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Asia-Pacific
Asia’s Hotel Market Expands with Key Partnerships
STR reported strong hotel performance in China, with an 88.7% year-over-year increase in RevPAR for the week ending October 28th. The region is showing signs of rapid post-pandemic recovery, reaching occupancy levels similar to Europe and America. Macau recorded over 22.72 million visitor arrivals, with a recent increase in daily arrivals, and the first 10 months of the year reaching 68% of 2019 levels. Various hotel-related developments and partnerships were announced by brands like IHG, Accor, and CapitaLand Ascott Trust across Asia, including new property openings, divestments, and expansions, highlighting continued growth in the region’s hospitality industry. -
Asia-Pacific
Hard Rock in Malaysia Set to Be Asia’s Largest
Efforts to attract Chinese tourists to Southeast Asia are falling short, with drops in arrivals to Thailand, Cambodia, and Vietnam; Thailand’s visa exemption offers a temporary boost. Numerous hotel developments across Asia include expansions by Amora Group, partnerships in Malaysia and Indonesia, and potential property transformations in Singapore and Australia. DigiPlus Interactive Corp. aims to resurrect a $500 million casino resort on Boracay Island, hoping for favorable response from the Marcos administration. -
Asia-Pacific
China’s Golden Week Hotel RevPAR up 53% Over 2019 Numbers
Hotel RevPAR in China surged by 77.2% year over year due to Golden Week, with a 53.2% increase compared to 2019. Japan’s hotel industry saw an elevated average daily rate in July but struggled with occupancy recovery. Melbourne’s hotel industry reported a decline in RevPAR in September despite increased occupancy, and October occupancy is on par with the previous year. -
Asia-Pacific
Vietnam’s Visitation Rate Is 69% of Pre-Covid Levels
In Vietnam, foreign tourist arrivals for the first nine months of 2023 increased significantly by 4.7 times compared to the previous year, with a 13.4% decrease in September from August. Cambodia witnessed a 251% year-on-year increase in foreign visitors for the first eight months of the year, targeting 4.5 to 5 million arrivals in total for the year. Macau’s visitor arrivals during Golden Week exceeded 150,000 on the third day, with plans for Galaxy Macau Phase 4 to open in 2026 with fewer hotel rooms than initially planned. -
Asia-Pacific
IHG to Debut an InterContinental in Chiang Mai
China’s travel and tourism sector is projected to grow by 150% to $1.48 trillion by the end of 2023 and contribute over $4 trillion to the economy by 2033, with significant job growth. Asset World Public Company Limited partners with IHG to launch the InterContinental Chiang Mai The Mae Ping, part of a larger mixed development project in Thailand. NH Hotel brand plans to build a 12-story hotel near Sydney Airport, while Fusion Hotel Group opens HIIVE by Fusion Binh Duong in Vietnam, emphasizing “Workation” tourism. -
Asia-Pacific
FIFA Women’s World Cup Boosted Sydney Hotels
Hotel prices are surging during the upcoming Golden Week in popular cities, driven by the extended Golden Week, which includes the Mid-Autumn Festival and National Day Holiday. Sydney, Australia, experienced record-high performance levels in August 2023 due to the FIFA Women’s World Cup, with increased occupancy and average daily rates. Accor is expanding its presence in Japan by adding 23 properties and over 6,000 rooms to its network, with renovations and rebranding set to take place, doubling its presence in the country. -
Asia-Pacific
Marriott Expands Into Indonesia’s New Capital
China’s hotel industry saw a significant year-over-year increase in RevPAR, up 58.1% compared to a decline in the previous year. Hong Kong’s tourism sector experienced a gradual recovery, with August visitor arrivals reaching 84% of pre-pandemic levels. Wharf Hotels introduced Maqo, a new premium lifestyle brand, expanding its portfolio and aligning with its “25 by 2025” growth vision. Maqo’s inaugural hotel will be in Changsha, China, and it aims to provide unique, edited experiences for its guests. -
Asia-Pacific
Accor Is Full Speed Ahead on China
Singapore’s August visitation decreased by -7.8% compared to July, with 1.31 million visitors. Total eight-month arrivals remain nearly -30% lower than 2019. Accor SA aims to sign approximately 125 hotel partnership projects in China this year, with plans to introduce the Orient Express brand. Hilton plans to expand its Hilton Garden Inn brand throughout the Asia Pacific region, with a new regional room prototype introduced in Australia and New Zealand. -
Asia-Pacific
Thai Hotels Association Warns Regulations Will Hurt Tourism
The Thai Hotels Association (THA) expresses concerns about new regulations that exclude accommodations with up to eight rooms and 30 guests from the hotel business, anticipating a 15% to 20% loss in tourism revenue and increased safety risks. The THA believes these regulations have more disadvantages than benefits, while the Tourism Council of Thailand supports them. Speculation grows regarding the legalization of casino gambling in Thailand within three years, attracting international and regional operators. The text emphasizes the importance of the government’s approach to legalization, as it could affect investor interest, citing examples from other countries like Vietnam, South Korea, and Japan. New World Hotels & Resorts, an upper-upscale hotel brand under Rosewood Hotel Group, is actively expanding in Asia. They plan to have 18 operating hotels by the end of the year, with two more opening in 2024. The brand is entering various markets, including Mainland China, Vietnam, and Japan. -
Asia-Pacific
Australia Sees Corporate Hotel Demand StrengtheningĀ
CoStar and STR analysis reveal Australia’s hotel market normalization as leisure demand plateaus and corporate business strengthens. Occupancy and ADR figures show progress compared to last year but remain slightly below 2019 levels. Choice Hotels APAC reports positive Q2 results in Australia and New Zealand, adding new deals and Ascend Hotel Collection locations. Hotel Indigo Tokyo Shibuya opens, featuring music-themed rooms; DoubleDragon Corp starts construction on its first overseas hotel in Hokkaido, Japan. Macau experiences impressive hotel occupancy rebound in July; IOI Properties partners with Marriott for a new hotel in Singapore’s Marina View property; juSTa Rudra Resort & Spa to open in India; The Greenwood Hotels and Resorts Group invests in Northeast India expansion; The Roxy Impiana Hotel prepares for opening in Kuching, Malaysia.