Excerpt from JLL
Emerging cities across Asia and the Middle East are fast becoming the new lands of opportunity for investors and developers within the hotel industry.
Their hotel markets are experiencing rapid expansion amid surging numbers of tourists and corporate travelers from around the world and strong economic growth.
For now, large-scale investment is still lagging but that could soon all change. “These Emerging Hotspots have some of the largest supply pipelines in the world, and are set to see their total number of rooms increase by 30 percent in the next few years,” says Jeremy Kelly, Director of Global Research at JLL.
So where are these dynamic markets? Many are in India where economic boom times are coupled with rising prosperity among its growing middle class to fuel demand for domestic and international brand hotels. The likes of Vietnam and the Philippines also feature along with Middle Eastern markets aspiring to the success of Dubai.
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