Pullman

The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year, rising to $800 billion by 2027. China’s reopening will be a big catalyst for the growth, while a solid rebound is also anticipated for Japan, South Korea, and Australia, along with the return of international business […]

The Royal Thai Government announced a temporary tourist visa exemption scheme to passport holders of the People’s Republic of China and the Republic of Kazakhstan effective from September 25, 2023 to February 29, 2024. The government hopes this will get them to their tourism revenue target of 2.38 trillion baht. Chinese and Kazakhstani nationals will be granted […]

Accor Pacific announced that its partners have invested more than $300 million in hotel renovations and refurbishments since the beginning of 2022. Extensive renovations and refurbishments have occurred in various locations throughout the Pacific region, including Australia, New Zealand, Fiji, and French Polynesia. The investment aims to enhance guest satisfaction, elevate property amenities and ensure Accor’s 400 hotels, apartments, […]

The South China Morning Post said Japan’s hotel sector drew a fivefold increase in overseas investment to US$691 million a year to date. A 3.4 billion yen deal by Hong Kong-listed Golden Resources Corporation for Japan’s Ni Corporation is likely to close as soon as the end of this month. Ni Corp owns 133 parcels of land […]

Radisson Hotel Group announced the 133-room Radisson Hotel Ploenchit Bangkok will open in the second quarter of 2024. RHG signed the former Chateau de Bangkok and will rebrand the upscale hotel on Soi Ruamrudee, situated just 400 meters from the US Embassy. RHG plans to double its footprint in Thailand from five hotels in 2022 to ten by mid-2024. The […]

Dow Jones published an article on how foreign investors are taking advantage of the low prices of hospitality properties in Vietnam to acquire hotels and resorts. The article cited the Marriott International deal in April to operate seven hotels and resorts from Vinpearl, including three existing hotels in Nha Trang, Hoi An and Da Nang. In February Singapore’s Lodgis Hospitality […]

The Ministry of Culture and Tourism in China said domestic travelers reached 274 million during the recent Labour Day Golden Week holiday, topping 120% of pre-Covid levels. Chinese domestic tourism revenue reached US$21.4 billion during the period, up 128.9% yearly, recovering to 101% of the same period in 2019. International flights recovered to around 40% over the […]

Hotels were reported to be full in parts of the Philippines during the Holy Week break. The Tourism Congress of the Philippines said an increase in tourist volume was observed in top destinations such as Boracay, Mactan in Cebu, Siargao, Bohol and Palawan. The Philippine Hotel Owners Association to Bworld that domestic tourism will bounce back […]

Reuters published an article on how the hoped for, fast out of the gate, revenge travel by the Chinese following the demise of Zero-Covid has not occurred. Instead of a stampede, it has been more like a fast walk. Reuters described Chinese consumers as returning to hotels, restaurants and some shops, but they are choosy about what they buy. […]

The DJIA fell 543 points while Nasdaq was down 238, the S&P 500 fell 74 points and the 10-year treasury yield was down .05 to 3.93%. There were a lot of reasons for the equity markets to go down today but the selling really accelerated after President Biden unveiled his budget. While the budget may have triggered selling, the concerns about banks should […]

STR said hotel RevPAR in China was up 58% year over year for the week ended February 25. It was up against a +29.5% comp in 2022. When compared with the same week in 2019, China hotel RevPAR was down -0.6%. The number of foreign tourists arriving in Vietnam in February reached 933,000, up 7.1% versus January. […]

STR said China hotel RevPAR for the week ending December 10, was down -6.4% year over year. When compared with pre-pandemic, hotel RevPAR in China was down -37.4% against the same week in 2019. Absolute occupancy was 50.5%, compared with 49.7% during the comparable week in 2021. Accor announced its list of highly anticipated properties that will open in 2023. […]