Megaworld

Singapore's GIC is investing $88 million for 35% stakes in three SAMHI Hotels units to develop upscale hotels across India.

Marriott CEO Anthony Capuano highlighted the company's strong growth in India, emphasizing local decision-making, expansion into smaller cities, increased female employment, and reducing bureaucratic and travel barriers to boost international tourism.

Hyatt Hotels is experiencing strong growth in India, focusing on experiential luxury and strategic expansion, aiming to double its hotel portfolio within five to six years.

CoStar's STR reports uneven growth across Asia-Pacific markets in 2024, with Japan and Vietnam showing the strongest potential for continued growth.

The Hotel Management Contract Survey 2024 by JLL and Baker McKenzie found that the average term of hotel management agreements in Asia Pacific increased to 17.4 years, with varying durations by market, declining base fees, rising sales and marketing fees, and a growing focus on performance-based incentive fees and termination provisions.

Aman Group is launching a new brand, Janu, in Tokyo with its flagship property featuring luxury amenities, including a large wellness center and various dining options. Several hotel management changes and expansions are announced: Rosewood Hotels & Resorts in New Zealand, The Leela Palaces, Hotels and Resorts in Sikkim, India, and Ramee Group of Hotels entering Tamil Nadu, India. New developments and reimaginings in the hospitality industry include Megaworld's new township in Puerto Princesa, Palawan, Townplace West Kowloon in Hong Kong launching a new social club, and SAii Resorts in Thailand undergoing extensive renovations.

Cushman & Wakefield reported significant growth in China's hotel industry, with domestic tourism on the rise and strong performance in the hotel market. Las Vegas Sands is embarking on a $3.3 billion expansion project in Singapore, while Wyndham Hotels & Resorts is expanding in Vietnam, including a massive complex on Bai Dai beach. Fine Acers Hotels and Resorts Pvt Ltd is partnering with Wyndham Hotels & Resorts to open a luxury Wyndham Grand Hotel & Branded Residences in Amer, Jaipur, India.

Bloomberry Resorts ' new integrated resort in Quezon City , Philippines, Solaire Resort North, is facing further delays, potentially pushing the opening from the first quarter of 2024 to the second quarter. Philippines developer Megaworld is set to open the country's largest hotel complex, Grand Westside Hotel, in Manila's Entertainment City, with the first tower opening before the end of the year and the second tower in 2024. Discovery World Corp has opened a five-star resort hotel, Discovery Samal, in Limao, Philippines, featuring 128 hotel suites and extensive facilities, aiming to boost tourist arrivals in the region.

H World Group sells one-fifth of its OYO stake, generating 500% return on investment. Dalian Wanda Group seeks to offload assets amid financial challenges, including selling a Shanghai hotel and shopping malls. IHG Hotels opens new Holiday Inn property in Melbourne, featuring modern amenities and conference facilities.

China's hotel industry shows strong recovery with a significant increase in RevPAR, benefiting companies like STR and driving pent-up travel demand, particularly from Chinese tourists. Major developments in the hospitality sector are underway in various locations, including Thane (Maharashtra) where Oberoi Realty plans to develop a luxury hotel managed by Marriott International or Hyatt, and Dhaka (Bangladesh) with multiple new five-star hotels expected to open in the coming years. Hotel projects and expansions are also taking place in Nagoya (Japan), Tokyo's Shinjuku area, San Fernando (Pampanga, Philippines), and Nha Trang (Vietnam), indicating growth and investments in these respective regions.