C9 Hotelworks Releases New Asia Branded Residences Update
Asia now accounts for a third of hotel branded residences globally, which are in the market according to C9 Hotelworks latest research. Over the next five years there will be an addition to inventory of 79 developments with over 16,130 units in the upscale through luxury tiers.
In the region, Thailand is the leading market for pipeline projects, with over 4,700 units or 29% of incoming supply. Coming second and third are the Philippines and Vietnam. Looking at locations, 42% are in the fast-emerging urban sector, with 58% being more traditional resort or leisure based.
Ranking hotel operators in the upscale to luxury tiers who are flocking to the sector in order to spur development deals, Marriott tops the list followed by ACCOR, Dusit, Hyatt, Shangri-La, IHG and Wyndham. Other prominent operators included Rosewood and Minor.
Our expectation for Asia’s real estate sector that is currently disrupted by the COVID-19 crisis is that a China-led recovery will positively impact branded residences, given a high level of activity by Chinese developers and buyers in the market.
To download and read the full report click Asia Hotel Brand Residences Update 2020.