Reflecting On Asia
Will this now stalled growth engine become the first region to show signs of recovery? While good news is at a premium, even in what has been such a robust region as Asia Pacific, hoteliers there generally seem steadfast and hopeful about potentially positive momentum by the end of 2009. After all, as in past downturns, pent-up business travel demand starts to build, emerging middle classes crave to satisfy their wanderlust and a region so vibrant for the last 20 years by all accounts still remains the best long-term opportunity for development anywhere in the world. As a result, domestic and global brands continue to grow their pipelines as best they can under the circumstances, as well as jockey for the best positions and partnerships.