Hotel investors eye East Asia and GCC

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The Dorchester Collection wants to expand with palace hotels in East Asia and some GCC countries

Great potential for new hotel projects has been identified by prestigious hotel groups as an effect of rising tourist numbers, healthy investors interest and higher purchasing power in Southeast Asia and continuous demand for luxury hospitality in the GCC.

The country list in Southeast Asia is topped by Thailand and Indonesia for Jones Lang LaSalle Hotels (JLLH), a global hotel investment, advisory and asset management services group.

Potential coming out of Thailand was “fantastic”, JLLH said, with “great opportunity for capital value growth.”

With 20.5 million foreign arrivals expected for 2012, Thailand is Asia’s most resilient tourism market, having bounced back from a number of natural disasters and political disturbances. As such, Thailand is becoming increasingly attractive to foreign hotel investors, JLLH said in a report.

Indonesia is also seeing strong demand for touristic infrastructure and hotels, with a tourism base of around 17.5 million domestic visitors and 5.2 million international visitors across its major airports as of June 2012, year-to-date. Bali and Jakarta are dominating  foreign investor interest, but this is slowly diversifying to other regions, according to the hotel experts of Jones Lang LaSalle.

Brunei pushes  Dorchester Hotels

Luxury hotel group Dorchester Collection, owned by the Brunei Investment Agency, said that Asia and the GCC will be the next target for new palace hotels of its brand.

The group’s CEO,  Christopher Cowdray, said that Dorchester is going to open six new hotels by 2015, one each in Tokyo, Beijing, Shanghai, Hong Kong, Singapore and Sydney. Beyond that, the group is looking at the Middle East, namely at Dubai, Doha and probably Abu Dhabi.

The focus was on Asia because that was where the future development of the business lay, said Cowdray, and with the Chinese in particular because “the Chinese will be the biggest travel group in the future. They’re looking for luxury and the very wealthy are discerning, they know what true luxury is.”

 

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Reading Time: 2 minutes

The Dorchester Collection wants to expand with palace hotels in East Asia and some GCC countries

Great potential for new hotel projects has been identified by prestigious hotel groups as an effect of rising tourist numbers, healthy investors interest and higher purchasing power in Southeast Asia and continuous demand for luxury hospitality in the GCC.

Reading Time: 2 minutes

The Dorchester Collection wants to expand with palace hotels in East Asia and some GCC countries

Great potential for new hotel projects has been identified by prestigious hotel groups as an effect of rising tourist numbers, healthy investors interest and higher purchasing power in Southeast Asia and continuous demand for luxury hospitality in the GCC.

The country list in Southeast Asia is topped by Thailand and Indonesia for Jones Lang LaSalle Hotels (JLLH), a global hotel investment, advisory and asset management services group.

Potential coming out of Thailand was “fantastic”, JLLH said, with “great opportunity for capital value growth.”

With 20.5 million foreign arrivals expected for 2012, Thailand is Asia’s most resilient tourism market, having bounced back from a number of natural disasters and political disturbances. As such, Thailand is becoming increasingly attractive to foreign hotel investors, JLLH said in a report.

Indonesia is also seeing strong demand for touristic infrastructure and hotels, with a tourism base of around 17.5 million domestic visitors and 5.2 million international visitors across its major airports as of June 2012, year-to-date. Bali and Jakarta are dominating  foreign investor interest, but this is slowly diversifying to other regions, according to the hotel experts of Jones Lang LaSalle.

Brunei pushes  Dorchester Hotels

Luxury hotel group Dorchester Collection, owned by the Brunei Investment Agency, said that Asia and the GCC will be the next target for new palace hotels of its brand.

The group’s CEO,  Christopher Cowdray, said that Dorchester is going to open six new hotels by 2015, one each in Tokyo, Beijing, Shanghai, Hong Kong, Singapore and Sydney. Beyond that, the group is looking at the Middle East, namely at Dubai, Doha and probably Abu Dhabi.

The focus was on Asia because that was where the future development of the business lay, said Cowdray, and with the Chinese in particular because “the Chinese will be the biggest travel group in the future. They’re looking for luxury and the very wealthy are discerning, they know what true luxury is.”

 

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