Savills’s Forum Showcases Investment Opportunities in Hotel and Hospitality Industry

• Proeksa Meas
• 3 September 2018
• Local News
• 1909 Views

On 29 August, 2018, Savills Hotel APAC organised a panel discussion where experts presented key trends in the hotel and hospitality industry as well as investment opportunities in Cambodia.

Held at Sofitel Phnom Penh Phokeethra, three guest speakers specialising in the field of hotel and hospitality were featured namely Mr Mauro Gasparotti from Savills Hotel, Mr Christian Puchher from Hilton Worldwide and Mr Kevin Beauvais from InVision Hospitality.

The discussion revealed that world today has a few key trends that will influence investment in the hotel and real estate sectors. These trends include the rise of middle-income earners, the trend of avoiding traditional hotels by young travellers (with youth accounting for up to 24% of the total global population), and the demand for luxury hotels by those middle-income earners.

Speaking on the youth trend, Mr Kevin Beavais, founder and CEO of Invision Hospitality said that innovatively-designed hotels will bevery important in the future in order to attract the youth market.

“With the increases of incomes and the convenience of travelling, more tourists and businesspeople are attracted to Cambodia to see the great temples and historic sites, and beaches, but those travellers are expecting to stay in a better hotel than those regular travellers and they want hotels to stay with them, and demand that the hotel meets their preferences” said Mr Christian PuchherHilton’s Asia Development Director.

However, this forum also presented a perspective for the hotel and hospitality industry in Cambodia. Cambodia is booming, which is a great opportunity for investing in hotel properties, as tourists will continue to visit the country. From 2010 to 2017, international tourism increased from 2.5 million to 5.6 million, an increase of 12.2% year-on-year.

Mauro Gasparotti said that because Cambodia has such potential, the company has been working with local company Keystone Consultant Property to better study the opportunities to invest in hotel projects in Cambodia in the future.