The markets that are really growing are defining themselves, Bhushan said. There s a new consumer th

Speakers during the eagles hotel california the Branded select service hotels (formerly known as budget hotels) coming soon to a corner the eagles hotel california near you panel held during last week s Hotel Investment Conference Asia Pacific at the InterContinental the eagles hotel california Hong Kong were optimistic the eagles hotel california the segment will see substantial growth in the region during the next 10 years.
the eagles hotel california This is a segment of hotels that don t provide what a huge segment of guests don t require and don t want to pay for, said moderator Eric Levy, managing director of Singapore-based hospitality investment firm TSI. What s really happening is the industry is institutionalizing (the segment) the eagles hotel california through brands. the eagles hotel california In China, the top 10 budget chains the eagles hotel california represent 60% of the market.
You re in a sector that tends to be more standardized, said Gaurav Bhushan, chief development and investment officer, Accor Asia Pacific, which the executive said has three levels of its Ibis brand in Asia: standard Ibis, Ibis Budget and Ibis Styles. What s going to make the difference is delivering consistent product. That then drives revenue through the distribution of the brand.
There is a great deal of standardization, said Paul Macpherson, president and managing director, Whitbread PLC, which owns and leases the Premier Inn hotels portfolio. It s the balance sheet every day that everyone s thinking about. Profitability is unbelievably important.
Jonas Ogren, area director-Asia for STR Global, told conference attendees that approximately 44% of the 436,740 guestrooms in the active pipeline in Asia fall into the upper-midscale, midscale and economy the eagles hotel california segments, which loosely is where select service properties fall in the hotel industry s hierarchy. STR Global is a sister company of HotelNewsNow.com.
Budget hotels the eagles hotel california in Asia have varied widely, with developments costs, the eagles hotel california excluding land, ranging from as low as $30,000 per key in tertiary markets to $125,000 in developed markets, the panelists said. The costs also differ dramatically based on the country.
Financing is readily available, Bhushan said. This sector is getting the eagles hotel california more and more institutionalized. Some banks take a much more positive view financing this type of product than full-service or luxury hotels.
Tim Hansing, CEO Red Planet Hotels, which owns 17 operating Tune Hotels in Asia, said overleveraging is a death sentence when it comes to budget hotels. Hansing and the other panelists agreed an owner should rarely exceed 55% to 60% financing the eagles hotel california when building a property in that sector.
A key argument for the additional interest in budget hotels is the cost to build which directly relates to a building s footprint and the size of individual guestrooms. The size of the rooms of the brands represented on the panel ranged from 12.5 to 13.5 square meters (Accor s ibis budget level) to 14 square meters (Tune Hotels) to 15 square meters the eagles hotel california (Pop Hotels) to 20 square meters (Premier Inn) to 19 to 21 square meters (Holiday Inn Express).
the eagles hotel california The fine line between offering guests what they want and want they want to pay for is always in the forefront of economy executives minds. That s no different in Asia, where an emerging middle the eagles hotel california class has more people traveling and determining what they expect from a hotel.
The markets that are really growing are defining themselves, Bhushan said. There s a new consumer that didn t travel much before that s coming to these properties. A lot of low-fare carriers are bringing new people.
It s anybody who s been pissed off or ripped off by a hotel, Hansing said. People that are just looking for a value connection a safe comfortable place to stay that s clean. That appeals to everyone.
Marc Steinmeyer, president director of Tauzia Hotel Management, said his company s three brands including the Pop brand in the select-service segment the eagles hotel california don t rely on long-haul traffic. the eagles hotel california The Jakarta-based company has approximately 75 hotels with more than 12,000 guestrooms open or under development.
TAGS: Asia hotels , hotel development , hotel construction , hotel brands , budget hotels , economy hotels , economy segment , HICAP , Eric Levy , TSI , Guarav Bhushan , Accor , Paul Macpherson , Whitbread , Premier Inn , Paul Logan , IHG , Jonas Ogren , STR Global
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