Asia Pacific ViewPoint - Hotel Megatrends - The Impact of Chinese Outbound Tourists And Shared Accommodation on The Regional Hospitality Industry
The Asia Pacific hotel sector has boomed in recent years, supported by a growing middle class and rising household incomes, which are enabling more people to take holidays overseas. Much of this growth is being driven by tourists from China.
While Chinese tourists only spend a small proportion of their overall budget on accommodation, CBRE Research believes there is significant room for growth. Hoteliers must ensure they provide a service offering that meets the requirements of this increasingly important demographic.
At the same time, the growth of shared accommodation and its capacity to offer consumers lower prices and a unique experience in often unconventional accommodation is prompting traditional hotel operators to rethink their operating models.
This ViewPoint by CBRE Research Asia Pacific analyses these two megatrends currently reshaping the regional hospitality industry and provides recommendations for hotel operators on how best to respond.