Each week, HotelNewsNow.com features a news roundup from a different global region. Today’s roundup covers the Asia/Pacific region. Regional hotel supply in 2012 Among the chain-scale segments, the upscale segment opened the most new rooms with 17,050 rooms in 79 hotels, followed by the upper-upscale segment (45 hotels with 15,463 rooms) and the economy segment (156 hotels with 14,194 rooms). The midscale segment (33 hotels with 7,253 rooms) and the upper-midscale segment (34 hotels with 7,031 rooms) added the fewest number of new rooms. Asia/Pacific 2012 hotel performance China’s economy exits slowdown with Q4 growth Industrial output in December increased a more-than-expected 10.3%, and fixed-asset investment for the year gained 20.6%. “China’s recovery is in quite good shape,” Zhu Haibin, chief China economist at JPMorgan Chase in Hong Kong, said in a telephone interview with Bloomberg. “Domestic pro-growth policies are likely to wane in mid-2013,” yet demand from abroad might pick up in the second half, he said. Malaysia Airports launches airport hotel brand With this announcement, Malaysia Airports will own and operate the full-service Sama-Sama KL International Airport hotel adjacent to Kuala Lumpur International Airport as well as the existing transit hotel located at the satellite building of the airport. The transit hotel will be rebranded as Sama-Sama Express Klia. With the completion of Klia2, Malaysia Airports also will operate its transit hotel, which will be called Sama-Sama Express Klia2. Asia/Pacific hotel transaction volume to increase in 2013 This projection represents an improvement on 2012 volumes, where hotel sales activity dropped 30% on the previous year to $3.3 billion. Australia and Japan are expected to see the lion’s share of investment dollars this year, while pockets of activity will be seen across the rest of the region. Starwood announces focus on India and South Asia “Already our fourth largest market, India is comfortably poised to be second only to China in terms of our future global growth. India today is still an ‘under-hoteled’ market, and the demand for high-caliber lodging is expected to far exceed current supply for at least the next three to four years. As domestic travel increases and Indian travelers continue to demand more sophistication in terms of both quality and experience, we have significant opportunity to grow our brands across the spectrum in gateway cities, tertiary markets as well as in resort destinations,” said Stephen Ho, president of Starwood Asia Pacific Hotels and Resorts. Indonesian visitor arrivals lead to hotel boosts The growth in visitor arrivals amid the global economic uncertainties indicates Indonesia remains one of Asia’s most popular destinations. The Ministry of Tourism and Creative Economy remains confident its target of receiving 8 million visitors in 2012 can be achieved. With foreign investments in the tourism sector in Indonesia reaching $7.3 billion for the first nine months of 2012, compared with $2.5 billion for the same period in 2011, Indonesia has now become a destination that provides hotel developers and chains with significant opportunities for growth. Emerging markets fraught with development risk That’s even truer when targeting development in emerging markets such as India or China, according to panelists during a breakout session titled “Investment and operating issues for hotels as cities evolve” during the Hotel Investment Forum India at the Leela Kempinski Gurgaon Hotel earlier this month. “The first decision is when to go into the market,” said Uttam Dave, president and CEO of InterGlobe Hotels, a joint venture between InterGlobe Enterprises and Accor, which operates seven Ibis hotels in India with an additional 12 under development. Metropolises such as Delhi, where the conference was hosted, emerge so rapidly that making that decision is easier said than done, he added. To help, Dave said his team evaluates several key factors. “We tend to err on the side of being risk averse,” he said. “The local people know the hotel market best. What is the extent of local market supply? How are they performing?” Other factors include the presence of grade-A office space and necessary infrastructure, such as power access and a sewer connection. Key openings, transactions Compiled by Stephanie Wharton.
The Asia/Pacific hotel industry opened 458 new hotels with 82,476 rooms in 2012, according to data from STR Global, sister company of HotelNewsNow.com.
In 2012, the Asia/Pacific region’s occupancy ended the year virtually flat with a 0.5% increase to 68.3%, its average daily rate increased 0.9% to $129.26 and its revenue per available room was up 1.4% to $88.25, according to data from STR Global.
China’s economic growth accelerated for the first time in two years as the country’s gross domestic product rose 7.9% in the fourth quarter of 2012, according to a report in Bloomberg. The National Bureau of Statistics released the figures in Beijing earlier this month.
Malaysia Airports Holdings Berhad launched its new airport hotel brand, Sama-Sama, earlier this month. The launch of the Sama-Sama brand marks Malaysia Airports’ entry into the airport hotel sector and positions it as the region’s first dedicated operator of airside and landside airport hotels.
Asia/Pacific hotel transaction volumes are projected to reach $3.5 billion in 2013 on the back of strong investment sentiment to buy hotel assets in the region, according to Jones Lang LaSalle’s latest Hotel Investment Outlook.
Starwood Hotels Resorts earlier this month announced its continued focus on growth in India and South Asia. The company operates 34 hotels with 24 hotels in the pipeline. It aims to have 100 hotels under operation, development and management contracts signed by 2015 with eight out of nine Starwood brands flying their flag in India.
Global visitor arrivals to Indonesia in the first nine months of 2012 rose by 5% to 5.9 million from 5.6 million visitors during the same period of 2011, according to a recent HVS report.
Location might be important, but timing is everything when developing a new hotel, writes HotelNewsNow.com’s Patrick Mayock.
Global hotel pulse: Asia/Pacific news
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