Southeast Asia Bulletin, Q4 2020
UNWTO predicted that international tourist numbers could plunge up to 80% in 2020 due to the Covid-19 pandemic, back to levels of 30 years ago. In Southeast Asia, new coronavirus strains may force authorities to not open their borders quickly, continuing to impact the regional hospitality market.
In this context, Southeast Asia is expected to see major changes in new hotel development because global and regional chains are shifting their attention to conversion opportunities and a management-light approach via soft brands, franchising, and third-party operators. Besides, an M&A wave may hit the market soon, especially affecting non-core hotel owners and family businesses in resort destinations in Thailand, Indonesia, and Malaysia.
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