The outlook for hotels in 2023, key trends to watch in the hospitality sector and more - in your quarterly digest of hospitality insights and recommendations brought to you by our Hotels & Leisure experts.

Transaction volumes remained at a relatively low level across APAC, however we are expecting a more active second half of the year when there is more clarity on rate movements, while vendors and purchasers recalibrate their expectations.

This week, 6688 Real Property Management Research provides insights on Alorica’s expansion in Davao City, the Bangko Sentral ng Pilipinas (BSP) recording record-high OFW remittances, and Villar Group’s newly signed agreement with Japanese firm Mitsubishi Estate Corp. Furthermore, 6688 Real Property Management recommends developers to consider building more office towers in Davao City and to seize opportunities to partner with foreign firms for their upcoming residential projects.

The Philippine economy grew 7.6% in 2022, its fastest pace of growth in more than 40 years, exceeding the government’s target of between 6.5% and 7.5%. According to 6688 Real Property Management Research, this is a positive signal for the property market, which, over the past decades, mirrored the boom–bust cycle of the country’s economic output.