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Asia-Pacific
India Hotel Investment Activity Recap
India’s hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism. -
North America
Rosewood Talks Its Global Pipeline
The Rosewood Hotel Group is set to expand its global presence and enhance its portfolio, which currently includes 48 properties across 23 countries, with new openings in Europe, Asia Pacific, the Middle East, and the Americas, alongside growing its residential business. -
Asia-Pacific
Marriott Points to Its South Asia Development Pipeline
Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline. -
Asia-Pacific
Seibu Prince Is Creating a New Membership Program and Unifying Its Brand
Seibu Prince Hotels will offer a consolidated membership program and unify its brand identity under a single brand. -
Asia-Pacific
China Sees RevPAR Surge 54% Year-Over-Year
STR reported a 54.2% increase in China’s hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG’s voco Amritsar Airport and Radisson’s Uday Palace Navsari targeting diverse locations. -
Asia-Pacific
Trip.com Reports Surge in China Inbound Travel Searches
Today’s report highlights significant growth in global search results for inbound travel to China, with Trip.com noting a nearly 40% increase in 3Q23. New properties and expansions are underway, including The Grand Mercure Lampung Hotel in Indonesia and the first Four Points by Sheraton in Kuala Lumpur. The Imperial in New Delhi is undergoing a significant reinvention, including refurbishing historical furniture and revamping its food and beverage operations. -
Asia-Pacific
New Singapore Hotel Transforms Decommissioned Buses into Luxury Suites
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. -
Asia-Pacific
Las Vegas Sands’ $3.3 Billion Singapore Expansion
Cushman & Wakefield reported significant growth in China’s hotel industry, with domestic tourism on the rise and strong performance in the hotel market. Las Vegas Sands is embarking on a $3.3 billion expansion project in Singapore, while Wyndham Hotels & Resorts is expanding in Vietnam, including a massive complex on Bai Dai beach. Fine Acers Hotels and Resorts Pvt Ltd is partnering with Wyndham Hotels & Resorts to open a luxury Wyndham Grand Hotel & Branded Residences in Amer, Jaipur, India. -
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. -
Asia-Pacific
Wyndham Bets on Wellness in Phuket
Radisson Hotel Group expands its portfolio in the Asia Pacific region, adding over 60 hotels in Vietnam , India , Thailand , the Philippines , and China . IHG Hotels & Resorts introduces Vignette Collection to Phnom Penh , Cambodia, with the upcoming opening of Vignette Collection Phnom Penh Odom, following the success of Six Senses Krabey Island. Hilton opens Conrad Shenzhen in China’s Qianhai business district, featuring 300 rooms and providing elevated luxury accommodations in the city’s financial center.