Hotel rates in Asia to remain flat in 2015, according to Amex
The American Express Global Business Travel Forecast 2015 indicated that air and hotel prices will remain stable this year as China’s economic growth pans out, legacy airlines continue to dominate in the face of low-cost upstarts, and local companies remain cautious.
It predicts that international flights fares from APAC will grow between -1 and two per cent for business class; and between 01 and one per cent in economy. Intra-regional flights should do slightly better – one to two per cent for business class, zero to two per cent in economy.
Out of Singapore, business class flights will moderate by between -1 and one per cent, while economy class seats will increase by one per cent at most.
APAC’s hotel pipeline is bursting at the seams and keeps rates in check, and the forecast anticipated lower rate increases for 2015 as compared to 2013-2014.
Mid-range hotels in APAC will hike rates between 0.8 to 3.5 per cent, while upper range hotels will increase prices by 0.7 to 3.5 per cent, driven partially by China’s anti-graft measures that have hit the luxury hotel market hard.
Get the full story at TTG Asia