Bangkok (Thailand) – June 7, 2013 – – Thailand was voted the most popular hospitality investment market in Asia by industry and investment executives who attended the fifth annual Asia Pacific Hotel Investment Conference here last week, followed by Cambodia, Myanmar, Indonesia Vietnam and the Philippines.
The result, which came in a survey conducted by Questex Hospitality Group during the conference, held at Bangkok’s Dusit Thani Hotel, delighted Somsak Pureesrisak, Thailand’s minister of tourism and sports, who delivered the welcome address.
Chanin Donavanik, managing director and chief executive officer of Dusit International who delivered the keynote address, said, “Without a doubt, the travel and tourism industry is growing throughout Asia with more and more travelers from the region and elsewhere moving around than ever. For Thailand to be regarded as an alluring investment option at the center of all this activity is surely a sign of exciting times ahead.”
Following the recent wave of early termination of hotel management contracts in both the US and China recently, there was also a fiercely-contested yet friendly debate on the second day of the conference, for and against the motion “Hotel Owners Bear All the Risks while Operators Reap All the Rewards from the Agency Relationship between them.” The audience was given a chance to vote regardless of their affiliation, with 78% of participants voting for the motion.
Conference delegates included Dr Aron Harilela, Chairman and CEO of Harilela Hotels; Deepak Ohri, CEO of Lebua Hotels and Resorts; Ricco de Blank, CEO of Sun Hung Kai Properties; Alessandro Fiascaris, a principal in Blackstone’s Real Estate group; Steve Carroll, national director asset management at LaSalle Investment Management; Gerald Yong, chief investment officer for The Ascott Limited; and Mohd K. Rafin, chief corporate officer of Park Hotel Group.
Attendance at the two-day conference included nearly 300 delegates representing more than 100 hospitality and luxury companies including some of the region’s leading hotel owners, investors, operators, developers, policymakers, designers, architects and master planners.
For more information about APHIC, visit http://ihif.questexevents.net
To see photos from the conference, visit the online photo gallery.
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About Questex Hospitality + Travel
Questex Hospitality + Travel, the largest multimedia organization in the world dedicated to travel and lodging, drives revenue, productivity and value-creation for these related industries through strategic investment and deal-making forums, powerful lead-generation tools, interactive online business solutions, world-class events and industry-leading publications.
The Questex Travel Group, a division of Questex Hospitality + Travel, serves travel marketers globally through its www.TravelAgentCentral.com , www.LuxuryTravelAdvisor.com and www.TravelAgentUniversity.com online portals. It operates the leading luxury travel booking site, www.FiveStarAlliance.com, publishes Travel Agent and Luxury Travel Advisor magazines and produces leisure events: Luxury Travel Exchange International, ULTRA Luxury Exchange, Young Leaders Conference and Hawaii Travel Exchange and MICE events: Global Meeting & Incentive Travel Exchanges and CONFEC conferences.
Questex Hospitality + Travel also provides business development, marketing and training services to national tourism organizations, destination marketing associations, hotel, gaming, resort and cruise companies, online travel agencies and travel advisors worldwide. Questex Hospitality + Travel is a division of Questex Media Group LLC, headquartered in Newton, Mass., with offices throughout the world.
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