{"id":45912,"date":"2024-10-07T05:47:38","date_gmt":"2024-10-07T05:47:38","guid":{"rendered":"https:\/\/horwathhtl.com\/%e6%b4%9e%e5%af%9f%e5%8a%9b\/"},"modified":"2025-12-13T18:57:18","modified_gmt":"2025-12-13T18:57:18","slug":"%e6%b4%9e%e5%af%9f%e5%8a%9b","status":"publish","type":"page","link":"https:\/\/horwathhtl.com\/zh-hans\/%e6%b4%9e%e5%af%9f%e5%8a%9b\/","title":{"rendered":"\u6d1e\u5bdf\u529b"},"content":{"rendered":"<div style=\"--hhtl-padding-x: 6; --hhtl-padding-top: 12; --hhtl-padding-bottom: 6;\" class=\"hhtl-section-intro hhtl-section-intro-half flex hhtl-margin hhtl-padding\">\n  <div class=\"w-full\" >\n        <div style=\" text-align: start;\">\n                  <h3 class=\"text-hhtl-neutral-500 hhtl-animate-global-top\">\u6d1e\u5bdf\u529b<\/h3>\n                      <h1 class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-1\">\u6709\u8bf4\u670d\u529b\u7684\u89c2\u70b9<\/h1>\n                      <div class=\"text-hhtl-neutral-600\">\n              <p class=\"b1 hhtl-animate-global-top hhtl-animate-global-delay-2\">\u6df1\u5165\u4e86\u89e3\u6700\u65b0\u7814\u7a76\u3001\u884c\u4e1a\u5206\u6790\u3001MarketCompass \u548c\u9ad8\u7ea7\u5e02\u573a\u62a5\u544a\u3002<\/p>            <\/div>\n              <\/div>\n  <\/div>\n<\/div><div style=\"--hhtl-padding-top: 0; --hhtl-padding-bottom: 2;\" class=\"hhtl-links hhtl-padding\">\n  <div>\n        <div style=\"--hhtl-padding-top: 0; --hhtl-padding-bottom: 0; --hhtl-padding-left: 6; --hhtl-padding-right: 4;\" class=\"hhtl-padding\">\n            <div class=\"flex items-center hhtl-animate-global-top hhtl-links-align-left\">\n                    <div style=\"--hhtl-margin-right: 1; --hhtl-margin-bottom: 0;\" class=\"hhtl-margin hhtl-links-label hhtl-links-label-font-normal hhtl-links-label-large\">\u8df3\u8f6c\u5230<\/div>\n                        <div class=\"flex items-center hhtl-links-items\">\n              <a href=\"#insights-viewpoints\" class=\"hhtl-links-item-button hhtl-links-item-small\">\u89c2\u70b9<\/a><a href=\"#insights-reports\" class=\"hhtl-links-item-button hhtl-links-item-small\">\u62a5\u544a<\/a><a href=\"#shop-marketcompass\" class=\"hhtl-links-item-button hhtl-links-item-small\">MarketCompass<\/a><a href=\"#shop-asiapac\" class=\"hhtl-links-item-button hhtl-links-item-small\">AsiaPac Market Reports<\/a><a href=\"#events\" class=\"hhtl-links-item-button hhtl-links-item-small\">Events<\/a>            <\/div>\n                  <\/div>\n          <\/div>\n  <\/div>\n<\/div><div style=\"--hhtl-padding-top: 4; --hhtl-padding-bottom: 4; --hhtl-padding-x: 6;\" class=\"hhtl-insights-recommended hhtl-padding\">\n  <div>\n        <div>\n                  <h1 style=\"--hhtl-margin-y: 0;\" class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-0\">\u8d8b\u52bf  <\/h1>\n              <\/div>\n              <div style=\"--hhtl-margin-top: 6;\" class=\"grid grid-cols-1 md:grid-cols-4 hhtl-margin\">\n            <div style=\"--hhtl-min-height: 40;\" class=\"md:col-span-3 hhtl-min-height relative\">\n                                <div data-id=\"43064\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/10\/dach-region-report-2025.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center active\"><\/div>\n                                    <div data-id=\"41121\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/09\/saleh-1DQkdJbRHhE-unsplash-scaled.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                                    <div data-id=\"40996\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/08\/umair-dingmar-GAr-D2OQPxQ-unsplash.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                                    <div data-id=\"8071\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/10\/getty-images-Sn4tfD6x_v8-unsplash-e1736786221872.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                                    <div data-id=\"43263\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/10\/alexandre-brondino-8l36KcM8_do-unsplash-scaled-e1759851400277.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                                    <div data-id=\"39783\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/07\/uk_edinburgh_forth-bridge-1500x1200-1-scaled.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                                    <div data-id=\"40182\" style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/08\/mauricio-guardiano-dC38lL2bBTQ-unsplash-scaled.jpg');\" class=\"hhtl-insights-recommended-insight-image absolute inset-0 bg-cover bg-center\"><\/div>\n                              <\/div>\n            <div>\n              <div style=\"grid-template-columns: auto minmax(0, 1fr);\" class=\"grid\">\n                                    <a data-id=\"43064\" href=\"https:\/\/horwathhtl.com\/publication\/dach-region-hotels-chains-report-2025\/\" class=\"hhtl-insights-recommended-insight contents active\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>1<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Report                                  <\/div>\n                                                                  <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">DACH Region Hotels &amp; Chains Report 2025<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"41121\" href=\"https:\/\/horwathhtl.com\/insight\/lenders-pick-the-winners-in-the-uk-hotel-market\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>2<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">Lenders pick the winners in the UK hotel market<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"40996\" href=\"https:\/\/horwathhtl.com\/insight\/smart-exposure-optimising-hotel-market-combinations-for-returns-stability-and-balance\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>3<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">Smart exposure: optimising hotel market combinations for returns, stability and balance\u00a0<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"8071\" href=\"https:\/\/horwathhtl.com\/insight\/the-short-term-rental-market-summary\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>4<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Report                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">The Short-Term Rental Market: The Outlook<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"43263\" href=\"https:\/\/horwathhtl.com\/publication\/ireland-hospitality-tourism-leisure-market-update-2\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>5<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                                  <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Report                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">Ireland Hospitality, Tourism &amp; Leisure Market Update<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"39783\" href=\"https:\/\/horwathhtl.com\/insight\/the-shifting-fundamentals-of-the-uk-hotel-market\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>6<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">The shifting fundamentals of the UK hotel market<\/p>\n                      <\/div>\n                    <\/a>\n                                        <a data-id=\"40182\" href=\"https:\/\/horwathhtl.com\/insight\/the-fragility-of-tourism-destinations-and-the-importance-of-a-resilient-mix\/\" class=\"hhtl-insights-recommended-insight contents\">\n                      <div style=\"--hhtl-padding-x: 2;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <h3>7<\/h3>\n                      <\/div>\n                      <div style=\"--hhtl-padding-x: 1;\" class=\"hhtl-padding border-b border-b-hhtl-neutral-50\">\n                        <div class=\"flex flex-wrap\">\n                                                            <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.75; --hhtl-padding-y: 0.25; --hhtl-margin-right: 0.75; --hhtl-margin-bottom: 0.75\" class=\"hhtl-padding hhtl-margin caption rounded-md cursor-pointer\">\n                                    Viewpoint                                  <\/div>\n                                                        <\/div>\n                        <p class=\"font-bold\">The fragility of tourism destinations and the importance of a resilient mix\u00a0<\/p>\n                      <\/div>\n                    <\/a>\n                                  <\/div>\n            <\/div>\n          <\/div>\n          <\/div>\n<\/div>\n    <div style=\"--hhtl-padding-top: 0; --hhtl-padding-bottom: 10;\" class=\"hhtl-padding hhtl-insights-grid\">\n      <div id=\"insights-viewpoints\" >\n        <input type=\"hidden\" name=\"hhtl-random-seed\" value=\"41\" \/>\n        <input type=\"hidden\" name=\"hhtl-no-of-posts\" value=\"5\" \/>\n        <input type=\"hidden\" name=\"hhtl-load-more-page-size\" value=\"\" \/>\n        <input type=\"hidden\" name=\"hhtl-no-of-columns\" value=\"3\" \/>\n        <input type=\"hidden\" name=\"hhtl-sort-by\" value=\"post_date\" \/>\n        <input type=\"hidden\" name=\"hhtl-sort-order\" value=\"desc\" \/>\n        <input type=\"hidden\" name=\"hhtl-offices-include-local-offices\" value=\"1\" \/>\n        <input type=\"hidden\" name=\"hhtl-current-office-location\" value=\"\" \/>\n                      <input type=\"hidden\" name=\"hhtl-filters-types\" value=\"[131]\" \/>\n                <div style=\"--hhtl-padding-x: 6;\" class=\"flex hhtl-animate-global-top hhtl-back-to-top hhtl-back-to-top-left hhtl-padding\">\n      <a href=\"#hhtl-back-to-top\" class=\"flex items-center\">\n        <svg style=\"--hhtl-height: 0.8;\" class=\"hhtl-size hhtl-back-to-top-arrow\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n          <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n        <\/svg>\n        Back to top      <\/a>\n    <\/div>\n                  <div style=\"--hhtl-padding-x: 6;\" class=\"hhtl-padding\">\n                                      <h1 style=\"--hhtl-margin-y: 0;\" class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-0\">\u89c2\u70b9<\/h1>\n                                  <\/div>\n                                  <div style=\"--hhtl-margin-top: 6; --hhtl-margin-y: 0; --hhtl-padding-x: 6; --hhtl-padding-bottom: 1.25; --hhtl-grid-gap: 1.25;\" class=\"hhtl-insights-grid-items hhtl-insights-grid-items-3 hhtl-margin hhtl-padding hhtl-grid-gap grid grid-cols-[repeat(var(--no-of-cols,_4),_minmax(0,_1fr))]\">\n                    <a href=\"https:\/\/horwathhtl.com\/zh-hans\/insight\/mexican-hotels-vs-otas-time-to-reclaim-distribution\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item-col-span-2 hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/getty-images-tJS-FTuB8ug-unsplash-scaled-e1773673030337-1024x907.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Viewpoint                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Mexican hotels vs. OTAs: time to reclaim distribution<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Mexico\u2019s hotel industry is experiencing one of the strongest recoveries in the global hospitality market. Tourism contributed 8.6% of national GDP in 2023, supporting over 4.9 million jobs, and the country welcomed 27 million international visitors in 2024, including 22.3 million arriving by air.         <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/01\/Profile-Image_Paul-Ingebretsen.png\" alt=\"Paul H. Ingebretsen\" \/>\n              <div class=\"caption\">\n                <div>Paul H. Ingebretsen<\/div>\n                                      <div class=\"font-normal\">\n                        Asset Management Director, Mexico                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/insight\/the-loyalty-paradox-when-ai-books-the-room-who-owns-the-guest-relationship\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/AI-Booking2-1024x818.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Viewpoint                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">The\u00a0loyalty\u00a0paradox:\u00a0when\u00a0AI\u00a0books the\u00a0room,\u00a0who\u00a0owns the\u00a0guest\u00a0relationship?<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          A traveler planning a three-night stay opens a chat window and types a request that sounds less like a search query and more like a conversation with a trusted concierge: a quiet room, a decent gym, a walkable neighborhood, flexible cancellation, a late arrival. The assistant asks a question or two, then offers a shortlist with crisp tradeoffs and a tone of calm authority. The traveler picks one. The assistant replies: ready when you are. Book?         <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/10\/Bryan-Young.png\" alt=\"Bryan Younge\" \/>\n              <div class=\"caption\">\n                <div>Bryan Younge<\/div>\n                                      <div class=\"font-normal\">\n                        Managing Partner, USA                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/insight\/prishtinas-hotel-moment-opportunity-with-conditions\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-3\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/Prishtina-1500-1024x816.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Viewpoint                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Prishtina\u2019s hotel moment, opportunity with conditions<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Kosovo\u2019s tourism has expanded strongly in the post pandemic period, supported by macroeconomic improvements, diaspora engagement, and rising international visitation, yet Prishtina remains, above all, a gateway and business hub. That framing is useful because it sets expectations correctly. The capital is not primarily competing as a long-stay leisure destination. It functions as a connector and a centre of gravity for business, institutions, and international organisations, translating into demand that can be steady, but often short in duration and sensitive to convenience and value.         <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Janko-Adam-1.png\" alt=\"Adam Janko\" \/>\n              <div class=\"caption\">\n                <div>Adam Janko<\/div>\n                                      <div class=\"font-normal\">\n                        Senior Consultant, Croatia                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/insight\/costa-rica-shifts-from-tourism-icon-to-diversified-investment-powerhouse\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/adrian-eriksson-kysT00dgrpI-unsplash-1024x768.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Viewpoint                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Costa Rica shifts from tourism icon to diversified investment powerhouse<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Costa Rica has built one of the most recognizable tourism identities in the Americas, grounded in sustainability, biodiversity, and nature-based experiences. For decades, this positioning favored low-density, experiential hospitality formats, often at the boutique or eco-luxury end of the spectrum.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/Deike-Freytag-Profile-Image.png\" alt=\"Deike Freytag\" \/>\n              <div class=\"caption\">\n                <div>Deike Freytag<\/div>\n                                      <div class=\"font-normal\">\n                        Costa Rica Country Manager, Dominican Republic                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/insight\/impact-of-employee-turnover-on-profitability-in-the-austrian-hospitality-industry\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/iStock-2183861914-1024x665.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #b14fc5; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Viewpoint                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Impact of employee turnover on profitability in the Austrian hospitality industry<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Whether hiking in the alpine regions, skiing in winter, or exploring cities, Austria offers a diverse range of experiences that reflect its geographical and cultural richness. It highlights a unique balance between rich history and architectural diversity, and natural beauty and scenic landscapes. \r\nWith 32,2 million registered tourist arrivals in 2024, Austria ranked among the most popular travel destinations worldwide. The country\u2019s high figures in tourist arrivals have notably contributed to the economy, with the hospitality and tourism industry accounting for around 4.7% of the country\u2019s GDP in 2024.         <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Brigitte-T-Gruber.png\" alt=\"Brigitte T. Gruber\" \/>\n              <div class=\"caption\">\n                <div>Brigitte T. Gruber<\/div>\n                                      <div class=\"font-normal\">\n                        Managing Partner, Austria                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n                <\/div>\n                                  <div style=\"--hhtl-padding-y: 6;\" class=\"bg-hhtl-neutral-50 hhtl-padding\">\n                      <div class=\"flex justify-center overflow-hidden hhtl-animate-global-top\">\n                            <a style=\"--hhtl-margin-top: 3.125; --hhtl-margin-bottom: 0;\" class=\"no-underline hhtl-link-button hhtl-margin group hhtl-animate-global-middle hhtl-animate-global-delay-0\" href=\"https:\/\/horwathhtl.com\/insights-archive\/\">\n      <div class=\"flex items-center\">\n        <span style=\"--hhtl-font-size: 0.875; --hhtl-line-height: 1.25;\" class=\"hhtl-link-button-text hhtl-text font-bold tracking-sm-2\">Discover more <\/span>\n        <div class=\"hhtl-link-button-arrow-container\">\n                          <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size group-hover:animate-point-left\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                  <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n                <\/svg>\n                      <\/div>\n      <\/div>\n    <\/a>\n                        <\/div>\n                    <\/div>\n                                  <div class=\"hhtl-no-insights hidden text-center\">\n                  No insights match your filter criteria                <\/div>\n                  <\/div>\n    <\/div>\n      <div style=\"--hhtl-padding-top: 0; --hhtl-padding-bottom: 10;\" class=\"hhtl-padding hhtl-insights-grid\">\n      <div id=\"insights-reports\" >\n        <input type=\"hidden\" name=\"hhtl-random-seed\" value=\"35\" \/>\n        <input type=\"hidden\" name=\"hhtl-no-of-posts\" value=\"7\" \/>\n        <input type=\"hidden\" name=\"hhtl-load-more-page-size\" value=\"\" \/>\n        <input type=\"hidden\" name=\"hhtl-no-of-columns\" value=\"4\" \/>\n        <input type=\"hidden\" name=\"hhtl-sort-by\" value=\"post_date\" \/>\n        <input type=\"hidden\" name=\"hhtl-sort-order\" value=\"desc\" \/>\n        <input type=\"hidden\" name=\"hhtl-offices-include-local-offices\" value=\"1\" \/>\n        <input type=\"hidden\" name=\"hhtl-current-office-location\" value=\"\" \/>\n                      <input type=\"hidden\" name=\"hhtl-filters-types\" value=\"[130]\" \/>\n                <div style=\"--hhtl-padding-x: 6;\" class=\"flex hhtl-animate-global-top hhtl-back-to-top hhtl-back-to-top-left hhtl-padding\">\n      <a href=\"#hhtl-back-to-top\" class=\"flex items-center\">\n        <svg style=\"--hhtl-height: 0.8;\" class=\"hhtl-size hhtl-back-to-top-arrow\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n          <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n        <\/svg>\n        Back to top      <\/a>\n    <\/div>\n                  <div style=\"--hhtl-padding-x: 6;\" class=\"hhtl-padding\">\n                                      <h1 style=\"--hhtl-margin-y: 0;\" class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-0\">\u62a5\u544a  <\/h1>\n                                  <\/div>\n                                  <div style=\"--hhtl-margin-top: 6; --hhtl-margin-y: 0; --hhtl-padding-x: 6; --hhtl-padding-bottom: 1.25; --hhtl-grid-gap: 1.25;\" class=\"hhtl-insights-grid-items hhtl-insights-grid-items-4 hhtl-margin hhtl-padding hhtl-grid-gap grid grid-cols-[repeat(var(--no-of-cols,_4),_minmax(0,_1fr))]\">\n                    <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/leisure-leads-business-lags\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item-col-span-2 hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/iStock-2169995482-1024x683.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Leisure Leads, Business Lags<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          International visitor data showed that New Zealand\u2019s recovery in 2025 was led by holidaymakers, with business travel still well behind.\r\n\r\nDownload the report below to read our full analysis.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Wim-Ruepert.png\" alt=\"Wim Ruepert\" \/>\n              <div class=\"caption\">\n                <div>Wim Ruepert<\/div>\n                                      <div class=\"font-normal\">\n                        Director, New Zealand                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/bali-hotel-branded-residences-2026\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/Regent-72-1440x810-1-1024x576.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Bali Hotel &amp; Branded Residences 2026<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Bali&#8217;s hotel and real estate market demonstrated remarkable resilience in 2025, transitioning from a post-pandemic recovery phase into a period of sustained, mature performance. \r\nThis annual report produced by Horwath HTL in partnership with the Bali Hotels Association and C9 Hotelworks &#8211; delivers a comprehensive analysis of tourism arrivals, hotel performance by rate tier and location, new supply trends, and the evolving branded residences landscape.         <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Matt-Gebbie-1.png\" alt=\"Matt Gebbie\" \/>\n              <div class=\"caption\">\n                <div>Matt Gebbie<\/div>\n                                      <div class=\"font-normal\">\n                        Director, Indonesia                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/australia-key-markets-hotel-market-outlook-q4-2025\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-3\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/HMO-DecQ2025-1024x574.png');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Australia Key Markets Hotel Market Outlook &#8211; Q4 2025<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          The data as published in the report is based on the economic forecast by Deloitte Access Economics for the December 2025 quarter, historical hotel performance from STR as of December 2025, as well as historical tourism data available as of September 2025, including forecasted domestic and international visitation from Tourism Research Australia (TRA) as at December 2025, which has been adjusted by Horwath HTL.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Damian-circle.png\" alt=\"Damien Little\" \/>\n              <div class=\"caption\">\n                <div>Damien Little<\/div>\n                                      <div class=\"font-normal\">\n                        Director, Australia                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/new-zealand-hotel-performance-focus-february-2026\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-4\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/iStock-1484136409-1024x354.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">New Zealand Hotel Performance Focus February 2026<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          February was a standout month for the New Zealand hotel market, supported by strong international arrivals, a full events calendar, and favourable\u00a0timing around public holidays.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Wim-Ruepert.png\" alt=\"Wim Ruepert\" \/>\n              <div class=\"caption\">\n                <div>Wim Ruepert<\/div>\n                                      <div class=\"font-normal\">\n                        Director, New Zealand                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/portugal-hotel-chains-report-2026\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/03\/iStock-1667136212-e1772637775653-894x1024.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Portugal Hotel &amp; Chains Report 2026<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Portugal&#8217;s hospitality market continues to mature with confidence, as internationalisation accelerates and the country cements its reputation as a premium European destination. \r\nInternational operators are reshaping the branded landscape at pace, while institutional investment remains robust and the pipeline of new developments signals sustained long-term commitment to the market.\r\n        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Jose-Gil-Duarte2-1.png\" alt=\"Jos\u00e9 Gil Duarte\" \/>\n              <div class=\"caption\">\n                <div>Jos\u00e9 Gil Duarte<\/div>\n                                      <div class=\"font-normal\">\n                        Managing Director, Portugal                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/new-zealand-hotel-performance-focus-dec-25-jan-26\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/iStock-2151296201-1024x683.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">New Zealand Hotel Performance Focus December 2025-January 2026<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          The New Zealand hotel sector delivered a strong summer performance over December 2025 and\u00a0January 2026, with both demand and pricing improving across most major markets.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Wim-Ruepert.png\" alt=\"Wim Ruepert\" \/>\n              <div class=\"caption\">\n                <div>Wim Ruepert<\/div>\n                                      <div class=\"font-normal\">\n                        Director, New Zealand                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n      <a href=\"https:\/\/horwathhtl.com\/zh-hans\/publication\/india-hotel-market-review-2025\/\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-insights-grid-item no-underline hhtl-grid-gap grid grid-rows-subgrid row-span-4 hhtl-animate-global-top hhtl-animate-global-delay-3\">\n      <div style=\"grid-area: 1 \/ 1 \/ 5 \/ 2;\" class=\"bg-white\"><\/div>\n      <div style=\"grid-area: 1 \/ 1 \/ 3 \/ 2\">\n        <div class=\"relative overflow-hidden hhtl-insights-grid-image-container\">\n          <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2026\/02\/iStock-2161498980-1024x768.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-insights-grid-image\"><\/div>\n                        <div style=\"--hhtl-padding-x: 1; --hhtl-padding-top: 1;\" class=\"absolute hhtl-padding flex w-full\">\n                                      <div style=\"background-color: #0050ad; color: #ffffff; --hhtl-padding-x: 0.4; --hhtl-padding-y: 0.2; --hhtl-margin-top: 0; --hhtl-margin-left: 0.6;\" class=\"h-fit hhtl-padding hhtl-margin rounded caption\">\n                        Report                      <\/div>\n                                  <\/div>\n                      <\/div>\n        <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">India Hotel Market Review 2025<\/h3>\n      <\/div>\n      <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding\">\n        <p class=\"line-clamp-3 caption font-light\">\n          Horwath HTL\u2019s India Hotel Market Review 2025 provides a year-end analysis of India\u2019s hotel market performance, combining CoStar performance data with Horwath HTL\u2019s supply research and market insights. \r\nThe report reviews national trends and key city performance, highlights the opportunities and challenges shaping hotel owners, investors, developers and operators, and outlines how India\u2019s hotel sector continues to grow despite global and domestic disruptions.        <\/p>\n      <\/div>\n      <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"hhtl-padding hhtl-margin\">\n                    <div style=\"--hhtl-margin-top: 2; --hhtl-margin-bottom: 1;\" class=\"flex items-center hhtl-margin\">\n              <img decoding=\"async\" style=\"--hhtl-width: 2.5; --hhtl-margin-top: 0; --hhtl-margin-bottom: 0; --hhtl-margin-right: 1;\" class=\"hhtl-size hhtl-margin\" src=\"https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/10\/Vijay-Thacker.png\" alt=\"Vijay Thacker\" \/>\n              <div class=\"caption\">\n                <div>Vijay Thacker<\/div>\n                                      <div class=\"font-normal\">\n                        Managing Director, India                      <\/div>\n                                  <\/div>\n            <\/div>\n                  <\/div>\n    <\/a>\n                <\/div>\n                                  <div style=\"--hhtl-padding-y: 6;\" class=\"bg-hhtl-neutral-50 hhtl-padding\">\n                      <div class=\"flex justify-center overflow-hidden hhtl-animate-global-top\">\n                            <a style=\"--hhtl-margin-top: 3.125; --hhtl-margin-bottom: 0;\" class=\"no-underline hhtl-link-button hhtl-margin group hhtl-animate-global-middle hhtl-animate-global-delay-0\" href=\"https:\/\/horwathhtl.com\/insights-archive\/\">\n      <div class=\"flex items-center\">\n        <span style=\"--hhtl-font-size: 0.875; --hhtl-line-height: 1.25;\" class=\"hhtl-link-button-text hhtl-text font-bold tracking-sm-2\">Discover more <\/span>\n        <div class=\"hhtl-link-button-arrow-container\">\n                          <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size group-hover:animate-point-left\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                  <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n                <\/svg>\n                      <\/div>\n      <\/div>\n    <\/a>\n                        <\/div>\n                    <\/div>\n                                  <div class=\"hhtl-no-insights hidden text-center\">\n                  No insights match your filter criteria                <\/div>\n                  <\/div>\n    <\/div>\n    <div data-uid=\"hhtl-block-68c2695c210b9\" style=\"--hhtl-padding-x: 6; --hhtl-padding-top: 0; --hhtl-padding-bottom: 15;\" class=\"hhtl-shopify-products hhtl-padding\">\n    <div id=\"shop-asiapac\" >\n          <div class=\"flex hhtl-animate-global-top hhtl-back-to-top hhtl-back-to-top-left\">\n      <a href=\"#hhtl-back-to-top\" class=\"flex items-center\">\n        <svg style=\"--hhtl-height: 0.8;\" class=\"hhtl-size hhtl-back-to-top-arrow\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n          <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n        <\/svg>\n        Back to top      <\/a>\n    <\/div>\n          <div style=\"text-align: start\">\n                      <h3 class=\"text-hhtl-neutral-500 hhtl-animate-global-top\">\u4e9a\u592a\u5546\u5e97<\/h3>\n                          <h1 style=\"--hhtl-margin-y: 0;\" class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-1\">\u9ad8\u7ea7\u62a5\u544a<\/h1>\n                          <div style=\"--hhtl-margin-y: 0\" class=\"hhtl-animate-global-top hhtl-animate-global-delay-2\">\n                <p class=\"b1\">\u51ed\u501f\u6211\u4eec\u4e30\u5bcc\u7684\u7ecf\u9a8c\u548c\u7814\u7a76\u80fd\u529b\uff0cHorwath HTL \u53d1\u5e03\u4e86\u5404\u79cd\u7814\u7a76\u62a5\u544a\uff0c\u5e2e\u52a9\u5206\u6790\u5f53\u4eca\u52a8\u6001\u7684\u9152\u5e97\u548c\u65c5\u6e38\u5e02\u573a\u3002<\/p>              <\/div>\n                  <\/div>\n                <input type=\"hidden\" id=\"hhtl-shopify-products-has-next-page\" name=\"hhtl-shopify-products-has-next-page\" value=\"1\" \/>\n          <input type=\"hidden\" id=\"hhtl-shopify-products-cursor\" name=\"hhtl-shopify-products-cursor\" value=\"eyJsYXN0X2lkIjoxNTU5NzY1MTY1NzA1MywibGFzdF92YWx1ZSI6IjIwMjUtMDktMDYgMDI6NDI6MTMuMDAwMDAwIn0=\" \/>\n          <div style=\"--hhtl-margin-top: 6; --hhtl-grid-gap: 1.25; --no-of-cols: 4;\" class=\"hhtl-shopify-products-items hhtl-shopify-products-items-4 grid grid-cols-[repeat(var(--no-of-cols,_4),_minmax(0,_1fr))] hhtl-grid-gap hhtl-margin\">\n              <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-australia-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/AU-25-Cover.png?v=1760941593');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Australia Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics &#8211; Inventory F&#038;B Statistics F&#038;B Statistics &#8211; By Outlet Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here:      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-japan-hotel-industry-survey-of-operations-copy\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/JP-25-Cover.png?v=1760507652');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Japan Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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. \u79c1\u305f\u3061\u306f\u30db\u30b9\u30d4\u30bf\u30ea\u30c6\u30a3\u30fb\u89b3\u5149\u30fb\u30ec\u30b8\u30e3\u30fc\u696d\u754c\u306b\u304a\u3051\u308b\u4e16\u754c\u7684\u306a\u30b3\u30f3\u30b5\u30eb\u30c6\u30a3\u30f3\u30b0\u30ea\u30fc\u30c0\u30fc\u3067\u3059\u3002\u6226\u7565\u7b56\u5b9a\u304b\u3089\u5b9f\u884c\u652f\u63f4\u307e\u3067\u3001\u4e8b\u696d\u5168\u4f53\u3092\u7db2\u7f85\u3057\u305f\u30bd\u30ea\u30e5\u30fc\u30b7\u30e7\u30f3\u3092\u63d0\u4f9b\u3057\u3001\u5909\u9769\u3092\u6c42\u3081\u308b\u30af\u30e9\u30a4\u30a2\u30f3\u30c8\u306e\u7686\u69d8\u304c\u3001\u5353\u8d8a\u3057\u305f\u6210\u679c\u3092\u9054\u6210\u3067\u304d\u308b\u3088\u3046\u30b5\u30dd\u30fc\u30c8\u3044\u305f\u3057\u307e\u3059\u3002 2025 Japan Hotel Industry &#8211; 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\u2019s dynamic landscape, the annual surveys are the only performance diagnostic tool of their type in the market. \u5f53\u793e\u3067\u306f\u3001\u9867\u554f\u59d4\u54e1\u4f1a\u304a\u3088\u3073\u5404\u5730\u57df\u306e\u30db\u30c6\u30eb\u5354\u4f1a\u3068\u9023\u643a\u3057\u3001\u30a2\u30b8\u30a2\u592a\u5e73\u6d0b\u306e\u4e3b\u8981\u5e02\u5834\u306b\u304a\u3051\u308b\u30db\u30c6\u30eb\u306e\u8ca1\u52d9\u30fb\u904b\u55b6\u30d1\u30d5\u30a9\u30fc\u30de\u30f3\u30b9\u3092\u6bce\u5e74\u8abf\u67fb\u3057\u3066\u3044\u307e\u3059\u3002\u3053\u306e\u5e74\u6b21\u8abf\u67fb\u306f\u3001\u5909\u5316\u306e\u6fc0\u3057\u3044\u5e02\u5834\u74b0\u5883\u3092\u7684\u78ba\u306b\u6349\u3048\u3089\u308c\u308b\u3001\u696d\u754c\u306b\u304a\u3044\u3066\u552f\u4e00\u306e\u696d\u7e3e\u8a55\u4fa1\u30c4\u30fc\u30eb\u3067\u3059\u3002 Using Uniform System of Accounts for the Lodging Industry, key data captured includes the following, by location and by rate category: \u8abf\u67fb\u306f\u300c\u30db\u30c6\u30eb\u30e6\u30cb\u30d5\u30a9\u30fc\u30e0\u30b7\u30b9\u30c6\u30e0\uff08USALI\uff09\u300d\u306b\u57fa\u3065\u3044\u3066\u5b9f\u65bd\u3055\u308c\u3001\u5730\u57df\u5225\u304a\u3088\u3073\u6599\u91d1\u533a\u5206\u5225\u306b\u4ee5\u4e0b\u306e\u4e3b\u8981\u30c7\u30fc\u30bf\u3092\u53ce\u96c6\u3057\u3066\u3044\u307e\u3059\u3002 Departmental Revenue &#038; Expenses \/ \u90e8\u9580\u5225\u53ce\u5165\u30fb\u8cbb\u7528 Undistributed Expenses \/ \u975e\u914d\u8ce6\u8cbb\u7528 F&#038;B Statistics &#8211; By Outlet \/ \u6599\u98f2\u7d71\u8a08\uff08\u30a2\u30a6\u30c8\u30ec\u30c3\u30c8\u5225\uff09 Spa &#038; Health Club \/ \u30b9\u30d1\u30fb\u30d8\u30eb\u30b9\u30af\u30e9\u30d6 Labour Statistics \/ \u52b4\u50cd\u529b\u7d71\u8a08 Productivity Statistics \/ \u751f\u7523\u6027\u7d71\u8a08 Business Mix Profile \/ \u5ba2\u5c64\u30bb\u30b0\u30e1\u30f3\u30c8 Reservation &#038; Sales Statistics \/ \u4e88\u7d04\u30fb\u8ca9\u58f2\u7d71\u8a08 Nationality Profile \/ \u56fd\u7c4d\u5225\u30bb\u30b0\u30e1\u30f3\u30c8 A summary of the report can be viewed here:      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-asia-pacific-serviced-apartment-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-3\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/APSA-25-Cover.png?v=1759185865');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Asia Pacific Serviced Apartment &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here:      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-china-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-4\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/CN-25-Cover.jpg?v=1762321000');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 China Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here:      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-hong-kong-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-5\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/HK-25-Cover.jpg?v=1759187857');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Hong Kong Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here:      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-malaysia-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-6\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/25-MY-Cover.png?v=1759129317');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Malaysia Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Malaysia Annual Study &#8211; Summary      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-philippines-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-7\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/25-PH-Cover.png?v=1759129480');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Philippines Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Philippines Annual Study &#8211; Summary      <\/p>\n    <\/div>\n  <\/a>\n    <a href=\"https:\/\/horwath-htl.myshopify.com\/products\/2025-vietnam-hotel-industry-survey-of-operations\" target=\"_blank\" style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-shopify-products-item hhtl-grid-gap grid grid-rows-subgrid row-span-3 no-underline border border-hhtl-neutral-50 hhtl-animate-global-top hhtl-animate-global-delay-8\">\n    <div style=\"grid-area: 1 \/ 1 \/ 4 \/ 2;\" class=\"bg-hhtl-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2;\">\n      <div class=\"relative overflow-hidden hhtl-shopify-products-image-container hhtl-shopify-products-image-container-asiapac\">\n        <div style=\"background-image: url('https:\/\/cdn.shopify.com\/s\/files\/1\/0931\/2832\/7517\/files\/VN-25-Cover.png?v=1762326770');\" class=\"absolute inset-0 bg-cover bg-center hhtl-shopify-products-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">2025 Vietnam Hotel Industry &#8211; Survey of Operations<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-bottom: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        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 &#8211; 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\u2019s 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 &#038; Expenses Undistributed Expenses Rooms Statistics \u2013 Inventory &#038; Performance F&#038;B Statistics &#8211; By Outlet Spa &#038; Health Club Labour Statistics Productivity Statistics Business Mix Profile Reservation &#038; Sales Statistics Nationality Profile A summary of the report can be viewed here: 2025 Vietnam Annual Study &#8211; Summary      <\/p>\n    <\/div>\n  <\/a>\n            <\/div>\n                        <div class=\"flex justify-center overflow-hidden hhtl-animate-global-top\">\n                    <a style=\"--hhtl-margin-top: 3.125; --hhtl-margin-bottom: 0;\" class=\"no-underline hhtl-link-button hhtl-margin group down hhtl-shopify-products-load-more hhtl-animate-global-middle hhtl-animate-global-delay-0\" href=\"javascript:void(0);\" data-id=\"45912\">\n      <div class=\"flex items-center\">\n        <span style=\"--hhtl-font-size: 0.875; --hhtl-line-height: 1.25;\" class=\"hhtl-link-button-text hhtl-text font-bold tracking-sm-2\">\u52a0\u8f7d\u66f4\u591a\u4ea7\u54c1<\/span>\n        <div class=\"hhtl-link-button-arrow-container\">\n                          <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size group-hover:animate-load-more\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n                <path d=\"M8.5 7.5V4H7.5V7.5H4V8.5H7.5V12H8.5V8.5H12V7.5H8.5Z\" \/>\n                <\/svg>\n                <div class=\"loader\"><\/div>\n                      <\/div>\n      <\/div>\n    <\/a>\n                <\/div>\n                <\/div>\n  <\/div>\n  <div data-uid=\"hhtl-block-688398e691165\" style=\"--hhtl-padding-x: 6; --hhtl-padding-top: 0; --hhtl-padding-bottom: 15;\" class=\"hhtl-events-grid hhtl-padding\">\n    <div id=\"events\" >\n          <div class=\"flex hhtl-animate-global-top hhtl-back-to-top hhtl-back-to-top-left\">\n      <a href=\"#hhtl-back-to-top\" class=\"flex items-center\">\n        <svg style=\"--hhtl-height: 0.8;\" class=\"hhtl-size hhtl-back-to-top-arrow\" viewBox=\"0 0 16 16\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n          <path d=\"M9 3L8.285 3.6965L12.075 7.5H2V8.5H12.075L8.285 12.2865L9 13L14 8L9 3Z\" \/>\n        <\/svg>\n        Back to top      <\/a>\n    <\/div>\n          <div style=\"text-align: start\">\n                      <h1 style=\"--hhtl-margin-y: 0;\" class=\"text-hhtl-indigo-light hhtl-animate-global-top hhtl-animate-global-delay-0\">\u6d3b\u52a8<\/h1>\n                  <\/div>\n                  <div style=\"--hhtl-margin-top: 6; --hhtl-grid-gap: 1.25;\" class=\"hhtl-events-grid-items hhtl-events-grid-items-3 hhtl-margin hhtl-grid-gap grid\">\n                <div style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-events-grid-item hhtl-grid-gap grid grid-rows-subgrid row-span-6 hhtl-animate-global-top hhtl-animate-global-delay-0\">\n    <div style=\"grid-area: 1 \/ 1 \/ 7 \/ 2;\" class=\"bg-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2\">\n      <div class=\"relative overflow-hidden hhtl-events-grid-image-container\">\n      <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/07\/william-mccue-1jZbU_XuyvU-unsplash-scaled.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-events-grid-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">Annual Hospitality Conference<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 0; --hhtl-padding-bottom: 0.75;\" class=\"hhtl-padding\">\n      <p class=\"font-bold\">\n        29th September &#8211; 30th September 2025      <\/p>\n    <\/div>\n    <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        Where UK hospitality unites to unlock investment, insight and opportunity\r\n29 &#8211; 30 September 2025\r\nManchester Central Convention Complex, UK      <\/p>\n    <\/div>\n    <div style=\"grid-area: 5 \/ 1 \/ 6 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 -960 960 960\">\n                <path d=\"M480.07-485.39q29.85 0 51.04-21.26 21.2-21.26 21.2-51.11 0-29.85-21.26-51.05Q509.79-630 479.93-630q-29.85 0-51.04 21.26-21.2 21.26-21.2 51.12 0 29.85 21.26 51.04 21.26 21.19 51.12 21.19ZM480-179.46q117.38-105.08 179.65-201.58 62.27-96.5 62.27-169.04 0-109.38-69.5-179.84-69.5-70.46-172.42-70.46-102.92 0-172.42 70.46-69.5 70.46-69.5 179.84 0 72.54 62.27 169.04 62.27 96.5 179.65 201.58Zm0 79.84Q329-230.46 253.54-343.15q-75.46-112.7-75.46-206.93 0-138.46 89.57-224.19Q357.23-860 480-860t212.35 85.73q89.57 85.73 89.57 224.19 0 94.23-75.46 206.93Q631-230.46 480-99.62Zm0-458.07Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">Manchester Central Convention Complex, UK<\/p>\n              <\/div>\n    <div style=\"grid-area: 6 \/ 1 \/ 7 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-top: 0; --hhtl-padding-bottom: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg  style=\"--hhtl-height: 1.1;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 16\">\n                <path d=\"M13 14H3C2.73489 13.9996 2.48075 13.8942 2.29329 13.7067C2.10583 13.5193 2.00036 13.2651 2 13V3C2.00036 2.73489 2.10583 2.48075 2.29329 2.29329C2.48075 2.10583 2.73489 2.00036 3 2H8V3H3V13H13V8H14V13C13.9996 13.2651 13.8942 13.5193 13.7067 13.7067C13.5193 13.8942 13.2651 13.9996 13 14Z\" \/>\n                <path d=\"M10 1V2H13.293L9 6.293L9.707 7L14 2.707V6H15V1H10Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">\n              <a target=\"_blank\" href=\"https:\/\/www.theahc.co.uk\/?gad_source=1&#038;gad_campaignid=22720205710&#038;gbraid=0AAAAA-J0AD2Ml1f5Lm4DD_hlLf9Y-Uf68\">\u8bbf\u95ee\u7f51\u7ad9<\/a>\n            <\/p>\n              <\/div>\n  <\/div>\n    <div style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-events-grid-item hhtl-grid-gap grid grid-rows-subgrid row-span-6 hhtl-animate-global-top hhtl-animate-global-delay-1\">\n    <div style=\"grid-area: 1 \/ 1 \/ 7 \/ 2;\" class=\"bg-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2\">\n      <div class=\"relative overflow-hidden hhtl-events-grid-image-container\">\n      <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2025\/07\/sandra-grunewald-EoTaEMulwCg-unsplash-scaled.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-events-grid-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">EXPO REAL<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 0; --hhtl-padding-bottom: 0.75;\" class=\"hhtl-padding\">\n      <p class=\"font-bold\">\n        6th October &#8211; 8th October 2025      <\/p>\n    <\/div>\n    <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        Welcome to EXPO REAL\r\n\r\nEXPO 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.      <\/p>\n    <\/div>\n    <div style=\"grid-area: 5 \/ 1 \/ 6 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 -960 960 960\">\n                <path d=\"M480.07-485.39q29.85 0 51.04-21.26 21.2-21.26 21.2-51.11 0-29.85-21.26-51.05Q509.79-630 479.93-630q-29.85 0-51.04 21.26-21.2 21.26-21.2 51.12 0 29.85 21.26 51.04 21.26 21.19 51.12 21.19ZM480-179.46q117.38-105.08 179.65-201.58 62.27-96.5 62.27-169.04 0-109.38-69.5-179.84-69.5-70.46-172.42-70.46-102.92 0-172.42 70.46-69.5 70.46-69.5 179.84 0 72.54 62.27 169.04 62.27 96.5 179.65 201.58Zm0 79.84Q329-230.46 253.54-343.15q-75.46-112.7-75.46-206.93 0-138.46 89.57-224.19Q357.23-860 480-860t212.35 85.73q89.57 85.73 89.57 224.19 0 94.23-75.46 206.93Q631-230.46 480-99.62Zm0-458.07Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">Munich Messe <\/p>\n              <\/div>\n    <div style=\"grid-area: 6 \/ 1 \/ 7 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-top: 0; --hhtl-padding-bottom: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg  style=\"--hhtl-height: 1.1;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 16\">\n                <path d=\"M13 14H3C2.73489 13.9996 2.48075 13.8942 2.29329 13.7067C2.10583 13.5193 2.00036 13.2651 2 13V3C2.00036 2.73489 2.10583 2.48075 2.29329 2.29329C2.48075 2.10583 2.73489 2.00036 3 2H8V3H3V13H13V8H14V13C13.9996 13.2651 13.8942 13.5193 13.7067 13.7067C13.5193 13.8942 13.2651 13.9996 13 14Z\" \/>\n                <path d=\"M10 1V2H13.293L9 6.293L9.707 7L14 2.707V6H15V1H10Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">\n              <a target=\"_blank\" href=\"https:\/\/exporeal.net\/en\/\">\u8bbf\u95ee\u7f51\u7ad9<\/a>\n            <\/p>\n              <\/div>\n  <\/div>\n    <div style=\"--hhtl-grid-gap: 0;\" class=\"hhtl-events-grid-item hhtl-grid-gap grid grid-rows-subgrid row-span-6 hhtl-animate-global-top hhtl-animate-global-delay-2\">\n    <div style=\"grid-area: 1 \/ 1 \/ 7 \/ 2;\" class=\"bg-neutral-50\"><\/div>\n    <div style=\"grid-area: 1 \/ 1 \/ 2 \/ 2\">\n      <div class=\"relative overflow-hidden hhtl-events-grid-image-container\">\n      <div style=\"background-image: url('https:\/\/horwathhtl.com\/wp-content\/uploads\/2024\/09\/Singapore_Aerial_Night_3-scaled.jpg');\" class=\"absolute inset-0 bg-cover bg-center hhtl-events-grid-image\"><\/div>\n      <\/div>\n    <\/div>\n    <h3 style=\"grid-area: 2 \/ 1 \/ 3 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25; --hhtl-margin-y: 0;\" class=\"text-hhtl-indigo hhtl-padding hhtl-margin\">HICAP<\/h3>\n    <div style=\"grid-area: 3 \/ 1 \/ 4 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 0; --hhtl-padding-bottom: 0.75;\" class=\"hhtl-padding\">\n      <p class=\"font-bold\">\n        22nd October &#8211; 24th October 2025      <\/p>\n    <\/div>\n    <div style=\"grid-area: 4 \/ 1 \/ 5 \/ 2; --hhtl-padding-x: 1.25;\" class=\"hhtl-padding\">\n      <p class=\"line-clamp-3 caption font-light\">\n        HICAP has been Asia Pacific\u2019s Essential Hotel Conference for 35 Years\r\nFor 35 years, HICAP has been the unequaled annual gathering place for Asia-Pacific\u2019s 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.\r\nCONNECT WITH THE PEOPLE WHO REALLY MATTER AT HICAP\r\nMeet the key players in the industry. HICAP draws internationally influential decision-makers, experienced advisors and specialists, and industry pundits:\r\nInvestors \u2022 Owners \u2022 Developers \u2022 Hotel Chain &#038; Management Companies \u2022 Investment Bankers \u2022 Lenders \u2022 Advisors &#038; Intermediaries \u2022 Architects &#038; Designers \u2022 Government Tourism Officials \u2022 Media\r\n      <\/p>\n    <\/div>\n    <div style=\"grid-area: 5 \/ 1 \/ 6 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-y: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg style=\"--hhtl-height: 1.5;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 -960 960 960\">\n                <path d=\"M480.07-485.39q29.85 0 51.04-21.26 21.2-21.26 21.2-51.11 0-29.85-21.26-51.05Q509.79-630 479.93-630q-29.85 0-51.04 21.26-21.2 21.26-21.2 51.12 0 29.85 21.26 51.04 21.26 21.19 51.12 21.19ZM480-179.46q117.38-105.08 179.65-201.58 62.27-96.5 62.27-169.04 0-109.38-69.5-179.84-69.5-70.46-172.42-70.46-102.92 0-172.42 70.46-69.5 70.46-69.5 179.84 0 72.54 62.27 169.04 62.27 96.5 179.65 201.58Zm0 79.84Q329-230.46 253.54-343.15q-75.46-112.7-75.46-206.93 0-138.46 89.57-224.19Q357.23-860 480-860t212.35 85.73q89.57 85.73 89.57 224.19 0 94.23-75.46 206.93Q631-230.46 480-99.62Zm0-458.07Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">Swissotel Singapore<\/p>\n              <\/div>\n    <div style=\"grid-area: 6 \/ 1 \/ 7 \/ 2; --hhtl-padding-x: 1.25; --hhtl-padding-top: 0; --hhtl-padding-bottom: 1.25;\" class=\"flex items-center hhtl-padding\">\n                  <div style=\"--hhtl-width: 2; --hhtl-height: 2; --hhtl-margin-right: 0.5;\" class=\"hhtl-size hhtl-margin hhtl-icon-container flex items-center justify-center rounded-full bg-hhtl-neutral-50\">\n              <svg  style=\"--hhtl-height: 1.1;\" class=\"hhtl-size hhtl-icon\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 16 16\">\n                <path d=\"M13 14H3C2.73489 13.9996 2.48075 13.8942 2.29329 13.7067C2.10583 13.5193 2.00036 13.2651 2 13V3C2.00036 2.73489 2.10583 2.48075 2.29329 2.29329C2.48075 2.10583 2.73489 2.00036 3 2H8V3H3V13H13V8H14V13C13.9996 13.2651 13.8942 13.5193 13.7067 13.7067C13.5193 13.8942 13.2651 13.9996 13 14Z\" \/>\n                <path d=\"M10 1V2H13.293L9 6.293L9.707 7L14 2.707V6H15V1H10Z\" \/>\n              <\/svg>\n            <\/div>\n            <p class=\"caption font-bold\">\n              <a target=\"_blank\" href=\"https:\/\/www.burba.com\/HICAP\">\u8bbf\u95ee\u7f51\u7ad9<\/a>\n            <\/p>\n              <\/div>\n  <\/div>\n              <\/div>\n              <\/div>\n  <\/div>\n  ","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-45912","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/pages\/45912","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/comments?post=45912"}],"version-history":[{"count":0,"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/pages\/45912\/revisions"}],"wp:attachment":[{"href":"https:\/\/horwathhtl.com\/zh-hans\/wp-json\/wp\/v2\/media?parent=45912"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}