Brief
Asia Pacific Hotel Trends Q3 2026
October 13, 2026 5 Minute Read
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- International and domestic visitor arrivals in mainland China both surpassed pre-pandemic levels in 2025 and set new record highs. This helped the investment market turn more active in H1 2026, with transaction volume more than doubling y-o-y. Overall RevPAR grew slightly y-o-y, driven by improved ADR, while occupancy was mostly flat.
- In Korea, H1 2026 visitor arrivals grew double digits y-o-y as the popularity of K-culture and medical beauty tourism continue to lure overseas tourists. Solid fundamentals underpin an active hotel investment market, with overseas institutional capital the most aggressive buyer group. RevPAR growth is mostly driven by ADR, with July y-t-d 2026 rates up more than 10% y-o-y.
- Weaker-than-expected H1 2026 visitor arrivals to Thailand have seen full-year forecasts cut to 33 million. While hotel investment activity has slowed slightly, foreign investment appetite is strong. Bangkok’s diversified, high-volume demand base, including business, leisure, and transit segments, is demonstrating relatively stable performance.
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In Japan, the Bank of Japan has lifted its policy rate twice this year to 1.25%, taking funding costs to their highest level in years.
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Leasing sentiment in Korea has strengthened over the past six months, with dry warehouse vacancy falling to single digits amid rising occupier demand.
Research Contacts
Business Contacts
Ananth Ramchandran
Head of Advisory & Strategic Transactions, Hotels & Hospitality, Asia
Kieran Chaiyataj Chevamongkol
Associate Director, Hotels and Hospitality, Thailand