The resurgence of corporate events is bolstering confidence in the ongoing recovery of the hotel sector.

Over 80% of hotel operators surveyed by JLL in Asia Pacific anticipate an increase in revenue from meetings, incentives, conferences, and exhibitions (MICE) in 2025. Meeting planners in the region are also bullish on meetings this year, with over half expecting to produce more, according to data from event software provider Cvent.

Despite the current macroeconomic and geopolitical uncertainties, the MICE industry is showing signs of a return to normalcy, says Marina Bracciani, Vice President, Hotels Research, Asia Pacific, JLL.

“The MICE industry is closely linked to economic conditions,” she says. “Particularly in countries with stronger post-pandemic economic recoveries, hotels are seeing more opportunities to capitalize on this growth.”

This coincides with the robust growth of international and domestic tourism arrivals in key markets like South Asia and Maldives, Southeast Asia, and North Asia, which outperformed the rest of the region last year. Take Japan, which welcomed a record 36.8 million visitors in 2024, the highest in its history.

Beyond simply an increase in visitor numbers, the profile of travelers is also evolving.

“We expect to see a continued diversification of travel styles, including 'bleisure' travel, where business travelers extend their trips for leisure activities,” says Bracciani.

Despite the challenges posed by rising costs, the sector is proving popular with investors. Hotel transaction volumes in the Asia Pacific region are projected to reach $12.8 billion in 2025, marking a 5% year-on-year increase, JLL data shows.

“Growth in trading performance in 2025 is likely to mirror that of last year amid uncertainty surrounding the region," says Bracciani. “Southeast Asia, India, and Japan are poised for robust growth, while Australia is expected to expand moderately, and Greater China is anticipated to experience a gradual recovery.”