Horwath HTL Industry Report: Bali Hotel and Branded Residences
2019 was business as usual (aka difficult) for hotels in Bali. There were no airport closures, nor earthquakes but the market was rocked by a big fall in Chinese arrivals and a duopoly of national airlines charging exorbitant airfares forcing domestic tourists to vacation abroad. All the work done = flat occupancy, flat rates and flat RevPAR across the market in 2019.
Due to over tourism and environmental concerns, Bali was included as one of 13 destinations on Travel guide Fodor's "no go" list in 2020. Bali faces looming ecological challenges such as trash on the beach, traffic jams in main tourist districts, and freshwater scarcity. Without solving these problems, Bali has to rein in its tourism growth.
Bali's current real estate market unlike other Southeast Asian resort destinations such as Phuket in Thailand is shifting away from hotel branded residences and condotels. The current property market is now seeing development of rental yielding villas and apartments in the high growth areas of Canggu, Brawah and Uluwatu.
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Horwath HTL is focused one hundred percent on hospitality, tourism, and leisure consulting. Our services cover every aspect of hotel real estate investment, tourism, and leisure development. Our clients choose Horwath HTL because we have earned a reputation for impartial advice that will often mean the difference between failure and success. Each client project is unique, and they rely on us to utilize the experience we have gained throughout our 100-year history to assist them in achieving their goals. Being a global firm with 52 offices in 40 countries, we have successfully carried out over 40,000 assignments for both public and private clients. As part of the Crowe Global network, a top-ten accounting, and financial services network, Horwath HTL is the number one choice for companies and financial institutions looking to invest and develop in the industry.
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