PHUKET, 16 January 2018: C9 Hotelwork’s new market report questions if cookie-cutter hotel groups will again fall asleep at the wheel as they did with OTA’s and Airbnb?
Call them poshtels, hostels or hybrid hotels, but one of the most exciting travel spaces across Asia is the emergence of socially-focused accommodation, C9 Hotelworks’ managing director Bill Barnett explains.
He claims plenty of evidence to show that not only Millennials embraced the shift, but also older explorers jumped ship to abandon traditional properties.
Taking a deep dive into the current set of economics across Southeast Asia hospitality consulting group C9 Hotelwork’s released its latest Hostel Market Update 2018, Monday.
With 1,766 international standard hostels in the region accounting for 63,000 beds, year-on-year growth last year shot up by an impressive 32%.
Barnett says, there are no signs of deceleration in the hostel market as investment is being embraced by an increasing number of hospitality groups and institutional investors. Within Southeast Asia, the tourism tigers of Thailand, Malaysia, Indonesia and Vietnam are key players.
Analysing the state of play, hostels typically sat in the sub-budget accommodation tier in the past, but with the recent evolution of properties now becoming hybrid hotels with a mix of private rooms, it’s an entirely new ballgame, C9 Hotelworks notes.
To download the entire report CLICK.
(Source: C9Hotelworks)
