Savills Hotels sees rapid growth of Asia Pacific Hospitality sector, merges with Alternaty
29 March 2017
The rapid rate of growth in Asia Pacific tourism continues to drive demand for hotel assets in the region. Savills expect that over the five-year period to 2021, foreign arrivals into the region will grow at an average rate of five percent per annum, reaching a combined foreign inbound count of close to 758 million. Regarding investment and sales of hotels in the region, on the back of one of the strongest years for Asia Pacific in 2016, 2017 should see similar investment levels of between US$9 billion and US$10 billion, with Japan, China and Australia continuing to account for most of the transactions.
Importantly, more investors are discussing alternative investment destinations as core investment opportunities grow limited and cap rates continue to tighten, especially in Japan, Hong Kong, Singapore and Australia. Popular targets are now hotels and resorts in Thailand, Vietnam and Indonesia.
Savills Hotels, Asia Pacific has therefore recently announced a merger with Alternaty, a leading hotel advisory practice in Indochina, highlighting Savills' commitment to South East Asia, and strengthening their hotels platform across the region.
Mauro Gasparotti and Rudolf Hever, founders of the award winning boutique hotel consultancy, Alternaty, will join Savills to capitalise on growing hotel opportunities in the region. The partners bring more than 20 years of local knowledge, experience, contacts and an extensive track record in commercial property, hotel and resort development. They have also taken key advisory roles in many major hospitality projects throughout Indochina. The team will leverage Savills’ global platform to establish a full suite of services for hotel owners and investors completing the lifecycle of hotel development from market research, feasibility, project management, asset management, and valuation to due diligence and successful investment sale.
Savills Hotels, Asia Pacific draws strength from its formidable knowledge, local experience and a dedicated approach. Transactions concluded recently by the team include the sales of the Anantara Ubud Bali, Duxton Hotel Saigon and the Hyatt Regency Osaka. In a short period of time, Savills Hotels, Asia Pacific has risen to become a prominent player in the hotel advisory and investment business in the APAC region.
"The merger between the Savills Vietnam office and Alternaty is of significant strategic importance to Savills Hotels, Asia Pacific" commented Chris Mancini, CEO Asia Pacific (ex-greater China). "Alternaty’s strong foothold in Indochina enables the Savills team to engage with the growing number of investors In South East Asia actively seeking hotel and resort assets and will consolidate Savills already well-established investment brokerage platform."
Ray Clement, Managing Director, Savills Hotels, Asia Pacific, says "We have noted a growing interest from investors seeking hotel and resort assets for both development and investment in Indochina. The addition of Mauro and Rudolf to the team is of strategic importance as we aim to provide our clients with the most comprehensive service possible. As opportunities grow limited and cap rates tighten in traditionally popular Asian markets such as Japan, Hong Kong, Singapore and Australia, hotel investors and developers have been focusing over the past three years on strategic and high potential destinations in South East Asia. These markets are harder to navigate, and having experienced and talented people on the ground is an absolute necessity."
The official signing ceremony between Alternaty and Savills Hotels, Asia Pacific was held on 28th March at The Saigon Prince Hotel in Ho Chi Minh City.
Savills Hotels, Asia Pacific
Launched in 2012, there are now seven offices regionally with 28 people providing a range of hospitality advisory services across the Asia Pacific Region. The team is capable of putting forward different asset realisation strategies and disposition services, as well as specific management and consultancy services.
In 2016, Savills valued and advised on US$9.1billion worth of hotel assets in Asia Pacific and sold hotels to the value of US$2.1 billion during the past 24 months in Hong Kong, Japan, Korea, Thailand, Vietnam, Indonesia and Australia.
Hotels, Asia Pacific
+65 6415 7570
Hotels, Asia Pacific
+65 6415 3646