Tourism is booming across Asia with hotels reporting high bookings for May Day Golden Week and companies like Ascott Limited expanding their portfolios. Thailand said it would continue its subsidy scheme for domestic tourists during the low season.
The global hotel industry continues to expand, with IHG celebrating its 50th year in China while Mandarin Oriental plans a $100 million renovation in Hong Kong.
Asian hospitality sector experiences mixed performance with China hotel RevPAR declining, while MGM debuts new brand MGM Reserve and Minor International, Four Seasons, and OYO-parent Oravel Stays announce expansion plans.