Hotels in Southeast Asia Seeing the Return of MICE Business and Major Leisure Events

STR | April 11, 2023

Southeast Asia’s hotel industry has seen highs and lows over the past 12 months. The first half of 2022 was a struggle for many hoteliers due to limitations around COVID-19, but as the year progressed and restrictions eased, the demand for travel began to steadily climb. As has been the case for most markets across the globe, it has been leisure travel that has shown the most resilience in the region, yet much of the recent demand in Southeast Asia can be linked to MICE travel and events. This piece shows the events impact in recent historical data as well as upcoming 2023 market impacts via Forward STAR. Measuring future trend...