Trip.com data shows the global travel bookings for the summer (June 1 – August 31) already has surpassed the 2019 level with intra-regional travel leading the way. Overall bookings on the Trip.com platform for the summer increased by 170% when compared to the same period in 2022, up by 356% year over year in Asia. European markets are up 72%. Short-distance flight bookings account for 44% of all bookings in Asia and 67% in Europe. The most booked cities in Asia are Bangkok, Seoul, Tokyo, Hong Kong and Taipei while Singapore and Jeju City at 7 and 10 are in the top 10 and the two that are casino destinations. European users are in a wait and see mode for long distance travel but Trip.com said search data shows Europeans are looking for hotels in Asian and Middle East destinations with Bali, Dubai, Bangkok, Hong Kong and Marrakech listed in the Top 10 most searched hotel destinations.
The Pacific Asia Travel Association released updated forecasts for 39 Asia Pacific destinations, showing a very strong increase in aggregate international visitor arrivals under each of three scenarios in 2023, with robust annual growth expected to continue to the end of 2025. Predicted international arrival numbers in 2023 range from 705 million under the mild scenario to 516 million under the medium scenario and almost 390 million under the severe scenario, equating to visitor numbers in 2023 that exceed that of pre-pandemic 2019 by 3.3% under the mild scenario but still nearly 25% short under the medium and 43% behind under the severe scenario. PATA’s latest report suggests mainland China will have very strong annual growth rates in 2023, not that it would be difficult considering it is up against the Zero Covid attempt. That being said, they don’t expect China to make a run at 2019 volumes under any of the scenarios until 2024. Overall PATA said Covid, the conflict in Ukraine, a softening global economic outlook with rising inflation and the increased cost of international travel will all have to be dealt with in ways that satisfy the increasingly diverse demands of the traveler of both today and tomorrow.
Fitch Ratings upped their outlook for OYO’s parent company, Oravel Stays, to Positive from Stable. Fitch believes OYO is on track to generate positive EBITDA and cash flow. They expect the demand recovery in the travel industry to drive revenue growth over 20% and their cost-reduction measures to support improving profitability.
Hilton announced the opening of Hilton Garden Inn Da Nang in Vietnam. The hotel is situated four kilometers from the city center along the renowned My Khe beach, a 15 minute car ride from Da Nang International Airport. The 234-rooms all come with beach views and include seven different room types. They range from 26-square-meter layouts to a 60 meter junior suite with two balconies. The Hilton Garden Inn Da Nang brings the brand’s all-day dining concept, Together & Co., to South East Asia. Other options include the T&Co. Lobby Lounge and T&Co. Rooftop bar on level 27. The hotel also offers a grab and go retail space, a fitness center and yoga terrace, rooftop infinity pool and multi-functional event spaces. The Hilton Garden Inn Da Nang is owned by Hai An Investment Trading and Import Export Joint Stock Company and joins a portfolio of 12 trading and pipeline Hilton hotels in Vietnam. Hilton will also welcome Hilton Saigon and La Festa Phu Quoc, Curio Collection by Hilton this year, which marks the lifestyle brand’s entry into Vietnam.
Interval International recently affiliated ALMA, the high-end resort owned and operated by Paradise Bay Resort Company Limited. The property stretches across 30 hectares on Vietnam’s Cam Ranh peninsula. ALMA has nearly 600 suites and pavilions crafted for families, couples or friends with up to three bedroom layouts available. The resort offers 14 dining experiences on-site, 12 swimming pools and a spa with 13 private wellness villas. There also is a Splash Water Park for the young ones.
IHG Hotels & Resorts, in partnership with UD Hospitality Management and NTT Urban Development Corporation, has debuted its voco hotels brand in Japan with the opening of voco Osaka Central. The hotel has 191 guestrooms and suites and is built on the site of the former Kyomachi Building in Kyomachibori in Osaka. The hotel offers dining experiences including Lokal House and a bar and café, 24 hour gym and meetings and event spaces.
The 121-year-old P&O Hotel in Fremantle in Australia was sold to local hospitality owners and operators Adrian Fini and Nic Trimboli as they expand their presence in the city’s West End heritage precinct. The historic property was originally built in the 1830s as the Victoria Hotel then rebuilt in 1901 and renamed the P&O Hotel. It was most recently operated by Notre Dame University and is currently vacant. The two story, federation building occupies a 1,280 sqm site and has 32 rooms, communal bathrooms, a rear courtyard, small bar areas and a basement cellar. CBRE managed the sale on behalf of several private owners.
A consortium of billionaire hotel heavyweights Arthur Laundry and the Karedis family have entered exclusive due diligence to buy the Sheraton Grand Mirage on the Gold Coast for over $190 million. The two families are expected to pursue plans to revamp the entire property, which could include introducing luxury residences to the hotel, which is the Gold Coast’s only five star absolute beachfront resort. The resort is being sold by an international joint venture led by Star Entertainment who was hoping to get more than $200 million. The sale is being handled by McVay Real Estate, JLL and Colliers.
Corinthia has signed a hotel management agreement to operate a luxury resort in the Maldives in 2025. The developer of the luxury resort to be operated by Corinthia is Maarah Pvt Ltd. a Maldivian entity, affiliated with Maarah Holdings Ltd, a UAE company registered within the Dubai International Finance Centre, part of Niro Investment Group of Romania. Work on the first phase of the development of the resort located on the Kaafu Atoll has commenced and will feature two islands hosting a 73-key resort on the larger of the two and a second, smaller private island for exclusive use. Corinthia Maldives will feature aquatic-inspired architecture. The main pavilion and all villas are taking on forms and shapes that take inspiration from the gentle curves of the ocean’s Manta Ray. The resort will also include state of the art wellness facilities, multiple fitness spaces and a choice of five restaurants operated with internationally renowned brands.
Lemon Tree Hotels received approval from their board of directors for the additional acquisition of up to 9,67,200 Compulsorily Convertible Preferred Shares of Fleur Hotels from the APG Strategic Real Estate Pool N.V.. Lemon Tree currently holds 40.92% of CCPS issued by Fleur and this will up their stake to 58.91%.
