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Asia-Pacific
Maldives Saw Resort Revenue Drop in 2023
The Maldivian tourism sector experienced a significant revenue decline last year, with resort revenue dropping by $529 million and total tourism revenue decreasing from $5.4 billion to $5 billion, attributed partly to a shift towards guesthouses over traditional resorts. -
North America
Selina Becomes a Nickel Stock
Lodging stocks and the broader market traded and closed higher on Friday, but Selina decided to go its own way and closed at a new all-time low. -
North America
WTTC Projects Record-Breaking Year for Travel
The World Travel & Tourism Council predicts 2024 will be a record year for the sector, with an economic contribution expected to hit $11.1 trillion, indicating robust growth and significant job creation. -
North America
Hilton Taking Over NoMad Brand
Hilton acquires a majority stake in Sydell Group to globally expand the NoMad Hotels brand, with plans for up to 100 properties and integration into Hilton’s commercial platforms, while NoMad Las Vegas will rebrand, addressing Hilton’s gap in the luxury market. -
North America
Wyndham Expands in the Extended-Stay Sector
WaterWalk, Wyndham’s 25th brandstands out from other hotel brands in that it lets owners sell a mix of rooms, with about 60% marketed as extended-stay hotel rooms and about 40% marketed as short-term rentals. -
Asia-Pacific
Hilton Plans 75 Hotels in India
Hilton aims to triple its India portfolio to 75 hotels in three to four years, expanding into emerging markets like Ayodhya and introducing luxury brands, with a focus on tier-I markets and the growing wedding segment. -
North America
Las Vegas Lifts U.S. Hotel Performance
U.S. hotel performance in February 2024 saw modest revenue gains driven largely by Las Vegas and major events, with luxury and upscale chains leading growth amidst varied demand across other segments. -
Asia-Pacific
India Hotel Investment Activity Recap
India’s hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism. -
North America
CitizenM’s Potential Sale Highlights Value in Boutique Sector
The owners of the CitizenM hotel chain, valued at 2 billion euros five years ago and now expected to double in sale price, are considering selling the rapidly expanded brand with over 40 global locations. -
North America
IHG’s New Prototypes for 3 Brands
IHG Hotels & Resorts unveiled new prototype options for Staybridge Suites, Candlewood Suites, and Atwell Suites, set to roll out by Q2 2024 and debut in properties as early as 2025.