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Asia-Pacific
Accor Opens World’s Largest Mercure Hotel in Singapore
Accor has opened the world’s largest Mercure hotel in Singapore, featuring extensive amenities and a prime location between Chinatown and the CBD. -
Asia-Pacific
Accor Buys Back Some Shares from Jinjiang
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. -
Asia-Pacific
Philippines Begins 2024 With a 23% Tourism Bump
The Philippines Dept. of Tourism reported that from January to March 4 this year, over 1.23 million international travelers visited. -
Asia-Pacific
Thailand’s Real Estate Outlook
Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors. -
Asia-Pacific
Hyatt Unveils Tokyo Shibuya Hotel
Hyatt Hotels Corporation announced the opening of Hyatt House Tokyo Shibuya. They reached an agreement with Tokyu Land Corporation earlier in the month for the 126-room hotel which includes 18 suites. -
Asia-Pacific
Langham’s Three Hotels in Xiamen
Langham Hospitality Group has signed management agreements for three hotels on a single plot. The newly built properties are part of Xiamen Seaworld which is China Merchant Group’s mixed-use development that is perched on the western shore of Xiamen’s main island. -
Asia-Pacific
India’s Hotel Sector to Hit Decade-High for Revenue
The Indian hotel industry is expecting to report a 7-9 percent revenue growth in FY2025 with occupancy likely to be at decade highs. -
Asia-Pacific
Minor Is Bullish on Thailand
Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast. -
Asia-Pacific
Marriott Debuts Moxy in India
Marriott International had the pleasure of debuting their Moxy Hotels brand in India while also expanding their JW Marriott brand to the city of Surat, Gujarat. -
Asia-Pacific
China Sees RevPAR Surge 54% Year-Over-Year
STR reported a 54.2% increase in China’s hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG’s voco Amritsar Airport and Radisson’s Uday Palace Navsari targeting diverse locations.