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Asia-Pacific
Oyo Said to Seek $400 Million Fundraise
Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round for OYO Hotels & Homes Pvt. -
Asia-Pacific
Sydney Hotels Achieve Record-Breaking Occupancy and Rates
Sydney hotels achieved their highest occupancy levels on New Year’s Eve at 94% followed by 93.8% on December 2nd. There were only two days in the month when occupancy was not above the 60% mark. -
Asia-Pacific
Mandarin Oriental Unveils Three Resorts in Japan
There are notable expansion and renovations worldwide, including the opening of the Hyatt Place Bodh Gaya in India, the launch of Mondrian Hong Kong, and the extensive refurbishment of Peppers Marysville in Australia’s Yarra Valley. Osaka, Japan, aims to attract 20 million visitors annually with the new MGM Osaka resort. Mandarin Oriental announces plans for three unique resorts in Setouchi, Japan. -
Asia-Pacific
Aman to Launch Janu Brand in Tokyo
Aman Group is launching a new brand, Janu, in Tokyo with its flagship property featuring luxury amenities, including a large wellness center and various dining options. Several hotel management changes and expansions are announced: Rosewood Hotels & Resorts in New Zealand, The Leela Palaces, Hotels and Resorts in Sikkim, India, and Ramee Group of Hotels entering Tamil Nadu, India. New developments and reimaginings in the hospitality industry include Megaworld’s new township in Puerto Princesa, Palawan, Townplace West Kowloon in Hong Kong launching a new social club, and SAii Resorts in Thailand undergoing extensive renovations. -
Asia-Pacific
Tokyo Leads Asia with Record Occupancy and Rates
Notable are the predictions of 3% to 8% hotel rate hikes in 2024, with Asia leading in occupancy growth. Accor’s execution of management agreements for 69 properties across Asia, enhancing its portfolio with over 16,500 keys, is a major development. The reopening of the Mandarin Oriental Singapore after a multi-million dollar transformation underscores significant refurbishment investments in the industry. -
Asia-Pacific
Macau’s Events Attendance Reaches 96% of 2019 Levels
Macau’s gaming tourism area hosted over 245 MICE (Meetings, Incentives, Conferences, and Exhibitions) events in the third quarter of 2023, a 231% increase from the previous year. Several new hotels are opening or being signed across Asia, including the Four Seasons Hotel Suzhou in China, the first TRIBE NATION hotel in China, and Mandarin Oriental’s Villa Mayavee in Phuket Mohegan Inspire Entertainment in South Korea begins a soft opening of its non-casino areas, and Indian Hotels Company announces its sixth Ginger brand hotel in Kerala, India. -
Asia-Pacific
Trip.com Reports Surge in China Inbound Travel Searches
Today’s report highlights significant growth in global search results for inbound travel to China, with Trip.com noting a nearly 40% increase in 3Q23. New properties and expansions are underway, including The Grand Mercure Lampung Hotel in Indonesia and the first Four Points by Sheraton in Kuala Lumpur. The Imperial in New Delhi is undergoing a significant reinvention, including refurbishing historical furniture and revamping its food and beverage operations. -
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
Ultraluxury Resort Boom in Japan
Asian ultraluxury resort companies are expanding into Japan to cater to wealthy overseas travelers and take advantage of the weak yen, with Soneva Holdings planning to open resorts in Japan by 2027 and investing 100 billion yen in new properties. Foreign investment in Japanese hotels increased significantly in recent years, with 2022 seeing a sixfold increase compared to the previous year, and an expected total of 128.5 billion yen in investments in the first six months of the current year. International hotel brands like InterContinental, Wyndham, Marriott, Hyatt, and Accor are actively expanding their presence in various regions, including India, Vietnam, China, Thailand, and Australia, offering a diverse range of accommodations and amenities. -
Asia-Pacific
Radisson’s Luxury Brands Expand in Southeast Asia and the Pacific
Sentosa Island in Singapore is on track to recover its pre-pandemic visitor numbers within one to two years, with new projects like Raffles Sentosa Resort & Spa and Sentosa Sensoryscape expected to boost visitation. Macau SAR experienced a -28.6% decline in visitor arrivals in September, but it anticipates a potential increase in October, aiming to reach 24 million visitors by the end of the year. Accor has become the world’s largest player in extended-stay hotels outside of the United States, offering various brands such as Novotel Living and Adagio, with plans to open new properties in different locations.