Phnom Penh’s Luxury Hotels
In a bid to increase high-end tourism, a swathe of luxury hotels are in the pipeline in Phnom Penh, including two 5-star properties – offering over 1,000 rooms – slated to open this year, and three more to enter the market by 2020. However, occupancy rates at the capital’s current luxury hotels are averaging below 50% average, and is seeing a decrease in the past 3 years. The trade is divided on whether the properties will contribute to the economy or be forced to shutter due to low demand.
Maldives Hotel Woes
Maldives has always been a popular destination for resort seekers, but recently the hotels are reporting weaker performances due to a glut of rooms. Even though arrivals rose 4.2% (with 1.3 million visitors) last year, hotel occupancies fell 3.2%. This was blamed in part to the increasing number of accommodation inventory – 9 new resorts opened just last year, and another resort is due to build 500 villas by 2020.