The premium and luxury tourism segment in Asia-Pacific remains resilient amid geopolitical tensions, as travellers seek intentional travel with trusted brands, and major destinations such as Thailand are projected to rebound once tensions ease, supported by pent-up demand, says Como Hotels and Resorts, a Singaporean hospitality operator.
Doris Goh, executive vice-president of commercial at the company, said the hospitality outlook this year remains cautious yet resilient, particularly for the luxury segment in Asia-Pacific.
While rising travel costs are pressuring long-haul markets, the company still sees strong demand from regional travellers in search of wellness, privacy and meaningful experiences.
Healthy demand from Asian and Australian markets benefited Como's hotels in Singapore, Bangkok, Phuket, Bali and the Maldives, she said.
"What we are seeing is not necessarily less travel, but more intentional travel," Ms Goh said.
The mass market might be more sensitive to rising costs, but the premium and luxury segments remain resilient, she said.
Affluent travellers are willing to spend, but becoming more selective and demanding experiential value from their stays, she said.
Ms Goh said as a family-owned hospitality business, Como is agile in adjusting its business strategy for this challenging period.
Wellness tourism continues to outperform broader leisure travel, which is aligned with the company's brand position. Its hotels are offering special experiences such as wine tours, food, sports and wellness experiences.
In terms of operations, flexibility and efficiency have become increasingly critical, particularly in staffing, inventory management and personalised guest engagement.
"With the current travel uncertainties, guests place even greater importance in trust and consistency," said Ms Goh. "Travellers are becoming far more discerning when it comes to where they spend both their time and money."
Looking ahead, she said there will be more pent-up demand for travel once geopolitical tensions ease.
In the past, turmoil typically delayed travel decisions rather than cancelled travel plans altogether. Destinations such as Bangkok, Phuket, the Maldives, Bali, Tuscany and London can expect a strong rebound in premium travel.
Como operates 19 hotels worldwide, including outlets in Bangkok and Phuket, under an asset-heavy model, in which the majority are company-owned.
For Thai tourism, Ms Goh said that following the pandemic, the destination has continued to develop new projects, hotels and neighbourhoods.
However, she said the most significant challenge remains the development of the country's infrastructure, such as transport and waste management facilities, which would improve local life and eventually benefit tourists. The 22-year-old Como Metropolitan Bangkok underwent a renovation for six months before reopening in October last year with 137 rooms and suites. Its main markets are Koreans, Chinese, Singaporeans and Europeans.
She said the hotel rooms are competitively priced while maintaining the brand's distinct positioning, amid intensifying competition in the Bangkok market as new luxury hotels and rooms have entered the market over the past few years.
Hoteliers across Bangkok are recording a city-wide slowdown with fewer visitors this year, hampered by the Middle East conflict, Ms Goh noted.
Como opened its second and third properties in France this year: Como Le Beauvallon and Como Cordeillan-Bages.
