Hotels set for recovery in Asia-Pacific as borders reopen but China’s decision to remain shut clouds overall picture
- With China’s borders still closed, a full recovery in the Asia-Pacific tourism industry remains a distant prospect, analysts say
- US-headquartered Radisson Hotel Group is adding 1,700 hotels and resorts in the region by 2025 to its current 400 properties
Hotels are gearing up for a recovery in Asia’s travel industry as countries begin to roll back Covid-19 restrictions, with companies and even government agencies ramping up marketing campaigns.
However, with China’s borders still closed, a full recovery in the Asia-Pacific tourism industry remains a distant prospect, with China accounting for more than 40 per cent of all tourists in the region historically, according to an analyst at real estate firm JLL.
As countries in the region begin to either partially or fully reopen to visitors, a sense of optimism in the travel industry has become palpable.
For example, Brussels-headquartered Radisson Hotel Group (RHG) is adding 1,700 hotels and resorts in the region by 2025 to its current 400 properties, as it seeks to quadruple growth across Asia-Pacific, according to Katerina Giannouka, president, Asia-Pacific, RHG.
“This growth of RHG’s Asia-Pacific portfolio by 400 per cent by 2025 is the most aggressive push for the group in the Asia-Pacific region to date. This region is key to driving (our) growth … enabling RHG to capitalise on the tourism rebound post-pandemic,” she said. At the start of the pandemic, the group had to close 5 per cent of its properties in the region.
RHG will be focusing on key markets such as India, Vietnam, Thailand, Australia and New Zealand for most of its expansion plans. The company has also begun rehiring employees, Giannouka said.
