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Asia-Pacific
Centara Aims to Be a Global Hotel Operator
Centara Hotels & Resorts announced its expansion plans at ITB Berlin. Their sustainable strategy is to introduce its style of family-centric hospitality to multiple new markets, striving to become one of the planet’s top 100 hotel operators by 2027. -
Asia-Pacific
Jumeirah Group CEO Will Depart
Katerina Giannouka has left Jumeirah Group, one year into her time as CEO. Thomas Meier, CEOO, will serve as Interim CEO again. -
Asia-Pacific
Data on the Return of Chinese Outbound Travelers
Chinese travelers flocked to tourist hotspots across Asia over the Lunar New Year break, with visitor numbers and spending in destinations including Singapore, Thailand, and Malaysia exceeding pre-Covid levels. -
Asia-Pacific
China’s Hotel Construction Pipeline Hits Record High
According to the latest China Construction pipeline Trend Report from Lodging Econometrics, China’s hotel construction pipeline ended 2023 with record-breaking project and room counts -
Asia-Pacific
Vietnam Sets International Tourism Goal at 18 Million
A recent implementation of unilateral visa exemptions for 13 European countries was credited for the strong growth in arrivals from the UK, France, Germany, and Russia in January. -
Asia-Pacific
Regal Hotels’ $5 Billion Venture with Saudi Arabia
Malaysia led Southeast Asia in foreign tourist arrivals in 2023 with 26 million visitors, followed by Thailand with 24.6 million. Vietnam attracted 12.6 million foreign tourists, reaching only 70% of pre-pandemic levels, while Cambodia’s recovery rate was at 92.48%. Vietnam’s National Authority of Tourism set ambitious goals for 2024, aiming to match pre-pandemic tourism levels despite past challenges. The Philippines exceeded its 2023 tourism target, welcoming over five million international tourists and surpassing pre-pandemic international tourism revenue. Dusit Hotels and Resorts opened Dusit Princess Phatthalung in Thailand, its first in the far south of the country. Regal Hotels International announced a partnership with Saudi Arabia’s Ministry of Investment to build about 100 hotels globally, with a significant focus on the Middle East. -
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
Hotel Revenue Is Growing in Asia and Latin America
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. -
North America
New York City Market Dominating Recent Hotel Sales
As of November 11, 2023, 79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with leadership positions shifting from Europe to other regions as the Northern Hemisphere approaches winter. New York City led U.S. hotel sales in the last three months with transactions totaling $1.35 billion, despite a significant decrease in overall disclosed hotel transaction volume in 2023 compared to 2022. Several key hotel developments and acquisitions include KSL Capital Partners acquiring Hersha Hospitality Trust, the opening of the avid hotel Chattanooga South – Ringgold, and proposed sales like the Hyatt Place Pittsburgh Airport hotel. -
Asia-Pacific
Outbound Chinese Travel Preferences Shift to Singapore, Europe and South Korea
Chinese tourists are showing decreased interest in Japan and Thailand, partly due to Japan’s Fukushima wastewater release and negative perceptions from movies about Thailand. Consequently, Singapore, Europe, South Korea, Malaysia, and Australia have become more popular destinations. M Social opens its first hotel in Suzhou, China, and Indian Hotels Company plans to expand its Ginger brand across India. Other developments include the opening of the Ramada Encore by Wyndham in Amritsar, India, and new properties in Goa and Hong Kong under different brands. Sun Siyam Pasikudah in Sri Lanka reopens after renovations, and Berjaya Land Bhd secures a loan for developing the Four Seasons Resort in Okinawa, Japan.