Asia is catching the attention of hotel investors who are looking to expand to emerging destinations in Southeast Asia, according to the latest real estate services report from CBRE. CBRE Hotels, Asia Pacific executive director, Robert McIntosh, said the long-term outlook for Vietnam hotel investment appears positiv
Asia is catching the attention of hotel investors who are looking to expand to emerging destinations in Southeast Asia, according to the latest real estate services report from CBRE.
CBRE Hotels, Asia Pacific executive director, Robert McIntosh, said the long-term outlook for Vietnam hotel investment appears positive.
“The quality of the infrastructure and hotels has improved considerably over the last few years and this has led, and will continue to lead, to a more stable and resilient tourism market.”
Hotel supply is forecast to grow in Asia over the next three years – around 8% in total. This is less than the number of projects proposed for Kuala Lumpur and Jakarta, where supply may grow by 20% and 40% respectively if all the proposed projects go ahead.
Investors are now looking for opportunities outside of Hong Kong, Singapore and Tokyo as prices continue to rise in these countries and the report suggests that there is a growing interest in Vietnam.
There has been a tourism growth; the first 5 months of 2014 showed a growth of over 26%.
One of the reasons was a dramatic shift in tourist traffic from Thailand to other Southeast Asia countries during a 6-month crisis of confidence in that country, the report noted.