The hotel sector is experiencing a wave of renewed confidence, fueled by the comeback of corporate events. A recent survey by JLL indicates that over 80% of hotel operators in the Asia Pacific region anticipate an increase in revenue from meetings, incentives, conferences, and exhibitions (MICE) by 2025.
Furthermore, data from Cvent, a prominent event software provider, reveals that over half of the meeting planners in the area are planning to host more events this year. Despite the lingering macroeconomic and geopolitical uncertainties, the MICE industry is showing encouraging signs of returning to pre-pandemic levels. This recovery is particularly noticeable in countries that have seen strong economic recoveries since the pandemic.
The industry’s renewed optimism aligns with the robust growth of international and domestic tourism in key regions such as South Asia, the Maldives, Southeast Asia, and North Asia. To keep up with evolving traveler profiles and the increasing diversity in travel styles, hotels are adapting their offerings. For instance, the ‘bleisure’ travel trend, where business travelers extend their trips for leisure, is gaining popularity.
To support this trend and accommodate a wider array of events, hotels are implementing flexible event spaces that can be easily divided into smaller, more intimate areas. Hotels are also increasingly leveraging technology to enhance customer experiences and address operational challenges.
One notable example is the Adelaide Marriott Hotel, which has introduced AI-driven technologies, including real-time translations and tracking cameras, to improve audience engagement. These technological solutions are also vital in tackling operational issues that impact profitability, particularly in labor-intensive areas like the front office and food and beverage service.
The resurgence of corporate events provides a crucial boost to the hotel industry’s recovery. This trend, combined with the industry’s adoption of technological innovations and flexible event spaces, contributes to a positive outlook for the sector’s future.
