2022-09-24-仲量联行-2022年东南亚酒店报告（英文版）_8页_2mb

Summary of Southeast Asia Hotel & Hospitality Market (March 2022)

Core Content

This report provides an overview of the hotel and hospitality market in Southeast Asia, focusing on key destinations such as Bangkok, Hanoi, Jakarta, and Phuket. It highlights the impact of the pandemic on tourism and hotel operations, the gradual easing of restrictions, and the anticipated recovery in 2022. The document also outlines new hotel openings, notable deals, and market performance metrics.

Main Points

1. Reopening of Borders and Tourism Recovery

• After two years of strict pandemic restrictions, Southeast Asian countries are gradually reopening to international tourists.
• Thailand was the first to reopen in July 2021 with the Phuket Sandbox programme, followed by Singapore with Vaccinated Travel Lanes (VTL).
• In February 2022, Thailand reinstated its quarantine-free visa programme, known as 'Test and Go', and other countries such as Malaysia and Vietnam are also easing travel restrictions.
• The report forecasts a gradual increase in international visitors, especially from Western countries, towards the second half of 2022.

2. Hotel Market Expansion and Quality Improvement

• The hotel landscape is expected to expand significantly in 2022 with many delayed projects opening.
• New hotels and hotel expansions are anticipated to improve both the quantity and quality of the market, catering to international and domestic tourists, as well as leisure and business travelers.
• Average length of stay is expected to increase, reflecting a more mature and diverse demand base.

3. Regional Market Insights

Bangkok

• Tourism: International visitor arrivals dropped by -90.3% year-on-year in 2021, but saw a 101.5% month-on-month increase in December 2021.
• Demand: Pre-pandemic, Mainland Chinese visitors were the top source market, followed by Japan, India, and South Korea. Domestic and corporate demand are expected to lead the recovery in 2022.
• Supply: In 2021, four properties added over 780 keys, with two opening in December. In 2022, nearly 50 additional properties with over 8,000 keys are expected to open.
• Quick Facts:
  • International Visitor Arrivals (2021): 625,362
  • New Rooms (2021): 788
  • Occupancy (YTD Dec 2021): 15.2%
  • ADR (YTD Dec 2021): USD 126
  • RevPAR (YTD Dec 2021): USD 19

Hanoi

• Tourism: In 2019, Hanoi welcomed 29 million visitors, but this dropped to 8.7 million in 2020 due to the pandemic. In 2021, it recorded 4 million domestic visitors.
• Demand: Domestic and corporate demand have dominated since the pandemic, with international arrivals still muted.
• Supply: In 2021, four major hotels opened, adding 678 rooms. In 2022, ten properties with 1,900 rooms are expected to open.
• Quick Facts:
  • International Visitor Arrivals (2021): 157,300
  • New Rooms (2021): 731
  • Occupancy (YTD Dec 2021): 31.3%
  • ADR (YTD Dec 2021): USD 95
  • RevPAR (YTD Dec 2021): USD 30

Jakarta

• Tourism: International visitor arrivals in 2021 were 119,419, with domestic tourism remaining the key driver for luxury hotels.
• Demand: Domestic tourism, particularly from corporate and staycation guests, has driven recovery.
• Supply: In 2021, four major hotels opened, adding 678 rooms. In 2022, ten properties with 1,900 rooms are expected to open.
• Quick Facts:
  • International Visitor Arrivals (2021): 119,419
  • New Rooms (2021): 678
  • Occupancy (YTD Dec 2021): 46.1%
  • ADR (YTD Dec 2021): USD 116
  • RevPAR (YTD Dec 2021): USD 53

Phuket

• Tourism: Phuket received 224,000 international visitors in 2021, a decrease of 89.4% compared to 2020. It was the first destination in Southeast Asia to reopen to vaccinated international travelers.
• Demand: Phuket traditionally attracted a diverse range of international visitors, with Mainland China, Russia, and Germany as top source markets.
• Supply: In 2021, four new properties added 545 rooms, with the Courtyard by Marriott Phuket Town opening in Q4. In 2022, 4,000 additional hotel rooms are expected to open.
• Quick Facts:
  • International Visitor Arrivals (2021): 224,537
  • New Rooms (2021): 545
  • Occupancy (YTD Dec 2021): 18.5%
  • ADR (YTD Dec 2021): USD 127
  • RevPAR (YTD Dec 2021): USD 23

Key Information

• Vaccination Rates and Travel Restrictions: Vaccination rates in the region range from 55% to 90%, and with the Omicron variant being less severe, countries are expected to continue easing travel restrictions.
• Domestic Demand: Domestic tourism is expected to remain a key driver of recovery in the first half of 2022, especially for luxury and upscale hotels.
• New Hotel Openings: 2022 is anticipated to see a significant increase in hotel openings, with many projects delayed during the pandemic now resuming.
• Infrastructure Development: Phuket has seen new infrastructure projects such as the Phuket Light Rail System, which are expected to ease congestion and support continued growth in visitor arrivals.

Contact Information

• Calvin Li – Head of Transaction Advisory, Asia Pacific
  Email: calvin.li@ap.jll.com

• Chakkrit Chakrabandhu Na Ayudhya – Executive Vice President, Investment Sales, Thailand and Vietnam
  Email: chakkrit.chakra@ap.jll.com

• Tuan Nguyen – Senior Vice President, Investment Sales, Vietnam
  Email: quytuan.nguyen@ap.jll.com

• Cleavon Tan – Senior Vice President, Advisory & Asset Management, Asia Pacific
  Email: cleavon.tan@ap.jll.com

• Pitinut Pupatwibul Robbins – Senior Vice President, Advisory & Asset Management, Thailand and Vietnam
  Email: pitinut.pupatwibul@ap.jll.com

• Marina Bracciani – Senior Associate, Hotels Research, Asia Pacific
  Email: marina.bracciani@ap.jll.com

Additional Contact Details

• Bangkok: +66 2 624 6400
• Hanoi: +84 24 3944 0133
• Ho Chi Minh City: +84 8 3911 9399
• Jakarta: +62 21 2922 3888
• Kuala Lumpur: +60 3 2260 0700
• Singapore: +65 6536 0606

Conclusion

The Southeast Asia hotel and hospitality market is on the path to recovery, with a focus on domestic demand and a gradual return of international tourists. The easing of travel restrictions, coupled with new hotel openings and improved infrastructure, is expected to drive a stronger recovery in 2022. However, the pace of recovery may vary by city, with some destinations like Hanoi and Phuket potentially recovering faster due to their reliance on domestic and corporate demand.