Is South East Asia’s Era of Hotel Rate Growth Now Over?, with Jesper Palmqvist, STR CoStar

"The narrative is changing. We're not talking about the pace of hotel rate growth anymore." Stability and volatility may sound contradictory, but both terms help to explain hotel performance in South East Asian markets and China so far in 2024. To delve deeper into the evolving travel, tourism and geo-economic factors influencing the hotel industry, Gary and Hannah welcome Jesper Palmqvist, Senior Director, Asia Pacific, at STR CoStar, back to the show. In a broad-ranging interview, Jesper discusses consumer spending, hotel pipelines, differentiated luxury segments, booking windows, public holidays, weather patterns and the return of seasonality throughout the region. We also address intra-ASEAN flight connectivity and the interlocking travel factors in North East Asia, and their impacts in ASEAN markets. Plus, we dive into the developing post-pandemic trends in Singapore - which is a regional benchmark travel and hospitality market - and the objectives and potential outcomes of its Vision 2040 strategy.