Asia Pacific - HVS Hotel Valuation Index

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HVS In-Depth Asia Pacific Hotel Valuation Index:   2018 | 2016

The 2018 edition of the Hospitality Valuation Index (HVI) – Asia Pacific (APAC) comes to light amidst economic rebalancing, political changes, natural occurrences, and uncertainties across the region. While 2016 was a bearish year, 2017 saw the recovery in majority of the region’s economies, backed by an upswing in global growth, improving commodity prices and private consumption. Despite the eventful year(s), HVS endeavors to capture and reflect fundamental and inherent changes irrespective of excessive exuberance or paranoia.

With change being the only constant, it comes as no surprise that the past two years have ushered in an era of changes and uncertainties for the region. Once APAC’s largest supporter, the United States of America has reduced their economic engagement with the APAC since Donald Trump’s election into office. In contrast, China has played an increasingly important role with President Xi repeatedly emphasizing further cooperation and integration in the region. However, geopolitical tension and slowdown in the China’s economy has continued to put downward pressure on regional economies. Pressures were further compounded by oil prices bottoming out in 2016.

In 2017, the momentum swung for the region as oil prices recovered and global business sentiment improved. In North Asia, the region’s second largest economy, Japan, recorded eighth consecutive quarter of growth, helped by increasing private consumption, improvement in business sentiment and accelerating inflation. Similarly, South Korea’s economy expanded at its fastest pace in three years. However, their diplomatic feud with China over a missile defense system negatively affected its tourism industry. Southeast Asian countries: Malaysia, Vietnam, and Singapore benefited from the strengthening of domestic and external demand and saw an accelerated pace of economic expansion over 2016. Despite a series of unfortunate events in Indonesia, including terrorist attacks, multiple volcano eruptions and earthquake, their economy remained resilient achieving growth of 5%, in line with 2016. Elsewhere in Australia, despite growth slowing in 2017 on the back of reduction in net exports, particularly in rural goods and tourism, the economy continues to grow at a solid pace. However, the subdued mining industry in Perth continues to put downward pressure on the state.”

Market Value Change

Market 2019 2020
Bali
Stable values
Moderate value increase
Bangkok
Stable values
Moderate value increase
Beijing
Moderate value increase
Significant value increase
Brisbane
Stable values
Moderate value increase
Guangzhou
Stable values
Significant value decline
Hanoi
Stable values
Stable values
Ho Chi Minh
Moderate value increase
Moderate value increase
Jakarta
Moderate value decline
Moderate value increase
Kuala Lumpur
Significant value decline
Moderate value increase
Langkawi
Stable values
Stable values
Maldives
Stable values
Stable values
Manila
Moderate value decline
Moderate value increase
Melbourne
Stable values
Stable values
Osaka
Stable values
Moderate value increase
Perth
Moderate value decline
Moderate value decline
Phuket
Stable values
Moderate value increase
Seoul
Stable values
Moderate value increase
Shanghai
Moderate value increase
Moderate value increase
Shenzhen
Moderate value decline
Moderate value decline
Siem Reap
Moderate value decline
Significant value increase
Singapore
Stable values
Stable values
Sydney
Significant value increase
Moderate value decline
Taipei
Significant value decline
Moderate value increase
Tokyo
Stable values
Moderate value increase

Top 10 Previous Year

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Bottom 10 Previous Year

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Top 10 Current Year

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Bottom 10 Current Year

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Top 10 Next Three Years

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Bottom 10 Next Three Years

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