Law: Asia-Pacific remains the fastest growing market for international travel
Park Hotel Group has launched Destination, a select, midscale brand that provides quality and affordable accommodation in prime, central locations.
The group’s third brand will debut in 2Q2017 in Singapore with the 300-room Destination Singapore Beach Road. A management contract with FG Property No. 1 was recently signed.
“We definitely see an upward trend for select service in Singapore. Based on the current official data for mid-tier hotels, there is growth in overall occupancy levels over the last three years in this segment reflecting increased interest and preference,” said Allen Law, CEO of Park Hotel Group.
The trend, Law noticed, is mirrored globally with over 60 per cent of select service hotels being part of pipeline hotels in the US in 2016.
With travel continuing to evolve, Destination offers more options for the “pragmatic, independent and curious traveller looking for efficiency, reliability, connectivity and convenience in a hotel”, explained Law.
Park Hotel Group hopes to expand its latest brand in countries like Hong Kong, Japan and Australia where select service hotels would be well-positioned to tackle steep property, labour and construction costs with increased building efficiency and operational productivity.
“Regionally, Asia-Pacific remains the fastest growing market for international travel with close to 10 per cent growth up to 3Q2016,” said Law.
Destination Singapore Beach Road is Park Hotel Group’s sixth hotel in Singapore. It will take over the current Premier Inn Singapore located near Nicoll Highway MRT Station.