Hotel Investment's Golden Era Over as Returns Decline

The article notes that hotel investment returns are declining and payback periods are lengthening. In Q2 2026, mature hotel RevPAR at major groups showed a downward trend. According to Hotel Home data, the number of hotels with 15+ rooms nationwide increased from 312,000 in 2023 to nearly 420,000 in 2026, a growth of over 30%. Investors are shifting towards property ownership and flexible revenue-sharing models to cope with longer payback periods.