hok yean chee
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...
HVS Global Hotel Industry: 2023 Recap and 2024 Outlook
HVS | December 5, 2023
As 2023 draws to a close, regional HVS leaders across the globe take a look back at how the global hotel industry fared this year and opine on the outlook for next year. While the U.S. experienced muted 2023 RevPAR growth relative to 2022 gains, most other global markets recorded extraordinary RevPAR growth, well above 10%, primarily fueled by strong ADR gains. While transaction activity cooled across the Americas and Europe, the Asia Pacific saw a significant strengthening as this region’s markets moved beyond pandemic-era restrictions. United States By Rod Clough, President – Americas As 2023 ends, we look back on a year where hot...
Market Snapshot: Asia Pacific 2023
Hok Yean CHEE | October 31, 2023
By Hok Yean CHEE Transactions in the Asia Pacific In 2022, transaction activity in the Asia Pacific remained steady with a 4% increase in transaction volumes, achieving a transaction volume of approximately USD13.3 billion worth of hospitality assets. While some larger markets may have experienced slowed transaction volumes in the past fiscal year, most notably South Korea and China, other markets are making gains, including both Australia and Japan. Both countries registered increases in the past fiscal year (3Q 2022 to 2Q 2023) in transaction volumes of over a billion USD. Ongoing market conditions including interest rate hikes, slower th...
In Focus: Singapore
Hok Yean CHEE | August 31, 2023
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of approximately 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.6 million people, Singapore has witnessed a remarkable record of sustained economic growth throughout the years and bolstered its role as a global commerce, finance and transportation hub. Due to the high inflation and uncertain global outlook, Singapore's overall economy grew by 3.5% in 2022. Further decrease in Gross D...
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...
In Focus: Singapore
Hok Yean CHEE | March 25, 2022
By Hok Yean CHEE Key Highlights in 2021 The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of an estimated 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its population of approximately 5.45 million people, Singapore has witnessed consistent economic growth throughout the years and is prominent in the financial services, energy and infrastructure, biotechnology and tourism, medical tourism and information and communications technologies. Source: Pexels Due...
In Focus: Maldives 2021
Peggy Lee | August 16, 2021
By Peggy Lee, Chariss Kok Xin, Hok Yean CHEE Key Highlights in 2020 The Republic of Maldives is located in the Indian Ocean, southwest of Sri Lanka and India. The country comprises 1,192 coral islands, which are divided into 26 major island rings, known as atolls. For administrative purposes, these 26 atolls are organised into nineteen administrative districts across an area of 90,000 square kilometres in the Indian Ocean. Famous for its natural beauty with white sand beaches and crystal-clear waters, the Maldives is ranked as one of the best diving destinations in the world. Tourists seeking leisure and relaxation are especial...
Market Snapshot: Asia Pacific 2021
Hok Yean CHEE | June 11, 2021
By Hok Yean CHEE Transactions in the Asia Pacific In 2020, transaction activity in the Asia Pacific took a hit from the new high in 2019, achieving a transaction volume of approximately US $8.6 billion worth of hospitality assets, indicating a 41.8% decline year on year. Similarly, from 2Q 2020 to 1Q 2021, transaction activity in the Asia Pacific has continued to slow down. Despite the slow-moving transaction activity, growing interest in hospitality assets continues to be observed in regions such as Australia & New Zealand, China, Japan, South Korea, Taiwan, and certain markets in the South-East Asia regions. The slowdown is mai...
