Tourism in the region Asia Pacific has grown significantly in the past few years and this has led to an increase in demand for hotel assets in tourist destinations. Foreign arrivals to the region is likely to grow at an average rate of 5 per cent each year between now and 2021 with the number of visitors nearing 758 million, according to research from Savills.
Hotel investment and transactions were at high levels in 2016 in the Asia Pacific region and there could stay there this year. Transaction totals are expected to be as much as USD 10 billion, with Japan, China and Australia continuing to account for most of the transactions.
Global investors continue to look at alternative destinations with traditional opportunities in places such as in Japan, Hong Kong, Singapore and Australia seeing only limited growth. Hotels and resorts in Thailand, Vietnam, Indonesia and developing countries with strong tourism numbers are now gaining traction among investors looking for better returns.
With this activity likely to continue, Savills Hotels, Asia Pacific announced a merger with Alternaty, a hotel advisory practice based in Indochina. The deal will allow both companies to better serve the market and Alternaty’s founders, Mauro Gasparotti and Rudolf Hever, will join Savills as part of the merger.
“The merger between the Savills Vietnam office and Alternaty is of significant strategic importance to Savills Hotels, Asia Pacific. Alternaty’s strong foothold in Indochina enables the Savills team to engage with the growing number of investors In South East Asia actively seeking hotel and resort assets and will consolidate Savills already well-established investment brokerage platform,” says Chris Mancini, Savills CEO Asia Pacific.
Savills Hotels, Asia Pacific has closed several notable deals including the sales of the Anantara Ubud Bali, Duxton Hotel Saigon and the Hyatt Regency Osaka recently. The company hopes the merger will allow it to improve its reach in what looks to be a growing market for hospitality transactions.
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