Amid the bad news, investors pick bright spots – Japan leads the way.

Hoteliers who follow their mother’s advice “to share”, learn to embrace the “new economy asset classes” and learn to work with OTAs are the ones who will win in the new world of hospitality, said Miguel Ko, chairman of CapitaLand Investment.

Miguel Ko (second from right) accepting the HICAP Lifetime Achievement Award – from left, Jonathon Zink, COO, The BHN Group; David Ling, City Developments Ltd; and Jeff Highley, CEO, The BHN Group.

Accepting the HICAP Lifetime Achievement Award at the HICAP conference in Singapore this week – “it’s my time because I am that old”, he quipped – the veteran hotelier, who received a standing ovation, showed exactly what he was made of when he spoke about the future of hospitality.

First, hospitality’s ability to bridge “new economy asset classes and old economy asset classes”. Tied to trends such as the future of work and the rise of digital nomads, he said the industry can emerge into the new economy asset classes by creating alternate forms of hospitality.

During the pandemic, he said CapitaLand found its Ascott service residences fared better than hotels, and that thinking has evolved into its Lyf co-living brand.

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