News - Thinking Traveller: Asia- the tigers' re-awakening
I was fortunate to have worked in the Asia Pacific region during the early 90’s when the Asian tigers (Hong Kong, South Korea, Singapore & Taiwan) were on the rise. It was a time of supercharged economic growth and as a result, incredible developments within the hospitality industry, with fantastic new levels of creativity in design and approach to service. Well guess what, after recent year’s financial crises in Asia and the Western world, the tigers have re-awakened – it’s now the turn of new, younger tigers of Thailand, Indonesia, Philippines as well as wider parts China. This time round, it’s not the HNWI that are driving growth in the hotel and leisure industries, but instead, the middle class and their thirst for new experiences.
Living room at Aqua Boracay by YOO, Boracay, the Philippines
Low cost airlines are doing great business, which in turn is positively impacting hotel occupancies across Asia. Did you know that one of the largest recent orders Boeing received was from a tertiary airline in Indonesia. The new generation of consumers will not be satisfied with the mundane, they expect something different – brand and design is ever more important and there is a strong demand for affordable design-led hotels. In responding to this demand, YOO Hotels - YOO2 and YOO collection are currently exploring opportunities across Asia including Hong Kong, Jakarta, Bali and Shanghai, to name a few.
And with the recent announcement of the YOO collaboration with design star, Steve Leung, the good news is, where our designs are moving Asian, our consumers are going for design...