Travel has come roaring back in China, and there are green shoots for travel across the Asia-Pacific region, although there are spots that still face trouble, according to STR's Jesper Palmqvist.
Speaking on the Hotel News Now podcast, Palmqvist, STR's senior director of Asia-Pacific, said the rebound in China doesn't line up with the western narrative around that country.
"If you ask people there, it's definitely domestically it's such a different story than what you read in western media," he said. "The economy is in free fall if you read other media, and our industry and others are all falling, but this summer was just a tremendous summer in travel and also in investment."
Palmqvist said it's hard to paint with a broad brush about what's going on across Asia-Pacific since each country has its own story with different factors weighing on hotel performance. He said some markets, such as Hong Kong, continue to face significant challenges while others, including where he's based in Singapore, are booming.
"A lot of the markets in Southeast Asia are booming, as well," he said. "Tokyo is absolutely doing well, as well as Singapore."
One of the more interesting countries in the region is India, which has been a target for international brands and investors but difficult to penetrate, Palmqvist said.
He added he has been encouraged by "what's happening in new brands and the need because of the growing middle class," he said. "When you have a 1.3 billion population and that new middle class that wants to travel and experience things across that great country but also abroad, of course that gains attention."
For more from HNN's conversation with STR's Jesper Palmqvist, listen to the podcast above and subscribe to the Hotel News Now podcast on Apple, Spotify or wherever you find podcasts.