Accor

Schloss Bangalore, owner of The Leela hotel chain, has filed for a US$599 million IPO to fund expansion and debt repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi managing the issue.

Marriott International opened its 50th property in Malaysia, the Penang Marriott Complex, featuring three hotels, while announcing plans to shift six Samhi Hotels in India to managed operations by October 2024.

Wyndham launches its first U.S. Registry Collection Hotel with the renovated Mining Exchange in Colorado Springs, offering 128 rooms, dining, a spa, an art gallery, and 15,000 square feet of event space.

Hilton plans to significantly expand its luxury hotel portfolio in Asia Pacific, aiming to surpass 150 properties by partnering with Small Luxury Hotels of the World and introducing new luxury brands to the market.

IHG Hotels & Resorts is expanding its presence in Thailand by introducing its new brand, Garner, and aiming to double its hotel portfolio in the country.

Hilton is rapidly expanding in China, opening its 700th hotel and targeting 100 new hotels annually, with plans to potentially open one every two days.

The DJIA, Nasdaq, and S&P 500 rose on Friday, while Canada's hotel industry saw a slight decline in occupancy in July 2024 after three months of increases.

Japan set a new monthly record of 3.29 million foreign visitors in July, driven by the weak yen and summer holidays.

Banyan Group has launched its first Banyan Tree hotel in Japan, located in Kyoto, and plans further expansion with four additional properties in development.

The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.