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Asia-Pacific
Indian Hotels Company Signed 32 New Hotels in 2023
In 2023, the Taj brand strengthened its presence in key metro and commercial cities, including Delhi, Cochin, Dhaka, and Bhutan. Vivanta and SeleQtions collectively added 17 hotels while Ginger signed agreements for six new hotels. -
Asia-Pacific
Minor Is Bullish on Thailand
Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast. -
Asia-Pacific
Banyan Tree Celebrates 30th Birthday With a Rebranding
Banyan Tree Group is celebrating its 30th anniversary with the change in name to Banyan Group. The company said the brand shift reflects the group’s evolution into a dynamic, multi-brand hospitality powerhouse. -
Asia-Pacific
The Peninsula’s Parent Company Seeks a New CEO
The Philippine Department of Tourism achieved over 5 million international visitors in 2023, nearing pre-pandemic levels, with a focus on their National Tourism Development Plan 2023-2028. China’s tourism rebound is driven by domestic demand, though sustainability into the next year is uncertain. The Hongkong and Shanghai Hotels announced executive changes effective 2024, with a formal search for a new CEO. -
Asia-Pacific
Wyndham Grand Makes Debut in Kuala Lumpur
Wyndham Grand debuts in Kuala Lumpur and Hilton’s Curio Collection enters India, while Hotel Indigo Sydney Potts Point launches after a significant refurbishment. Hyatt and IHCL plan extensive expansions in India, while Genting invests in Sentosa. The Westin Tokyo undergoes a major makeover, and Candeo Hotels integrates a historic temple in Osaka. -
Asia-Pacific
Accor Welcomes 23 Mercure and Grand Mercure Hotels in Japan
Accor is rebranding 23 Daiwa Resorts properties in Japan as Mercure and Grand Mercure hotels in 2024. The first Hyatt Place hotel in Johor Bahru, Malaysia, is now open, connected to Paradigm Mall. Swiss-Belhotel International rebranded an upscale property in Surabaya, Indonesia, as the Grand Swiss-Belhotel Darmo. -
Asia-Pacific
Oyo Reported to Get More Financial Backing
Macau’s Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists. Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations. Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia. -
Asia-Pacific
China Outbound Tourism to Fully Rebound by Late 2024
The World Travel & Tourism Council predicts that it will take about a year for popular tourist destinations worldwide to see a significant return of Chinese visitors, with challenges like visa and passport difficulties slowing the process. IPK’s survey indicates a strong travel recovery from China, particularly to Europe, in 2024, with around 50% of respondents planning to travel abroad in the next year. Europe is the preferred destination, while travel to the US is less frequent due to limited flight options and geopolitical factors. Dusit International announces the launch of two new hotel brands, Dusit Collection and Devarana – Dusit Retreats, aiming to offer unique and authentic travel experiences and expand into untapped markets. Additionally, Lemon Tree Hotels opens a new property in Haridwar, Uttarakhand, featuring suites and rooms, a restaurant, bar, banquets, and a fitness center. -
North America
First Hospitality Buys 17 Hotels in Hostmark Deal
DJIA, Nasdaq, and S&P 500 all experienced declines while the 10-year treasury yield rose to 4.32%. Lodging stocks had mixed performance. Truist updated price targets for lodging/hotel group stocks, with several adjustments both up and down. Various hotels announced renovations, expansions, and new locations, including the Westin Denver Downtown, Hyatt’s growth plans, and the EV Evolution Venue Hotel in Tampa and Washington, DC. -
Asia-Pacific
Taylor Swift Concerts Boost More Hotels
China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%. Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties. Vietnam’s tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels.