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ColliersInsightAsiaHotelsQ12018ColliersHotelInsightAquarterlydigestofkeytrendsinthehospitalitysectorInsidethisquarterOPINIONHigh-endrestaurantsandhotels.Dotheyfit?HOTELSChina–thedemandforhotelsDestinationofthequarter–SingaporeGAMINGUpdateontheAsianGamingmarket2ColliersHotelsInsight|Q12018|ColliersInternationalGovindaSinghExecutiveDirector|HospitalitySpecialistValuation&Advisory|Asiagovinda.singh@colliers.com“Lookingatsupplydevelopment,China’ssecond-tiercitiesareseeinghigherratesofgrowththanthefirst-tiercities.ThishasbroughtbothopportunitiesandchallengesformarketsincitieslikeXi’an,Hangzhou,Tianjin,WuhanandDalian,whichhaveseenratedeclinesoverthepastfewyears.Thankstoaboomindomesticleisuretravel,thesemarketssawgrowthinbothoccupancyandrates.”-ChristineLiu,STRGlobalForewordWelcometoourQ12018editionofColliersHotelsInsight,ourquarterlymagazinespecificallyforhotelandotheraccommodationstakeholdersacrossAsia.ThiseditionfeatureskeytrendsinvariousdestinationsacrossAsia,ahighlightofkeyindustrydisruptors,andatechnicalsection.Wealsoprovideinsightsandopinionsontopicalissueswithinthegamingandleisuresectors.HotelsacrossAsiaPacifichavehadamixedstartto2018,withroomoccupancylevelsshowingamodestincreaseof1.5%yeartodateFebruary,whencomparedtothepreviousperiod.Thisincreasehowever,cameattheexpenseofADRwhichretreatedby4.5%,ledmainlybyCentralandSouthAsianproperties.Bali,Hanoi,Manila,andSeoulallwitnessedsizeabledropsinRevPar.Whetherthissetsthescenefortheremainderof2018remainstobeseengiventheshorttimeline.ItisalsointerestingtonotethenegativeimpacttheWinterOlympicshadonoccupancylevelsathotelsinSeoul.SupplygrowthindestinationsacrossAsiaislikelytocontinuetoweighonperformance,andespeciallyADRgrowth.Bali,Jakarta,ShanghaiandGuangzhouaresomeofthedestinationsexpectedtowitnesssignificantnewadditionsinthecomingyears.RecentsabrerattlingbetweentheUSAandChinaislikelytoweightosomedegreeonbusinessandconsumerconfidence,therebytemperingdemandgrowthespeciallyifitescalates.However,intra-AsiatravelandthegrowingdomesticmarketsinanumberofthelargerdestinationsacrossAsia,islikelytocontinuetounderpindemand.Onthatnote,hoteliersandtheirmarketingteamsshouldbeconsideringspendingsomemoreoftheirbudgetsontheAsiananddomesticmarkets–marketsthat,ifhandledcorrectly,canleadtosustainedlevelsofrepeatandreferralbusiness.3ColliersHotelsInsight|Q12018|ColliersInternationalColliersHotelsColliersInternationallauncheditsspecialisedhotelsdivisionin1985.Todayweprovideexpertiseincapitalvaluations,managementagreements,rentaladvisoryfeasibilitystudies,assetmanagementandtransactionadvisoryservices,aswellasbrokerageacrossAsiaPacific.OurdedicatedhotelspecialistsarebasedinAustralia,HongKong/China,India,SingaporeandThailand.Weregularlyactonbehalfofmajorinstitutionalpropertyowners/fundsfortheirvaluationneeds,fromsinglestrataunitstocompositedevelopmentsandgolfcourses.Forallvaluationpurposes,includingIPOs,listings,acquisitions,disposalsandmergers.Ourmulti-lingualandmulti-culturalteamcomprisedofhighlyqualifiedprofessionalswillhelpclientsachievetheirrealestategoals.Colliers’professionalshaveextensiveoperatingandconsultingexperienceinthehospitalityindustryacrossthemajorassetclasses,whichprovidesclientswithextraordinaryvalueandasinglepointofcontact,throughtimely,relevantandforward-lookingadvice.Thisglobaldivisionhasexceptionalrelationshipswithinvestorsworldwide,requiredforthetimelyandeffectivesaleofassets.Inaddition,theyhaveworkedwithawiderangeofclientsincludingcorporatehotelclients,privateequity,sovereignwealthfunds,independentowners,REITS,governments,andbanks.OurServicesWhetheryouareastartuporwell-establishedowner,developerorinvestor,wewillhelpyougothroughthebusinesslifecyclebyprovidingspecialised,value-addedadvicesthataretailor-madetoyourspecificneeds:MarketDemandandFeasibilityStudiesValuations–PropertyandBusinessPlantandMachineryValuationImpairmentTestingCapitalMarketsDueDiligenceInternalBusinessReviewsOperatorSearchandSelectBenchmarkingandForecastingGrowingthebusiness:extensions,refurbishments,brandrolloutandexpansionAssetManagementBusinessRestructuring–opco/propcoNeedsAnalysis/EconomicImpactStudiesHighestandBestUse/ConceptDesignsTransactionAdvisory,IPOandREITSlistingManagementAgreementsandLeaseReviewsLitigationSupportandDisputeResolutionProjectManagementandLeasingTourismStrategyandMasterPlanning4ColliersHotelsInsight|Q12018|ColliersInternationalHospitalityTrackRecordOurtrackrecordincludesallmainassettypesfromhotelstoresorts,heritageproperties,servicedapartments,vacationhomes,casinos,themeparks,spas,andgolf,allbeingcompletedprojectsornewdevelopments.Ourspecialisedsectorexpertiseincludes:HotelsandResortsGolfCasinosandRacecoursesHealthandFitnessSpasandWellnessFacilitiesMeetingsandEventsMixed-useDevelopmentsTravelTrade5ColliersHotelsInsight|Q12018|ColliersInternationalContentsCOLLIERSHOTELS.....................................3OurServices........................................................3HospitalityTrackRecord......................................4HOTELTRENDS......