Which Cities are the Rising Giants of the Hotel Industry?
August 29, 2017 7:17am
When it comes to competition among the world’s top hotel markets, it’s going to take a lot to rival London and Paris.
These two long-term favorites attract 30 percent of all hotel investment. Yet that’s not to say that fast growing cities in Asia and the Middle East aren’t rapidly gaining ground.
The likes of Dubai, Beijing, Bangkok, Shanghai and Guangzhou are the world’s most dynamic emerging markets with huge potential for future growth.
“Shanghai and Beijing already rank among the top largest hotel markets and investment destinations,” says Jeremy Kelly, Director, Global Research at JLL. “Bangkok and Dubai are a little behind but attract a growing share of global capital at just short of $1 billion of investment in the past three years. This dynamic group is the one to watch as the cities’ hotel markets continue to grow and mature in the future.”
Indeed Shanghai and Beijing have already expanded to become the second and third largest markets in terms of number of rooms – only behind Las Vegas. Dubai is also a market to watch; its hotels market is set to expand by 50 percent in the next few years.
Yet for all the potential, investment is still lagging. Together the Rising Giants only account for 5 percent of global hotel investment. Watch the video above to find out more.
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