Kolkata

Major hotel chains including Hilton, Hyatt, IHG, and Dusit International are rapidly expanding their presence across Asia Pacific.

In May, Indonesia saw a 20.1% year-over-year rise in foreign tourist arrivals to 1.15 million, with hotel occupancy reaching 54%, the highest since December 2023.

A new report says that hotel franchising is rapidly expanding in Southeast Asia, providing local hotel owners significant growth opportunities despite market challenges.

Maybank Securities forecasts significant revenue potential for Thai gambling complexes, but warns of initial profitability challenges and limited tourism industry benefits.

Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

India has now slipped to the fifth position for tourist arrivals into Maldives in January, with just over 13,000 visitors. This is per the latest data from the Maldives tourism industry and is quite different than the commentary last week from the Maldives.

79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market.

Wyndham Grand debuts in Kuala Lumpur and Hilton's Curio Collection enters India, while Hotel Indigo Sydney Potts Point launches after a significant refurbishment. Hyatt and IHCL plan extensive expansions in India, while Genting invests in Sentosa. The Westin Tokyo undergoes a major makeover, and Candeo Hotels integrates a historic temple in Osaka.

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 .

The Philippines is close to reaching its annual goal of 4.8 million tourist arrivals, with nearly 4.1 million arrivals in the first 10 months of 2023. South Korea remains the top source of inbound tourists. Hotel prices in Malaysia may increase by 30% due to a rise in the Sales and Services Tax, excluding food and beverages or telecommunications. Consumers are expected to pay higher room rates. Sri Lanka anticipates its best tourism year in 2024, with exceeding arrival and revenue targets for this year. Plans to accommodate higher arrivals include expanding accommodation in Colombo and other areas.