HVS Shanghai just released the publication of its Taiwan Market Outlook: the hotel market is due to continue growing as “Signs of Rejuvenation Sparkle Taiwan’s Hotel Sector”…
SHANGHAI- HVS Shanghai released at the end of last month its Taiwan Market Outlook: Hotel Market Poised for Growth. According to this research, limited high-end hotel supply in Taiwan, coupled with a positive tourist arrivals outlook, provide opportunities for Taiwan’s hotel market to bloom.
Since the signing of the Economic Cooperation Framework Agreement (ECFA) between mainland China and Taiwan, mainland Chinese tourist arrivals to Taiwan have surged, registering a constant annual growth rate (CAGR) of 63% between 2008 and 2010. This number is expected to grow as further relaxation on the travel restrictions on mainland Chinese tourists is administered. According to the Taiwan Tourism Bureau (TTB) total visitors to Taiwan are expected to reach 10 million by 2016.
In 2012, Taipei witnessed the vigour that W Taipei brought into the Taiwan hotel scene. “As one of the few new hotels– and a management contract-based hotel — W Taipei may inspire more management contracts in Taiwan as developers and owners see the benefits,” comments Jonathan Jaw, Associate at HVS Shanghai, and author of the Taiwan Market Outlook. “Furthermore, due to the shortage of upscale hotel supply in Taichung and Kaohsiung provinces, and an improved tourism infrastructure, we may see more new properties in the near future.”
“Supply growth is imminent as tourist arrivals increase at the fast pace it observed in the past. We are finally seeing a robust energy in the Taiwan hotel market.”
HVS Shanghai has assessed nearly 1,000 hotel-related projects within China and the Asia Pacific region for leading hotel companies, hotel owners and developers, investment groups and banks. Known as the foremost provider of hotel valuations and feasibility studies, and for our ability, experience and relationships throughout China and Asia, HVS Shanghai provides valuation advisory for numerous international banks which finance hotel and portfolios projects.
HVS Shanghai is also the proud host of the China Hotel Investment Conference (CHIC) held annually in Shanghai. Roaring into its 9th edition, the conference themed “Vision and Strategy for Success in a Changing World” will be held from 17 to 19 April 2013. The focus will be on insights and strategies to generate the highest returns and market value for your hotel development and investment portfolios in a competitive and changing market environment. CHIC has established its reputation as the most influential hotel investment conference in China by delivering a wealth of timely market insights that facilitate corporate strategies and growth in the world’s second largest economy. The 2012 event saw a record turnout of 860 CEOs and leaders of the hotel and tourism industry from over 20 countries.
Luc Citrinot a French national is a freelance journalist and consultant in tourism and air transport with over 20 years experience. Based in Paris and Bangkok, he works for various travel and air transport trade publications in Europe and Asia.
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