holiday within Asia-Pacific (APAC) Australia is the top destination in next 12 months ahead of Japan, with 46% planning to visit Indian HNW are driving luxury travel with 89% Indians planning to spend more in next 12 months High end gastronomy is the primary driver for luxury travel with 88% planning holidays around food Three new personas of luxury traveler defined As the Asia Pacific region continues to be the growth engine f...
Market Snapshot: Asia Pacific 2022
Hok Yean CHEE | August 15, 2022
By Hok Yean CHEE In 2021, transaction activity in the Asia Pacific recorded a strong recovery, achieving a transaction volume of approximately USD13 billion worth of hospitality assets, indicating a 47.7% growth year-on-year. Similarly, from 3Q 2021 to 2Q 2022, transaction activity in the Asia Pacific has continued to escalate by 16.8% compared to 3Q 2020 to 2Q 2021. Specifically, growing interest in hospitality assets continues to be observed in markets such as Hong Kong SAR, China, Japan, Indonesia, Thailand, Singapore, and certain markets in the South-East Asia regions. Australia, New Zealand, and South-East Asia saw an upswing mainl...
GuestTek Appoints William Ng as Director of Sales, APAC
GuestTek | January 14, 2020
Company Continues its Aggressive Growth Plans in Region GuestTek Interactive Entertainment Ltd., the global leader in providing innovative and interactive technology solutions for the hospitality industry, is pleased to announce that William Ng has been hired as Sales Director, APAC, effective the 13th of January. Based in Singapore, William has over 20 years of B2B business development experience – primarily focused in the hospitality and travel technology sector. William has a strong track record of results stemming from his senior sales leadership experience at FCS Computer Systems, Ideas Revenue Solutions, and Pegasus Solutions ...
Russell Chen Appointed as Vice President Sales – APAC
GuestTek | September 3, 2019
Calgary, Alberta – September 3, 2019 – GuestTek Interactive Entertainment Ltd., the global leader in providing innovative and interactive technology solutions for the hospitality industry, is pleased to announce that Russell Chen has been appointed their new Vice President of Sales for the Asia Pacific region. Based in Taipei, Taiwan, Russell boasts over 20 years of experience in the hospitality industry and has a strong proven sales record in the Great China Region. He holds a bachelor’s degree in Law and EMBA in Information Management with the National Taiwan University (NTU) as his alma mater. Russell possesses extensive knowle...
Lifestyle Hotels Gain a Foothold in Asia Pacific
Real Views | August 14, 2018
By Serene Lim Lifestyle hotels are carving out a niche in Asia Pacific, boosted by youthful guests looking for authenticity, community and local experiences coupled with features like innovative design, good connectivity and convenient locations. Once lumped together with independently run boutique hotels like those pioneered by hoteliers such as Ian Schrager with The Morgan in New York in the 80s, lifestyle hotels combine the intimacy and designer touches of boutique hotels while also offering the perks of a chain such as a consistent experience and economies of scale. Starwood's W brand is widely acknowledged to be the first mainstrea...
GuestTek Promotes Scott Watts to Managing Director, APAC
March 1, 2018
Calgary, Alberta – March 1, 2018 - As major hoteliers embrace growth opportunities in the Asia Pacific Region, GuestTek Interactive Entertainment Ltd. is expanding to meet the burgeoning demand for world class hospitality technology. Leading the charge will be Scott Watts, newly appointed Managing Director of APAC. With extensive experience in both operations and the hospitality industry, Scott is well prepared to lead the APAC sales, operations and engineering teams. "Growth in the APAC region offers an unprecedented opportunity for the hospitality industry," said Arnon Levy, GuestTek's President and CEO. "As hotels open new prop...
New Lease Accounting Standards to have Dramatic Impact on Businesses in Asia Pacific
JLL | January 15, 2016
JLL highlights real estate implications of new legislation SINGAPORE, 15 January 2015 – Businesses in Asia Pacific are bracing for the impact of a globally imposed new accounting standard for leased assets such as real estate and equipment. The new International Accounting Standards Board (IASB), in conjunction with the US Financial Accounting Standards Board (FASB), has confirmed that by 2019, all companies reporting under the International Financial Reporting Standards (IFRS) and US Generally Accepted Accounting Principles (US GAAP) will be required to comply with the rules. This means that as early as 2017, companies must star...
