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Global property consultant JLL is reporting that Singapore's mid-market hotel sector -- fueled by increased tourist demand and reflected by heightened investment -- will continue to post healthy post-pandemic growth performance in the second half of 2022.
Singapore’s mid-market hotel sector will continue to post healthy post-pandemic growth performance, fueled by increased tourist demand and reflected by heightened investment. According to JLL’s Singapore mid-market hotels outlook 2022, occupancy and investment into the sector will continue to recover in the second half of the year despite broader economic challenges including staffing shortfalls and inflationary-driven supply issues, and more industry-specific requirements such as digital upgrades to properties.
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In Singapore, JLL continues with the regional expansion of its Advisory and Asset Management business. Pierre Marechal has joined the firm as Vice President, Asset Management, Asia Pacific. His responsibilities include asset management support regionally, initially focusing on Singapore and the Maldives. In Singapore, he will also provide full-service asset management support to the mid-market/boutique operations helping owner-operators optimize the performance of their properties. He comes to JLL following two decades of experience in operational and commercial roles in hotels across Europe,...