MANILA: The hotel industry may have some trouble meeting high demand this year as foreign tourist arrivals continue to outpace hotel developments, according to Leechiu Property Consultants Inc.
In its latest Property Market report, the real estate brokerage firm said tourist arrivals in the first quarter of the year reached 1.66 million, up by 18 per cent year-on-year. This marked the highest single-quarter arrivals in the postpandemic stage, it added.
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