Ras Al Khaimah

Finn Partners released the results of their latest report, Outbound Rebound: The Return of Chinese Travelers. The survey was conducted in mid to late-January, started days after the Chinese government lifted international travel restrictions after 3 years. Over 2,000 affluent Chinese in first, second and third tier cities were interviewed. The findings included that one in two affluent […]

Marriott International announced it signed an agreement with China Central Place, Suzhou to bring the Ritz-Carlton and Marriott Executive Apartmentsbrands to Suzhou, a major city in Eastern China. The two complex properties are expected to open at the end of 2024 and the middle of 2025, respectively. The dual-branded properties will open in partnership with Suzhou Chunji Real Estate Development. They will […]

STR reported China hotel RevPAR for the week ended December 3. RevPAR was down -2.6% on a year-over-year basis while down -40.2% against the same week in 2019. Absolute occupancy for the week was 49.5%, which compares with 47% during the comparable week last year. More reports are coming out about China’s decision to roll back Covid-Zero rules. People […]

Bloomberg published an article suggesting Fosun International Ltd. is exploring the potential for sales of most of the company’s divisions, seeking capital to repay debt. Bloomberg said the company told advisors its domestic food and beverage business is available for potential investors or buyers, and is considering strategic options for its investment in electric vehicle […]

Hong Kong announced plans to further ease its arrivals quarantine requirements. As of this Friday, overseas visitors will be subject to three days of compulsory hotel quarantine, down from the current seven. They will have to undergo a further four days of medical surveillance, during which they must test daily. If they test negative each day, they […]