ITC Hotels

STR reported Chinese hotel data for the week ended September 16th. Chinese hotel RevPAR was up 59.6% year over year. The week’s RevPAR was up against an easy decline of -11.5% year over year in the comparable result in 2022. Versus the same week in 2019, RevPAR was down -5.1%. The Philippines has welcomed 3.87 […]

The World Travel & Tourism Council is predicting it will be a year before the world’s tourist hotspots see a massive return of Chinese visitors. The WTTC said difficulties in getting visas and passports are one key bottleneck. The WTTC predicts that Chinese cross-border travel could return to pre-pandemic levels by the end of 2024 and steadily grow […]

STR reported China hotel data for the week ended September 9th. China hotel RevPAR was up 58.1% year-over-year, up against a decline of -12.3% in the year-ago week. Compared with the same week in 2019, RevPAR was up 10.3%. The Hong Kong Tourism Board said HK recorded preliminary visitor arrivals of about 4.1 million in August, representing […]

STR reported China hotel data for the week ended August 26. China hotel RevPAR was up 50.4% year over year. It was up against a 48.2% comp. Compared with the same week in 2019, China hotel RevPAR was up 19%, a solid result once again. A survey by the Thai Hotels Association and Bank of Thailand found that 29% of hotels rated […]

Bloomberg reported on the boom in hotel investment in Japan. We recently reported on the appetite Blackstone has for Japanese real estate, particularly hotels. The Bloomberg article expanded on that, saying foreign investors, including Goldman Sachs Group, KKR & Co, and Blackstone, have spent a combined $2 billion on hotel deals in Japan so far this year, the most compared […]

STR said the FIFA Women’s World Cup 2023 had given hotels around Australia and New Zealand a performance boost during the usually quiet winter season. Nine hotel markets/submarkets between Australia and New Zealand hosted matches during the tournament. All but one of those experienced a noticeable jump in RevPAR when comparing group stage dates from July 20 to August 2 against the 19 […]

According to a report by Morgan Stanley, Bloomberry Resorts’ new Quezon City integrated resort in the Philippines, Solaire Resort North, will be delayed even further. The opening had been pushed back to the first quarter of 2024, but Morgan Stanley thinks it will be pushed back to the second quarter but did not give any reasons for the likelihood of the […]

The Wall Street Journal published an article on how Chinese investors are fleeing the Western world, no longer having New York City hotels as their favorite place to put their funds. The report said the change is due to hostility to Chinese capital and that Chinese companies are now spending money on factories in Southeast Asia and mining and energy projects […]

Hotel Properties Limited co-founder and managing director Ong Beng Seng had a notice of arrest and then bail set. While no charges were filed against Ong, he was detained so he could be asked by the Corrupt Practices Investigation Bureau to provide information on his interactions with Singapore Minister for Transport S Iswaran. The minister is on leave of absence […]

The Philippines Department of Tourism said they have already beaten last year’s full tourist arrivals target. As of June 26, the DOT said visitation was 2.64 million which is above the 1.7 million tourist goal set for 2022. The DOT is targeting 4.8 million tourists for the year 2023 as part of its National Development Plan. […]

Philippines president Ferdinand Marcos Jr said he is aiming to transform the country into a tourism powerhouse in the coming year, unveiling a new tourism slogan “Love the Philippines”. The nation embarked on a five-year plan to boost visitor numbers and experiences across the country. International tourist arrivals so far this year have reached over 2.02 million with […]

The Japan National Tourism Organization announced that American visitor arrivals to Japan increased by 3.6% in the first four months of 2023 over the same January – April period in 2019. In the month of April alone, nearly 184,000 Americans visited Japan, up 8% over April 2019. That makes the US the only Western nation, aside from Mexico, […]