ACCORDING to the Hotel Price Radar Q2 2016 report released by end-to-end hotel solutions provider HRS, the MICE industry boom in Asia is contributing to rising room rates in large cities.
This is apparent in Tokyo, Sydney and Singapore – the leaders of average room rates per night – standing at US$280, US$244 and US$254 respectively.
The cities that marked the most positive movements in the second quarter of the year are Bangalore, which recorded spikes in room rates. Compared to last year, the Silicon Valley of India saw a significant 22.9 percent spike in rates.
Meanwhile, Kuala Lumpur has also seen fruitful results after aggressively promoting its MICE offerings through partnerships with local and international players.
For instance, the Kuala Lumpur Convention Centre strengthened ties with the International Association of Professional Congress Organisers (IAPCO), Kuala Lumpur Tourism Bureau (KLTB), InvestKL and the Malaysian Association of Convention and Exhibition Organisers and Suppliers (MACEOS).
According to TTG Asia, Jakarta too has recorded increased room rates, with the Indonesia Convention and Exhibition Bureau (Inaceb) established in late March this year.
Kimi Jiang, vice president Asia-Pacific at HRS, said, “The top business travel destinations in the region have remained broadly consistent for the past few quarters now.”
“An intensely competitive MICE climate will dictate further growth in the business travel sector, with [cities] like Kuala Lumpur and Jakarta developing aggressive strategies to grow their MICE industries,” he added.