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Asia-Pacific
Thai Hotel Rates Plunge
Thai hotel occupancy rates drop below 50% as government campaign termination impacts domestic and international markets. IHG Hotels & Resorts opens voco Ma Belle Danang in Vietnam . OYO plans to add 300 hill station hotels to its portfolio by August 2023 and aims for 1,800 new hotels overall. -
Asia-Pacific
New Marriott and Pan Pacific Properties in Singapore
Marriott International partners with Hiap Hoe Limited to bring the Aloft Hotels brand to Singapore, opening the largest Aloft branded hotel in the world with 785 rooms in Zhongshan Park. Pan Pacific Hotels Group unveils its flagship hotel, Pan Pacific Orchard, Singapore, featuring terraced greenery and a unique Atelier-in-Residence program, along with three dining concepts and a gin distillery. Gran Melia Nha Trang in Vietnam is set to open as an all-villa property with private pool villas, Asia’s first outpost of the Spanish restaurant Hispania, and a range of wellness offerings. -
Asia-Pacific
Vietnam’s Booming Hotel Sector
The global hotel industry is seeing increased activity with notable transactions in Vietnam, Macau, Japan, Sri Lanka, the Philippines, Thailand, and India. Key deals include Marriott International’s operation of seven hotels from Vinpearl in Vietnam, Accor’s new Novotel in Nara, Japan, and DoubleDragon’s launch of the largest hotel in Bonifacio Global City in the Philippines. Several hotel brands are expanding their footprints, with Wyndham Hotels & Resorts signing two agreements with Fulcrum Ventures Asia and Marriott International’s Fairfield brand entering Agra, India. -
Asia-Pacific
Chinese Domestic Tourism Surges During May Day Holiday
Chinese domestic tourism rebounds strongly, reaching 119% of pre-pandemic levels during the May Day holiday, while international travel remains slow. Fitch Ratings highlights the encouraging recovery trajectory of the domestic tourism industry, driven by pent-up demand and limited outbound flight options. Despite the increase in domestic trips, spending remains nearly flat due to factors such as low-income travelers, visits to lower-tier cities, and short-distance trips. -
Asia-Pacific
Cambodia to Revive Coastal Tourism Projects
A white paper on the Corporate Travel Management Market said some 84.5% of companies in China are expecting an increase in domestic travel business budgets for 2023 . Cambodia is making plans to finish developing large tourist areas along its coast on the Gulf of Thailand. Dusit Hotels and Resorts is set to expand its global and domestic footprints by opening three hotels in the next 30 days, including two new properties in Bangkok. -
Asia-Pacific
China Outbound Travel to Spike in Early May
Fitch Ratings said China’s domestic travel has seen a significant uptick in the first quarter of this year and is likely to gain momentum in the second quarter. Trip.com said the first round of outbound travel fever in China is coming ahead of the May Labor Day . The construction of Galaxy Entertainment’s Raffles at Galaxy Macau and Andaz Macau , as well as the resort of the phase 3 hotel project for the Cotai casino , is basically complete. -
Asia-Pacific
China Has 20,000 E-Sports Hotels
The total number of esports hotels in China exceeded 20,000 by the end of February this year, with the occupancy rate reaching an average of 60%. Trip.com said the interest in travel to mainland China has bounced back since the country resumed foreign visa applications. HVS Anarock’s latest report on India says occupancy will improve to 66% at hotels in 2023. -
Asia-Pacific
Foreigners Buying Japanese Hotels at a Higher-Than-Usual Rate
Bloomberg published an article saying foreign investors are buying up Japanese hotels at a scale unseen in almost a decade , as the nation’s tourism recovery, weak currency and low-interest rates drive an appetite from abroad. As expected, the Japanese government wasted no time in approving the Osaka prefecture Integrated Casino Resort plan once the Governor was reelected and the first poll came out showing a favorable view. Accor is expanding its presence in Japan with the signing of ibis Styles Tokyo Ginza East , centrally situated in the shopping and entertainment district of Ginza. -
Asia-Pacific
Japan Is Nearly Recovered But Thailand Still Lags
The Tourism Authority of Thailand expects the country’s tourism sector to generate up to 2.4 trillion baht in revenue this year, or 80% of earnings in 2019 . STR said Japan’s recovery is moving in the right direction as the current central administration continues to focus on growing both domestic and inbound tourism. The director of the Macao Government Tourism Office said the booking rate for Macau hotels over Easter was currently at between 50% and 60%. -
Asia-Pacific
Marriott Talks APAC Map Quest
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. Marriott International announced the milestone opening of hotel number 1,000 in Asia Pacific , signaling its continued confidence in the long-term growth potential of the region. Sabre said they have found strong demand among Chinese outbound travelers, despite high airfare costs.