Hong Kong forum covers opportunities and challenges for hospitality sector

With travel demand for the Asia Pacific surging, its hospitality sector evolving and its consumer preferences shifting, it is up to people in the region to seize the opportunities presented, a forum in Hong Kong has heard.

The second edition of the International Hospitality Investment Forum (IHIF) Asia, with the theme of "Beyond Borders: Market, Capital, Growth", ran from Wednesday to Friday of this week.

Alexi Khajavi, president of hospitality, travel and wellness at event firm Questex, said at the forum that Asia is becoming the catalyst for transformation.

Khajavi said that one of the trends that he has observed in Asia is that capital is finding new pathways. Investors from Hong Kong are pouring into Japan's hospitality sector, Singapore has become the gateway for Southeast Asian expansion, while family companies are partnering with institutional players in ways that haven't been seen before.

Khajavi also noted that hospitality itself is evolving, as the lines between hotels, residences and lifestyle brands are blurring. According to him, technology is no longer just an operational tool, "it's becoming the foundation of investment decisions, from AI-driven revenue management to blockchain-enabled fractional ownership".

IB Saravanan, vice-president of Questex Asia, said hospitality investment "no longer fits neatly within geographic or sectoral boundaries". Capital, innovation and talent are flowing across borders at unprecedented speed, reshaping markets and creating opportunities for those ready to act.

Saravanan also stressed how partnerships between investors, brands, governments and communities are expanding horizons and unlocking growth well beyond traditional boundaries.

However, the global hospitality tourism industry faces a shortage of almost 12 million workers by 2030, according to experts from India. Developed economies in Asia Pacific, including many countries in the Middle East, are particularly affected, creating a demand supply gap.

In the "navigating regional resourcing challenges for global success" session, India's Tourism and Hospitality Skill Council's Chairperson Jyoti Mayal and Chief Executive Officer Rajan Bahadur talked about their country's complex yet rewarding labor market. India has a population of 1.4 billion people, 600 million of whom are aged 18-35.

"For the global hospitality and tourism sector, which is grappling with post-pandemic workforce shortages, India offers both talent surplus and future-ready adaptability," Bahadur said.

"India is not only the world's most populous country, but also its youngest major economy."

Key challenges for Indian workers in the global hospitality sector may include visa and work permit issues, qualification recognition and adaptability. The Indian council emphasizes localized skilling, public-private partnerships and sustainable tourism practices, Bahadur said.

Jan Yumul in Hong Kong contributed to the story.