Business-leisure travel, long-stay services next growth opportunity for hoteliers

HOTEL owners and operators are investing in new facilities as they hope to take advantage of shifts in travel behaviour that are bringing new opportunities.

“As the boundaries between work, life, and travel become more blurred, traditional hotel brands and investors are urged to diversify their product offerings into non-traditional hotel verticals,” said real estate consultancy JLL. These include branded residential spaces, short-term rentals, co-living arrangements, private membership clubs and other niche markets.

Hotel investment volume in the Asia-Pacific (Apac) region has been suppressed this year due to escalating borrowing costs, inflationary pressures and uncertainties stemming from volatile geopolitical environments.