Asia Hotel Insights | Q1 2020

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2020 Q1 Asia Hotel Insights Quarterly Digest Colliers 1536x1040

Hotels across Asia Pacific have had a mixed performance in 2019, with overall room occupancy and average daily rate (ADR) showing decreases to 69.3% and US$97.35 respectively.

 

This resulted in Revenue Per Available Room (RevPAR) for the region showing a decline of some 5.4% year‐on‐ year. However, we note this figure may have been negatively impacted by forex currency movements together with declines in Australia, New Zealand, China, Malaysia and Vietnam.

2020 Hospitality Trends: What you can expect

  • Millennials are driving change - starting with sustainable travel
  • Technology driving decision-making
  • Rising expectations of a seamless experience with smarter hotels and personalised service
  • Hoteliers aiming to drive up direct bookings
  • Hoteliers adopting the 'homestay' concept

This quarterly digest also explores current key trends in the hospitality sector, including disruptors in the hotel industry and the growth of the cruising industry in Asia. Download the Q1 2020 Hotel Insights to learn more.

 


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Asia Hotel Insights | Q1 2020

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PeiYee Lee

Associate Director

Singapore

Having started her career with the Ministry of Trade and Industry (Singapore) and through her portfolio with the International Business Development Division, Pei Yee had gained significant exposure to China.

Pei Yee subsequently joined KPMG’s Business Performance Services consulting team before becoming part of the investment team at PrimePartners Asset Management (now known as Aris PrimePartners Asset Management). She subsequently joined Fortune Capital Management as an Investment Manager.

Pei Yee joined Far East Organization, one of Asia’s leading real estate groups that operates one of the largest hospitality portfolios in Singapore, in 2011 where she was part of the team that launched the Far East Hospitality Trust (“FEHT”) IPO. She was then promoted to Vice President (Investment) with responsibility for sourcing and vetting new investment opportunities. During this time, she also undertook operator searches and asset management for the hospitality assets within FEHT’s portfolio.

Pei Yee subsequently joined Hua Hong Foundation’s investment team, seeking to establish a Singapore-based platform for investments in Northeast China.

Pei Yee joined SilverNeedle Hospitality, part of the Next Story Group, in 2017 with responsibilities in acquisition activities and conducting feasibility studies on potential opportunities for the group. These included new hotels across Asia Pacific and working with the team in expanding the new private members club venture.

Pei Yee is now an Associate Director at Colliers International within the specialist Hotels, Hospitality and Leisure Asia team. She advises on, asset manages and values hotels and leisure investments across Asia

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WeiLeng Tang

Managing Director

Singapore

I am the Managing Director of Colliers in Singapore.  I am responsible for the growth strategy and direction of the business. We are an enterprising real estate service solutions provider – we are a team of experts advising our clients on their business space requirements, to their property investment choices and decisions, managing and driving their asset performance, as well as advising and valuing their assets.  

My expertise is Capital Markets. I have a wealth of experience in selling buildings, hotels and development land for nearly 30 years. Headhunted from government service, I sold my first office building at 20 Malacca Street at Raffles Place barely one year into my new role. That same relentlessness saw me through many more deals, some bigger others smaller.  I have developed a great network and invested in strong relationships over the years. People very often ask me, what drives you?  That inexplicable joy I see on my clients’ face when I close a deal!

These trusted relationships allowed me to successfully entered into joint ventures with both Capitaland and City Developments Limited (CDL) during my stint on the buy side with Wells Fargo (then Wachovia Real Estate).

Taking on Singapore’s leadership role is a significant career progression for me.  Together with my team of experts, we have multiply our profitability six-folds since 2016. We continue to collaborate with our colleagues across markets to deliver strong results for our shareholders. One of my key focus is to accelerate the success of our people. I mentor, nurture and help them become experts, and I like to see the next generation of leaders emerge amongst them. Having three daughters that are coming of age, I understand my people’s aspirations.

Colliers has given me tremendous space to accelerate my success and I like to accelerate yours too. Connect with me!

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