SHERMAN, CT – A massive influx of hotel supply and rapid changes in consumer behaviour are dramatically transforming the hotel landscape in Asia Pacific (APAC).
According to a forthcoming PhoCusWright report (expected to be published on August 14, 2012), "PhoCusWright's Asia Pacific Online Travel Overview Fifth Edition: Hotels", the region's maturing hotel market is growing rapidly and online bookings are soaring despite mounting concerns over an economic slowdown in key Asian markets such as China and India.
APAC's Long Tail of independent hotels is getting shorter as a robust pipeline among global, regional and local chains greatly expands branded and upscale hotel options in the region. Distribution dynamics are also shifting amid improving technology and infrastructure, as consumers embrace new ways to find and book hotels. Travel industry research authority PhoCusWright projects continued growth for the overall APAC hotel market and strong double-digit gains for the region's online leisure/unmanaged business travel market through 2013, when online hotel penetration will reach 22%.
"Hotels and intermediaries in Asia Pacific are undaunted by macroeconomic fears and remain focused on improving their strategic positioning via aggressive expansion efforts," said Douglas Quinby, PhoCusWright's senior director, research. "As the hotel market's makeover continues unabated, all signs indicate that there is enormous headroom for very high growth rates in the region's online hotel market."
"PhoCusWright's Asia Pacific Online Travel Overview Fifth Edition: Hotels" presents market sizing and projections for the total and online leisure and unmanaged business travel markets from 2009-2013. The report analyzes competitive dynamics throughout the region, with insight into hotel gross bookings and growth rates in China, Japan, Australia/New Zealand (ANZ), India, Southeast Asia and Northeast Asia.