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CBRE 2023 Global Hotels Outlook

By CBRE Hotels
16 May 2023
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CBRE has just released a report on the outlook for the global hotel industry, as we move forward into 2023. They believe the hotel space is poised for a strong recovery, with the widespread normalization of travel patterns anticipated to return market fundamentals to pre-pandemic levels. Given the recent easing of travel restrictions, particularly in China and Japan, and the resumption of economic growth in the APAC region, they expect a return to pre-pandemic RevPAR levels within the year. However, they caution, the industry should remain cautious, as seasonality and various asset type and location performances may not fully revert to pre-pandemic patterns due to sustained work location flexibility, net-migration shifts, and geopolitical, economic, and foreign exchange disparities. Inflation continues to impact the sector by driving up average daily rates, moderating margin gains, and decelerating supply growth to below-average levels.

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