Based on new data from Knight Frank, global housing markets continued to see stronger growth in the first quarter of 2024, with annual growth across the 56 markets we cover reaching 3.6%.
Hotel owners and operators are adjusting their operational and branding strategies in response to increased labor and utility costs, limited new supply, and the extended peak of the interest rate cycle.
According to CBRE, strong domestic and international demand have established Korea as one of the top-performing hotel markets in the Asia Pacific region over the past two years.
According to global property consultant Knight Frank, the first quarter of 2024 witnessed an average annual growth rate of 4.1% across the 44 markets covered by the Knight Frank Prime Global Cities Index, marking the strongest rate of growth since Q3 2022