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Currently based in Bangkok, Jon Cannon is JLL’s Senior Vice President – Hotel Asset Management for Thailand and Vietnam wherein he is building on the company’s strong asset management presence in Asia Pacific.
Cannon has been working in the hospitality industry for over 24 years, with the last decade being in senior management roles. His career started in the United Kingdom, before working across Thailand in Bangkok, Phuket, and Samui for the past nine years.
He also sits on the Board of the Australian Chamber of Commerce in Thailand, serving as Vice President to the Chamber and joining several hospitality industry boards, and providing guest lectures on business and hospitality in Thailand and Vietnam. He has completed his MBA in Strategic Management in 2022 from the Australian Institute of Business.
In this interview, Cannon sits down with Asian Business Review to discuss current trends in hotel asset management, the state of the hospitality industry in Thailand and Vietnam in recent years, as well as the factors that are going to contribute to the industry’s future.
What current trends in hotel asset management are you most excited about, and how do they impact the broader hospitality industry?
One of the most exciting trends in hotel asset management today revolves around the utilization of data analytics and technology to optimize operations and elevate guest experiences. The hospitality industry stands to gain tremendously from harnessing the power of data analytics to inform decision-making, enhance revenue management strategies, and deliver personalized guest services.
In addition to the benefits of data analytics, the presence of our JLL SEA (Southeast Asia) teams allows us to leverage data and analytics as a powerful tool for collaboration and knowledge sharing across teams in our regions. By examining data from various markets, we can gain insights into best practices, market trends, and successful strategies employed by different regions. This collective knowledge enables the wider team to identify strategic similarities, learn from each other’s experiences, and apply these learnings to drive success in diverse markets.
How has the hospitality industry in Thailand and Vietnam evolved in recent years, and what do you foresee as the next major shift?
The hospitality industry in Thailand and Vietnam has experienced significant growth and evolution in recent years. Both countries have seen an increase in international visitor arrivals and have become popular tourist destinations. In Thailand, there has been a shift towards luxury tourism with the development of high-end resorts and experiences. There has also been a vocal change away from mass tourism. In Vietnam, hotel development has been driven by a combination of tourism growth and the increase in local and foreign investment.
Looking ahead, the next major shift in the hospitality industry in Thailand and Vietnam could be the emphasis on sustainable and eco-friendly practices. With growing global concern for the environment, hotels in these countries might focus on reducing their carbon footprint, implementing green initiatives, and offering unique sustainable experiences to attract conscious travelers. With many big hotel brands present in these markets, the drive for sustainability will likely be driven by the private sector at a faster rate than local regulations.
What are some of the biggest challenges currently facing the hotel asset management sector in Southeast Asia, particularly in Thailand?
One of the biggest challenges currently facing the hotel asset management sector in Southeast Asia, particularly in Thailand, is the high level of competition. A large number of hotels entering the market has led to increased competition for guests and market share. This puts pressure on hotel owners and operators to differentiate themselves and stay relevant.
Additionally, the shortage of skilled labor is a pressing challenge. The hospitality industry in Southeast Asia faces difficulty in finding skilled workers due to the region’s booming tourism sector. High turnover rates, low wages, and demanding working conditions have deterred locals from pursuing careers in the industry. To address this issue, industry stakeholders need to invest in talent development programmes, improve working conditions, and offer competitive remuneration packages to attract and retain skilled professionals. Collaborative efforts between governments, educational institutions, and industry players can play a crucial role in bridging this labor gap, ensuring sustainable growth for the hospitality sector.
How are hotels adapting to changes in travel behaviours and customer expectations in recent years?
Hotels have been adapting to changes in travel behaviours and customer expectations by embracing technology and focusing on enhancing the guest experience. They are increasingly implementing mobile check-in and check-out options, providing digital concierge services, and using personalised marketing campaigns to target specific customer segments. Hotels have also been investing in smart room technology and incorporating sustainability practices to meet the growing demand for eco-friendly accommodation.
Furthermore, hotels are expanding their offerings beyond traditional accommodation to include co-working spaces, experiential dining, and wellness facilities. This shift reflects the changing preferences of travelers and their desire for unique experiences rather than just a place to stay.
Looking ahead, what are your predictions for the future of hotel asset management in Southeast Asia?
In Southeast Asia, the future of hotel asset management is likely to be shaped by a combination of factors. Continued investment in infrastructure, improving connectivity, and increased tourism promotion will contribute to the growth of the hospitality industry in the region. There is also room for more sustainable practices and the adoption of technology to further optimise operations.
The rise of digital platforms and online travel agencies will continue to influence the industry, giving hotels access to a global customer base. Additionally, the increasing importance of the millennial and Gen Z demographics will shape the future of hotel asset management in terms of technology integration, sustainability practices, and unique experiences.
As a judge at the TDM Travel Excellence Awards, what key qualities do you look for in nominees that set them apart as industry leaders?
As a judge at the TDM Travel Excellence Awards, I look for certain key qualities in nominees that set them apart as industry leaders. These qualities include innovation in terms of adopting new technologies, strategies, or business models that bring significant positive change to the industry. Nominees who have demonstrated exceptional guest satisfaction and engagement through unique experiences or personalized services also stand out.
Moreover, nominees who have made a significant impact on the community through corporate social responsibility initiatives or sustainable practices are highly regarded. Successful nominees would possess strong leadership and management skills, demonstrating their ability to drive business growth, adapt to changing market dynamics, and effectively navigate challenges in the industry.
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