Property News · March 5, 2019

More deals loom in the global hotel industry as supply outpaces demand, says Best Western CEO


A glut in the supply of hotel rooms that has outpaced demand will lead to more mergers and acquisitions in the increasingly competitive industry, according to the head of the Best Western Hotels and Resorts Group.“In the last 10 years, an astonishing number of hotels has been added, and in some countries the demand hasn’t kept up with supply. So you increase the supply by 10 per cent, but has demand grown by 10 per cent? It has not, so it’s far more competitive today,” said David Kong, CEO of…

Source : South China Morning Post
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