The effective containment of the pandemic across most countries in the Asia Pacific will give rise to a regional economic recovery in 2021, according to CBRE.

The firm's Asia Pacific Hotel Market Update found average hotel occupancy in the region recovered to 51 per cent in October 2020. 

The report noted greater leisure and business-related domestic travel would eventually lead to a slow but gradual recovery in hotel occupancy, with new protocols stemming from the pandemic expected to remain in place going forward.

"Hotel trading conditions will likely remain subdued in markets reliant upon international travel," the report read.

"Several travel bubbles across the region are being established and may lead to some cross-border tourism. 

"Cleaning and safety protocols will impact the guest experience in the coming years.

Source: CBRE

"Examples include contactless check-in, high-frequency cleaning of surfaces and rooms and social distancing measures in amenities and communal areas."

According to CBRE, hotel investment volumes declined in the first half of the year amid deteriorating liquidity conditions and investors’ difficulties in underwriting future incomes.

However, the firm's research indicates investors retain a healthy appetite for hotels and are adopting a "longer-term view" towards investment returns.

Click here to download the report.

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