Dubai

STR reported Melbourne, Australia’s hotel performance reached a pandemic era high, according to preliminary October 2022 data from STR. Occupancy for the month was 69.9%, ADR was A$232.07 and RevPAR was A$162.21. The market’s ADR level was the highest for any month on record while occupancy and RevPAR were the highest since February 2020 and November 2019 respectively. […]

Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. This follows the commentary over the weekend, once again, that the government will maintain the policy even as global stock markets buy China-related stocks in hopes of a reopening soon. China reported its highest number of Covid-19 infections in six months on […]

There are two things that are a near certainty these days in the stock market. The first is the market has a really good chance of being up on Fridays and will crater during and especially after Fed Chief Powell holds his press conference. The DJIA ended the day down 505 points while Nasdaq was down 366, the S&P […]

Looking at India’s hotel sector, JLL said contracts in mid-market and budget brands grew 74% between January and September 2022 as compared to the same period in 2019. There management contracts are largely for smaller hotels with about 50 rooms on an average in tier 2 and 3 cities. International operator signings went up 36% from 36 hotels with 4,794 rooms in […]

STR reported China hotel RevPAR for the week ended 10/15. Hotel RevPAR in China was down -35.5% year over year while down -52.5% when up against the same week in 2019. Absolute occupancy for the week in 2022 was 46.2%. That compares with 65% during the comparable week in 2021. Hyatt Hotels announced the opening of […]

Macau saw 65,677 visitor arrivals over the weekend in the first two days of the National Day Golden Week. There were 37,442 people recorded on Saturday, signaling the highest daily visitor volume since June 2022 pandemic outbreak. Marriott International announced their JW Marriott brand opened the JW Marriott Khao Lak Resort Suites, an all-suite luxury retreat nestled in a serene […]

Dajia Insurance Group Co has put three hotels in the U.S. up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. The Wall Street Journal reported Dajia put up for sale the Montage in Laguna Beach, California; the Four Seasons resort in Jackson Hole, Wyoming; and the Four Seasons in […]

JLL’s Hotels & Hospitality Group’s latest Hotel Investor Sentiment Survey suggests hotel investment in Asia Pacific will continue to recover in the fourth quarter of 2022 and into 2023 with more investors looking to deploy the highest levels of capital since the pandemic started. The survey shows approximately 80% of investors plan to be net buyers in 2022. Approximately […]

Marriott International announced it expects to open 14 additional luxury properties in Asia Pacific by the end of 2023. Marriott currently operates 156 luxury properties in the region. The Ritz-Carlton brand is set to expand in Japan with The Ritz-Carlton, Fukuoka opening in 2023. In Australia, the anticipated opening of The Ritz-Carlton, Melbourne will open in early 2023 […]

A rebound in foreign tourist arrivals into Thailand is pushing up the nation’s hotel occupancy rate from a record low during the pandemic. The Bank of Thailand and the Thai Hotels Association released a joint survey of 106 hotels. The survey found the average room occupancy at Thai hotels was 48% in August, up from 46% […]

The Macau Statistics and Census Service said six hotels in Macau stopped providing accommodation services to the public in July, during the Covid outbreak. That brought the region to 115 hotels and guesthouses, and the biggest drop since the Statistics and Census Service began collecting such data in January 2019. The statement did not clarify if […]

Toyosu is a relatively quiet area compared to the rest of Tokyo, Japan. It does have the world’s largest seafood market, the teamLab Planets digital art museum, and Kidzania. Soon there will be an Ibiza-inspired resort opening, complete with a dining hall and outdoor barbeque facilities. The Kiranah Resort Toyosu will open on August 26. It will occupy a […]