Fukuoka

Bloomberg reported on the boom in hotel investment in Japan. We recently reported on the appetite Blackstone has for Japanese real estate, particularly hotels. The Bloomberg article expanded on that, saying foreign investors, including Goldman Sachs Group, KKR & Co, and Blackstone, have spent a combined $2 billion on hotel deals in Japan so far this year, the most compared […]

Radisson Hotel Group told the media they will open more premium and luxury hotels in Thailand over the next five years, taking advantage of a rapidly recovering tourism industry there. Radisson plans to open 12 to 15 hotels each year in Thailand, Cambodia, Laos and Vietnam. 70% of them will open in Thailand with the remaining 30% spread across the three […]

STR reported China hotel data for the week ended March 18. China hotel RevPAR rose 134% on a year-over-year basis, up against an easy -46% comp result in 2022. When compared with the same week in 2019, RevPAR was down -14%. Sabre said after sifting through its extensive shopping and booking data to examine the impact of the reopening […]

CNBC produced a segment on how hotel rates in Asia Pacific are surging. Squawk Box Asia late last week interviewed Alan Watts, Hilton’s Asia Pacific president who told them rates are at an all time high, clearly following the same pattern rates did in the United States after they opened up the country. Watts said the rates are being […]

The Philippines Hotel Sales and Marketing Association said hotels in the country remain optimistic of the industry’s performance this year as the average occupancy has already surpassed pre-pandemic levels. For the month of January, hotels were hitting 80% occupancy as compared with 60% to 70% pre-pandemic.  The association attributed the higher occupancy to the strong domestic tourism market, which covers […]

The World Travel & Tourism Council’s Cities Economic Impact Report showed travel and tourism’s direct contribution to Sydney, Melbourne and Perth’s GDP and jobs continues to rise. Prolonged border closures in Australia and key markets such as China means visitor spending numbers are still low. In 2019, Perth’s travel and tourism sector contributed over A$4.5 billion to the […]

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 […]