economic trends
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...
Macroeconomics in 2022: How Can Hospitality Leaders Learn From the Past?
Dr Giuliano Bianchi | January 5, 2022
By Dr. Giuliano Bianchi The COVID-19 pandemic has drastically altered the world’s economic situation leading many economists to predict that it will have as significant an impact as the great depression of the 1930s. As such, many of the field’s fundamental principles must be reconsidered for the coming years, including several which received less attention in recent years since learnings from the Great Recession have superseded them. In order to properly educate students and managers about the relationship between economic theories and practical implications on the hospitality industry, such shifts must be incorporated into macroecono...
Is the German Hotel Market Poised to Be One of the Fastest in Europe to Recover From COVID-19?
Arlett Hoff | April 23, 2020
By Arlett S. Hoff A Short Outline of the Pandemic Response in Germany The 2019-20 coronavirus pandemic was confirmed to have reached Germany on 27 January 2020, when the first COVID-19 case brought in by a Chinese visitor at Webasto was confirmed and contained near Munich, Bavaria. The majority of cases in January and early February originated from the headquarters of a car parts manufacturer there. On 25 and 26 February, multiple cases related to the Italian outbreak were detected in Baden-Württemberg. A large cluster linked to a Carnival event was formed in Heinsberg, North Rhine-Westphalia, with the first death reported on 9 March 2020....
How Hospitality and Retail Businesses Can Survive the Coronavirus Shutdown
René-Ojas Woltering | April 20, 2020
By René-Ojas Woltering Policy makers around the world have enforced an unprecedented shutdown of public life to slow down the spread of the coronavirus. As a consequence, entire sectors of the economy have seen their revenues collapse to zero. At the time of this publication, it appears that the shutdown will be a matter of months rather than just a few weeks. Yet, to date, no coherent political-economic strategy exists on how businesses may potentially survive a prolonged period without any revenues. Many hospitality and retail businesses are about to be sacrificed in the name of public health. A wave of insolvencies would cause irrev...
