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Asia-Pacific
Maldives Saw Resort Revenue Drop in 2023
The Maldivian tourism sector experienced a significant revenue decline last year, with resort revenue dropping by $529 million and total tourism revenue decreasing from $5.4 billion to $5 billion, attributed partly to a shift towards guesthouses over traditional resorts. -
Asia-Pacific
Maldives Tourism to Surpass a Half Million Arrivals in 2024
In 2024, the Maldives surpassed 500,000 visitors, led by China as the top source, followed by Russia, Italy, and the UK, with an average stay of 7.8 days. -
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
Vietnam’s Hotel Room Supply Is on the Rise
Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026. -
Asia-Pacific
Chinese Outbound Travel Expected to Surge to Visa-Free Destinations
China’s outbound travel bookings for the upcoming Chinese New Year holidays have surged more than 10 times compared to the previous year. -
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
Hilton’s Planned Hotel Openings in Asia Pacific
JLL’s Hotel Momentum India report said a total of 59 hotels comprising around 4,700 keys were signed in India in the last quarter. Hilton announced some of their 2024 planned openings in the Asia Pacific region. First up will be Conrad Singapore Orchard on January 1. The Sri Lanka Convention Bureau is working to establish the country’s Northern province as a destination for MICE for South India . -
Asia-Pacific
China YoY RevPAR Growth up 103% but Still Short of 2019
China experiences a significant year-over-year increase in hotel **RevPAR**, while **India** anticipates robust growth in the hotel industry, driven by domestic and international tourism. Sri Lanka aims to revive its economy by offering free tourist visas to visitors from seven countries, as it targets five million foreign arrivals by 2026. Major hotel chains like Marriott, Hilton, and Red Planet are expanding their presence in Asia, while Sarovar Hotels opens an upscale Golden Tulip in Bhopal, India. -
Asia-Pacific
The Ascott Limited Unveils The Crest Collection in Asia
China hotel RevPAR for the week ending October 14th increased by 73.4% YoY, with a -35.5% comp from 2022, but was still down -18.3% compared to the same week in 2019. The Ascott Limited introduced The Crest Collection brand in Asia, opening three properties in Singapore, Indonesia, and Malaysia with heritage-themed hospitality experiences. Various hotel developments and transactions include Royal Orchid & Regenta’s new property in Mysuru, a 4-star hotel sale in Vadodara, Lemon Tree Hotels’ franchise agreement in Vadodara, Kenilworth Hotel’s upcoming project in Coimbatore, Bong Sen Corp’s plan to sell assets in Vietnam, and BWHSM Hotels’ expansion in Bangkok. Pride Hotels Group appointed Chandrashekhar Belose as Corporate Chief Engineer, focusing on sustainability measures. -
Asia-Pacific
Singapore and Thailand Lead the Hotel Recovery in APAC
Global hotel businesses are rebounding to pre-pandemic levels except in Asia-Pacific. Vietnam lags in recovery with reduced Chinese tourism and increased flight costs, despite aggressive hotel development since 2016. Macau’s August hotel occupancy averaged 88.7%, with significant visitor growth during the Golden Week, particularly from mainland China, showing signs of a robust recovery to near 2019 levels. Wyndham Hotels unveils its first Auckland hotel, Espire Hospitality launches the ZANA Forest Resort in India, and Ascott Limited partners with Vimut Hospital in Thailand to offer combined lodging and healthcare benefits.