-
Asia-Pacific
Accor Plans 30 New Hotels in India Within Five Years
Chinese tourists flocked to the Middle East during Golden Week, benefiting destinations like Dubai, Thailand, and Singapore. Plans were unveiled for a hotel in Braddon, Australia, with a unique design inspired by canyons, featuring 119 suites and retail tenancies. Accor plans to open 30 new properties in India, focusing on tier 2 and tier 3 cities, introducing additional brands like Swissotel, Movenpick, and Handwritten Collection. -
Asia-Pacific
Oyo Reported to Get More Financial Backing
Macau’s Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists. Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations. Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia. -
Asia-Pacific
Macau’s Golden Week Shatters Expectations with Surging Visitation Numbers
Macau’s Golden Week visitation exceeded expectations, with 769,000 people visiting in the first six days. RKM Enterprises opened Ramada by Wyndham Goa in North Goa with various amenities. Radisson Hotels Group plans to introduce its top luxury “Radisson Collection” in India and expand the Radisson RED brand in the country. -
Asia-Pacific
IHG to Debut an InterContinental in Chiang Mai
China’s travel and tourism sector is projected to grow by 150% to $1.48 trillion by the end of 2023 and contribute over $4 trillion to the economy by 2033, with significant job growth. Asset World Public Company Limited partners with IHG to launch the InterContinental Chiang Mai The Mae Ping, part of a larger mixed development project in Thailand. NH Hotel brand plans to build a 12-story hotel near Sydney Airport, while Fusion Hotel Group opens HIIVE by Fusion Binh Duong in Vietnam, emphasizing “Workation” tourism. -
Asia-Pacific
Many of Thailand’s Budget Hotels Are Struggling
China hotel RevPAR increased by 50.4% YoY, outperforming a 48.2% comparison and growing 19% compared to 2019, driven by strong recovery. Thai hotels, especially those with three stars or less, faced severe impact from interest rate hikes, uncertain tourism outlook, and competition, prompting calls for regulatory changes. New luxury hotels are opening in historic Japanese and Vietnamese destinations, while major hotel chains like Accor and Melia are expanding their portfolios in Singapore and Vietnam. Additionally, Meriton Suites is expanding luxury offerings across Australia. -
North America
Global Hotel Construction Sees Upscale Domination in Q2 ’23 With Hilton and Marriott Leading
Q2 ’23 saw 14,572 global hotel projects. Luxury and upscale chains dominate, led by Hilton, Marriott, and IHG. Urban hotels lag in post-pandemic recovery compared to resorts and suburban counterparts, with rate management playing a vital role. Notable new hotels, rebranding, and appointments are taking place, with Hilton, Riu Caribe, Choice Hotels, and Sonder making moves. London’s Broadwick Soho hotel is set to open with unique additions. -
Asia-Pacific
Foreign Investment to Japan’s Hotels Top $2 Billion This Year to Date
Foreign investors like Goldman Sachs, KKR, and Blackstone have invested $2 billion in Japanese hotel deals this year, driven by a hotel business rebound and favorable exchange rates. Hilton plans substantial growth in Southeast Asia, introducing a new Hilton Garden Inn prototype and adding seven new hotels in Malaysia, including new brands like Curio Collection and Waldorf Astoria. Accor expands across Asia with 30 new hotels, focusing on markets like Japan, Vietnam, Indonesia, and India, while also partnering to introduce the Swissotel brand to Malaysia with Swissotel Genting Highlands. -
Asia-Pacific
Dusit Aims to Double Portfolio to 100 Hotels by 2025
HCMC’s hospitality market remained gloomy in H1 2023 due to slow international tourist arrivals. Ascott Limited is refreshing its hotel-in-residence model, catering to varying lengths of stays with hotel services and amenities. Dusit International expands in Japan with Dusit Thani Kyoto and plans massive expansion in China and India . -
Asia-Pacific
Tokyo’s Domestic Tourism Rebounds to 2019 Levels
Tokyo domestic tourism bounced back to pre-pandemic levels in 2022, with 542.67 million Japanese tourists visiting, but foreign tourists declined by about 78% compared to 2019. Macau ‘s hotel industry showed significant recovery in June 2023, with an 89% average occupancy rate, and daily room rates increased by over 100% year over year. Beyond Stay , an Indian hotel chain, raised funds in a Pre Series A investment round to expand its presence in new locations and improve its technology infrastructure. -
Asia-Pacific
Accor to Debut 400 Movenpicks in China
China hotel RevPAR up 40.6% YoY, surpassing decline from a year ago. Philippines reaches 3 million international visitor arrivals, tourism receipts increase by 502%. Accor’s partnership with Sunmei Group plans to open over 400 Movenpick by Accor hotels in China.