Insights
Viewpoints with bite
Dig in to the latest research, industry analysis, MarketCompass and premium market reports.
Trending
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A unified vision for tourism readiness ahead of the World Cup
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The signals beneath the headlines
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Fixed Income Market Under Pressure: Implications for Hotel Financing in 2026
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Sustainability Insight
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Green is not always green: A comparison of sustainability certificates in the hotel industry
Points of view
Hotel boom at the expense of the city?
A shopping center becomes a hotel: In Kaiserslautern, ECE, operator of the shopping mall “K in Lautern,” plans to convert vacant retail space into a hotel with 139 rooms. From an investor’s perspective, this is consistent – revitalizing vacancy, using a central downtown location, and continuing a modernization concept. In the local hotel industry, however, the project is causing significant unrest. Existing operators see their economic base threatened, especially since the citywide average occupancy was only 37 percent at times, and a Holiday Inn Express with 146 rooms already opened in 2023. For many smaller providers, another large hotel seems existentially threatening. The Kaiserslautern case highlights a fundamental question: Who bears the risk of new hotel developments, and who decides whether they are allowed to exist at all? This question is particularly important because the hotel industry is not an arbitrarily reversible business. Hotel projects involve high investments, shape the labor market, infrastructure, and cityscape, and cannot be easily repurposed if they fail economically. Vacant hotels are therefore not temporary market adjustments but permanent urban planning burdens that can weaken neighborhoods, reduce tax revenue, and leave overcapacity.
Unlocking hidden value in hotel real estate
Hotel profitability is under increasing pressure due to inflationary headwinds and payroll increases. Relying on traditional income sources is no longer enough: owners, operators and asset managers are now identifying alternative sources both within the hotel and around the site and available land. Strategic thinking on maximising revenue per square metre within the building footprint has led to some creative ideas which crucially do not impact the core business.
Local roots, global scale: five key drivers of management company consolidation
The post COVID recovery did more than repair the U.S. hotel industry – it reshaped where value is being created and who is best positioned to capture it. Nowhere is that clearer than in the Sunbelt and its collar markets, where demographic shifts, corporate relocations and “year round leisure” have combined to produce outsized and often resilient hotel performance.
Five drivers of hotel management company M&A in the Caribbean & Latin America (CALA) region
Independent hotel management companies are experiencing a period of accelerated growth across the Caribbean and Latin America (CALA), including Mexico. What was once a fragmented landscape of small, entrepreneurial operators is evolving into a dynamic ecosystem of increasingly sophisticated regional platforms — and capital providers are taking notice. For owners, investors, and lenders, the trend is not simply about operational preference. It reflects deeper structural forces reshaping the region’s hospitality sector: the need for local expertise, the pursuit of scale, the rapid modernization of technology and processes, and the growing demand for transparency, professionalism, and liquidity. Together, these drivers are creating a compelling case for independent operators as credible, aligned, and value‑enhancing partners for capital.
A unified vision for tourism readiness ahead of the World Cup
In 2026, the world will turn its eyes toward North America. For a month, the FIFA World Cup will become more than a global sporting competition – it will be a defining measure of how cities, nations, and industries craft human experience at scale.
Reports
New Zealand Hotel Performance Focus November 2025
New Zealand’s hotel sector delivered one of its strongest months in several years in November 2025.
New Zealand Hotel Performance Focus October 2025
Performance of New Zealand’s major hotels strengthened again in October, with broad-based demand growth across segments.
New Zealand Hotel Performance Focus September 2025
The New Zealand hotel market recorded another positive month, with nationwide growth in revenue per available room (RevPAR) of 10.7% year on year.
Ireland Hospitality, Tourism & Leisure Market Update
The September 2025 HTL Market Update provides a comprehensive analysis of Ireland’s hospitality sector performance during the summer season, along with investment trends, tourism statistics, and notable industry developments.
DACH Region Hotels & Chains Report 2025
The past year has highlighted both the challenges and the resilience of the DACH hospitality sector. Germany and Austria have had to contend with sluggish growth, high energy costs, and persistent inflation, while broader geopolitical uncertainty – from international trade tensions to the ongoing war in Ukraine – continues to weigh on sentiment. Switzerland, by contrast, has remained comparatively stable, supported by strong domestic demand and its position as a high-value global destination. These differing dynamics illustrate the complexity of the region but also underline its importance as one of Europe’s most resilient markets.
New Zealand Hotel Performance Focus August 2025
Positive news for hotel owners and operators: In August, RevPAR showed a welcome increase, along with the first year-on-year monthly rise in occupancy for 2025.
Australia Key Markets Hotel Market Outlook – Q1 2025
The data as published in the report is based on the economic forecast by Deloitte Access Economics for the June 2025 quarter, historical hotel performance from STR as of June 2025, as well as historical tourism data available as of March 2025, including forecasted domestic and international visitation from Tourism Research Australia (TRA) as at December 2024, which has been adjusted by Horwath HTL.
AsiaPac Shop
Premium Reports
Drawing on our diverse experience and research capabilities, Horwath HTL publishes a variety of studies that assist in analyzing today’s dynamic hotel and tourism markets.
2025 Australia Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Australia Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory F&B Statistics F&B Statistics – By Outlet Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here:
2025 Japan Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 私たちはホスピタリティ・観光・レジャー業界における世界的なコンサルティングリーダーです。戦略策定から実行支援まで、事業全体を網羅したソリューションを提供し、変革を求めるクライアントの皆様が、卓越した成果を達成できるようサポートいたします。 2025 Japan Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. 当社では、顧問委員会および各地域のホテル協会と連携し、アジア太平洋の主要市場におけるホテルの財務・運営パフォーマンスを毎年調査しています。この年次調査は、変化の激しい市場環境を的確に捉えられる、業界において唯一の業績評価ツールです。 Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: 調査は「ホテルユニフォームシステム（USALI）」に基づいて実施され、地域別および料金区分別に以下の主要データを収集しています。 Departmental Revenue & Expenses / 部門別収入・費用 Undistributed Expenses / 非配賦費用 F&B Statistics – By Outlet / 料飲統計（アウトレット別） Spa & Health Club / スパ・ヘルスクラブ Labour Statistics / 労働力統計 Productivity Statistics / 生産性統計 Business Mix Profile / 客層セグメント Reservation & Sales Statistics / 予約・販売統計 Nationality Profile / 国籍別セグメント A summary of the report can be viewed here:
2025 Asia Pacific Serviced Apartment – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Asia Pacific Serviced Apartment – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of serviced apartment in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here:
2025 China Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 China Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here:
2025 Hong Kong Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Hong Kong Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here:
2025 Malaysia Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Malaysia Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Malaysia Annual Study – Summary
2025 Philippines Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Philippines Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Philippines Annual Study – Summary
2025 Vietnam Hotel Industry – Survey of Operations
Bold steps forward We are the global leader in hospitality, tourism and leisure consulting. Our focus is on strategic advisory and solutions across your whole business. We help ambitious clients achieve extraordinary outcomes. 2025 Vietnam Hotel Industry – Survey of OperationsCalendar Year 2024 Working with the Honorary Advisory Board and regional hotel associations, our annual surveys track the financial and operational performance of hotels in key markets across Asia Pacific. Providing a clear view of today’s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: Departmental Revenue & Expenses Undistributed Expenses Rooms Statistics – Inventory & Performance F&B Statistics – By Outlet Spa & Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation & Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Vietnam Annual Study – Summary
Events
Annual Hospitality Conference
29th September – 30th September 2025
Where UK hospitality unites to unlock investment, insight and opportunity 29 – 30 September 2025 Manchester Central Convention Complex, UK
Manchester Central Convention Complex, UK
EXPO REAL
6th October – 8th October 2025
Welcome to EXPO REAL EXPO REAL is the most important trade fair for the real estate industry and therefore offers a fully comprehensive overview of developments, topics, innovations and solutions in the real estate industry. In this way, it provides the necessary orientation in a time of upheaval.
Munich Messe
HICAP
22nd October – 24th October 2025
HICAP has been Asia Pacific’s Essential Hotel Conference for 35 Years For 35 years, HICAP has been the unequaled annual gathering place for Asia-Pacific’s hotel investment community, attracting the most influential owners, developers, lenders, executives, and professional advisors from around the globe. Whether you are looking to make new contacts, strengthen existing relationships, learn or orchestrate a deal, HICAP is the event to attend. CONNECT WITH THE PEOPLE WHO REALLY MATTER AT HICAP Meet the key players in the industry. HICAP draws internationally influential decision-makers, experienced advisors and specialists, and industry pundits: Investors • Owners • Developers • Hotel Chain & Management Companies • Investment Bankers • Lenders • Advisors & Intermediaries • Architects & Designers • Government Tourism Officials • Media
Swissotel Singapore