Skip to main content Skip to footer

Colliers Quarterly | Property Market Report – Hotel | Q4 2021 | Philippines

Download Report
Q42021_hero_image_hotel

Colliers urges hotel operators to prepare for gradual recovery of arrivals and leisure spending, especially from local travelers.

 

Disappointing foreign tourist arrival numbers, due to the Omicron variant, continue to stall the leisure sector’s recovery. Colliers expects a slow recovery for the sector, which should start by H2 2022. Supply-wise, Colliers saw the delivery of 191 rooms in H2 2021. In 2022, we project the completion of 1,600 rooms, up 122% YOY, with the Bay Area accounting for 57% of new supply.

Colliers noted improvement in hotel occupancy rates in H2 2021, partly due to the arrival of more Filipinos using hotels as quarantine facilities, but we expect travel restrictions to continue to stifling demand. Over the next 12 months, Colliers sees hotel occupancy across the country to be propelled by local tourists as well as Filipinos returning from abroad.

Colliers expects a slow recovery in daily rates starting 2022, backed by slight improvement in foreign arrivals and demand from Filipinos returning to the country.

According to Joey Roi Bondoc, Colliers Associate Director and Head of Research: “We do not see an immediate rebound for foreign tourist arrivals especially given the impact of the Omicron variant on global air travel. In our view, local tourists, especially Filipinos returning from abroad, will continue to drive occupancy. We remain cautiously optimistic on the leisure sector’s potential for rebound, partly due to the improvement in Filipinos’ propensity to spend on leisure-related expenditures and as the government allows the reopening of more multi-use hotels. Meanwhile, hotel operators should continue sanitizing their facilities; complying with government’s protocols; and lining up marketing initiatives.”


DOWNLOAD FULL REPORT HERE


Q42021_search_image_hotel

Colliers Quarterly | Property Market Report – Hotel | Q4 2021 | Philippines

Download Report
Related Experts

Joey Bondoc

Associate Director

Research

Manila

Prior to joining Colliers in March 2016, Joey worked as a Research Manager for a research and consutancy firm where he handled business, political, and macroeconomic analysis. He took part in a number of consultancy projects with multilateral agencies and provided research support and policy recommendations to key government officials and top executives of MNCs in the Philippines.

View expert

Martin Aguila

Senior Analyst

Research

Manila

Martin Aguila graduated in February 2019 from the De La Salle University with a degree in AB Economics. He joined Colliers Philippines in the same month and works as an analyst under the Research department. He has presented in several property market briefings with developers and investors and has assisted in the preparation of reports related to property such as Market Intelligence, GDP Flash, Quarterly Market Updates and Radar Reports. He also helps the team maintain and develop databases.

View expert

Brent Respicio

Research Analyst

Research

Manila

Brent Respicio graduated in 2017 from University of the Philippines Los Banos with the degree BS Economics. Brent is a Research Analyst for the Research Department. Prior joining Colliers, Brent already worked for a real estate firm as a researcher as well. He is involved in conducting quarterly reports on residential and industrial sector and helps in maintaining databases for the use of research and other departments. 

View expert