Vivanta

In February 2024, major Indian hotel markets experienced near double-digit ADR growth and slightly higher occupancy rates, with notable increases in Hyderabad and Goa despite occupancy dips, and overall performance surpassing February 2019 levels.

Cambodia's tourism, rebounding to 82.5% of 2019 levels in 2023, aims to boost Chinese visitation, focusing on initiatives including potential mutual visa-free policies and increased flights.

In February 2024, Sydney and Melbourne, Australia, experienced record hotel occupancy and rates, attributed to Taylor Swift's Eras tour, with significant yearly increases in occupancy, average daily rates, and revenue per available room.

Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.

Centara Hotels & Resorts announced its expansion plans at ITB Berlin. Their sustainable strategy is to introduce its style of family-centric hospitality to multiple new markets, striving to become one of the planet’s top 100 hotel operators by 2027.

Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline.

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.

Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast.

China launches a pilot project allowing visa-free travel for visitors from several countries, with Malaysia reciprocating for Chinese and Indian visitors. IHG, Accor, SM Hotels, Hilton, and Artyzen Hospitality Group announce new properties and partnerships across Asia. The former Palazzo Versace in Australia is up for sale with a $100 million price tag.

Singapore saw a significant rise in international visitor arrivals in October, notably from China and Indonesia. Meanwhile, The Philippines plans to develop 48 new hotels by 2028. Several hospitality brands announced major expansions, including The Standard International's new The StandardX in Melbourne, Australia, and Accor opening Mercure Tokyo Haneda Airport. Indian Hotels Company formalized a partnership for a new Vivanta hotel in Kochi, India, and Crowne Plaza in Chennai, India will be replaced by luxury apartments.