The International Hospitality Investment Forum (IHIF) Asia 2024, hosted by Questex, has signalled a transformative shift in the Asian hospitality market. Held in Hong Kong SAR, the forum brought together over 500 delegates from 27 countries, including 185 hotel investors representing a staggering US$216 billion in hotel investments. This year’s forum underscored the sector’s post-pandemic resilience and reaffirmed Questex’s long-term commitment to fostering growth and innovation in Asia’s dynamic hospitality industry.
A Landmark Event for Global Hospitality Leaders
IHIF Asia 2024 marked a pivotal return to Hong Kong SAR, a region long regarded as a central hub for tourism and hospitality growth. The event provided a critical platform for industry leaders to discuss the future of hospitality investment in Asia. With critical representatives from powerhouse firms such as Gaw Capital Partners, Pro-invest Group, and Nina Hospitality, the forum explored new avenues for sustainable growth, operational excellence, and strategic geographical expansion.
One of the event’s major highlights was the focus on Asia’s burgeoning middle class, rapidly reshaping regional consumer demands. According to Kenneth Gaw, President and Managing Principal at Gaw Capital Partners, hospitality remains a resilient sector, offering a hedge against inflation while maintaining a strong appeal due to evolving consumer trends. Dr Sabine Schaffer, Managing Partner of Pro-invest Group, echoed these sentiments, highlighting that Asia presents some of the most promising investment landscapes globally, particularly in markets like Japan, Southeast Asia, and Hong Kong SAR.
Growth Strategies: New Markets and Operational Innovation
IHIF Asia delved deep into the strategies necessary for long-term success in the hospitality sector. Leading investors and operators shared insights into how geographical expansion could unlock growth, focusing on Japan’s mature yet opportunity-rich market and the up-and-coming tourism boom in Southeast Asia. These regions were hailed as key focus areas for existing brands and newcomers to the market, offering investors the opportunity to capitalize on Asia’s economic growth.
Operational excellence was another key topic, with executives from Ares Management Corporation and Pro-invest Group stressing the importance of in-house management and a hands-on approach to mitigate operational risks. This included strategic capital expenditures (capex) and business fixes to add significant asset value. Nina Hospitality shared its blueprint for success, leveraging in-house management expertise to maximize return on investment while maintaining agility in a fast-changing market.
Further amplifying the forum’s dynamic nature, Sunset Hospitality Group (SHG) announced its expansion through a majority stake acquisition in Maximal Concepts, owners of the acclaimed Mott 32 brand. This acquisition, which adds significant weight to SHG’s portfolio, exemplifies the bold investments shaping the future of hospitality in Asia.
Questex’s Long-Term Vision for Asia
As IHIF Asia concluded, it became clear that Questex remains at the forefront of shaping the future of hospitality investment across Asia. Alexi Khajavi, Group President for Hospitality, Travel, and Wellness at Questex, emphasized the importance of Hong Kong SAR in their strategic roadmap, pointing out that the return to the region forms part of a broader decade-long commitment to the Asian market. Khajavi further highlighted that Questex’s role is to facilitate conversations and spearhead the industry’s ongoing evolution, providing a platform that helps investors and operators navigate an ever-evolving landscape.
In conclusion, IHIF Asia 2024 was more than just a networking event; it was a catalyst for transformative ideas and strategic partnerships that will shape the future of hospitality in Asia. The forum showcased the boundless opportunities available within Asia’s hospitality sector, from geographical expansion strategies to operational innovations and bold new investments. With Questex at the helm, the region is poised to continue its rise as a global leader in hospitality investment.
For more information, visit IHIF Asia.
Written by: Yves Thomas
