Full recovery for APAC hotel demand not until 2023
/ Posted on 25 February, 2021 12:39 Asia-Pacific’s hospitality sector is predicted to take on a V-shaped recovery, with a return to 2019 levels expected in 2023, according to Colliers International’s recently-released Hotel Insights 1Q2021 report. Govinda Singh, executive director, head of hotels & leisure, Asia, commented: “The global economic outlook is expected to improve by 2H2021, with travel to rebound over the next three years to at least pre-Covid-19 levels. We anticipate some caution in the near term as borders reopen and the mechanism to facilitate mass travel is formalised be...
Source: ttgasia.com