Press Release: Lifestyle Hotels Revolutionize Asia Pacific Hospitality
In a transformative shift within the hospitality sector, lifestyle hotels are prioritizing vibrant communal spaces over traditional accommodations, fostering connections between travelers and locals. JLL’s recent report underscores the burgeoning opportunities for brands and investors in this evolving market, as demonstrated by Hyatt’s acquisition of Standard International and Marriott’s acquisition of CitizenM.
The surge of lifestyle hotels in the Asia Pacific region traces back to 2008, when brands like W Hotels and Aloft broke ground, triggering a hospitality movement that has since seen remarkable growth. Currently, the number of lifestyle hotel rooms in the region has quadrupled since 2014, with projections indicating further growth of 34% by 2027. By 2024, lifestyle properties are expected to lead new hotel openings, potentially comprising 6-9% of all new supply by 2027.
Southeast Asia currently boasts three times the number of lifestyle hotel rooms compared to Australia-New Zealand and South Asia. The region has rapidly expanded its offerings with leading brands such as Aloft and Hotel Indigo, while Greater China leads in overall numbers. Despite this, the strongest growth is occurring in Australia.
Moreover, lifestyle hotels largely occupy the luxury and upper upscale segments, although entry-level offerings in the three-star category show promise. New luxury lifestyle brands, such as Emblems and The Unbound Collection, are anticipated to penetrate the Asia Pacific market by 2027.
Currently, lifestyle hotels command a price premium of approximately 10-11% above market averages, emphasizing consumer willingness to invest in unique experiences. These establishments also report a 30% higher revenue from food and beverage services compared to traditional hotels.
As lifestyle hotels solidify their status as core components of the Asia Pacific hospitality landscape, their focus on authenticity, sustainability, and personalization positions them for continued growth amidst changing consumer preferences.
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