Experts call for more hotel investment amid fast developing tourism industry

• 13 August 2019
• Local News
• 2198 Views

Experts across the real estate industry gathered at the Rosewood Hotel at the start of August to discuss various investment opportunities with a focus on hotel investment as the Cambodian tourism industry sees rapid development.

Co-organised by international real estate agency CBRE Cambodia and legal firm DFDL, the breakfast talk presented opportunities and challenges for investors looking to make real estate investment in Cambodia. (Read more)

Charles Amar, Senior Consultant on Real Estate Practice at DFDL, one of the panelists for the discussion said that Cambodia hotel industry is transiting very fast from private individual hotels to international brand hotels while the country is starting to target more luxury tourists.

“International hotel brands bring a lot of specific tourists because they [tourist] know the hotel, what kind of service they get, and they are sure of the quality, so it brings more tourists. So, I think it’s a good opportunity,” he said.

As Cambodia is aiming to attract around 15 million international passengers by 2030, the country will need an additional 100,000 hotel rooms by 2028 of which 60,000 rooms will be in the luxury segment. Recently, more international brands hotel like Yoo2 Lifestyle Brand and Choice Hotels Asia-Pac have announced their plans to invest in the country. (Read more)

Tean Ly, Managing Partner at Seeva Capital said that hotel investment in Cambodia poses great opportunities but more infrastructure is also needed in order to attract more tourists.

“Important services are involved in attracting tourists; if we can work together to build an infrastructure to have great restaurants, museums and cultural activities… that would attract people,” she said.

The investment opportunities come as more airline companies have opened direct flight routes connecting Cambodia to most cities across Southeast Asia, helping to ease travelling costs and time for tourists wanting to visit Cambodia.

Besides investing in the hotel sector, the discussion also suggested more investment in other sectors.

Marc Townsend, Chairman of CBRE Cambodia said other potential investment area include offices, industry, data centres, solar farms, health care, retirement homes, education centres, standalone parking, and logistics.

 

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