Asian hospitality sector experiences mixed performance with China hotel RevPAR declining, while MGM debuts new brand MGM Reserve and Minor International, Four Seasons, and OYO-parent Oravel Stays announce expansion plans.
China's hotel industry saw mixed performance during the Spring Festival, with some cities thriving despite an overall RevPAR decline, while Japan stood out among overseas destinations.
Grand Hyatt is rapidly expanding and enhancing its global portfolio, with over 10 new hotels opening by 2027 and extensive renovations across existing properties to meet the evolving needs of luxury travelers.
TPG Angelo Gordon, in partnership with Kenedix, is purchasing the Grand Nikko Tokyo Daiba hotel from Hulic Co. for $691 million as part of its strategy to invest in opportunistic real estate in Asia.
Wyndham Hotels & Resorts, the largest U.S.-based hotel company in China, has signed nearly 600 franchise agreements and opened almost 300 hotels in China over five years.
Hilton plans to double its focused service presence in Asia Pacific by expanding its mid-market hotel portfolio to over 1,000 properties, with ongoing regionalized brand initiatives and franchising expansion in key markets.
Marriott's St. Regis brand has opened its 60th global property, The St. Regis on the Bund, Shanghai, offering luxury accommodations, butler service, and multiple dining and wellness amenities.
Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.