Cambodia Is Recovering, But Still Struggling

STR reported China hotel RevPAR for the week ended August 20 was up 89.7% year over year, up against an easy -43.4%. When going against the week in 2019, China hotel RevPAR was down -21.5%. Absolute occupancy for the week was 64.6%, compared with only 38.1% in the year ago week.

Cambodia’s Ministry of Tourism said that while tourism is recovering, almost 50% of businesses in Cambodia’s main tourism hub of Siem Reap are still closed. As of July 31, 2022, of the total 739 hotels and accommodation services in Cambodia, only 520 are open, 190 have been suspended and 29 have been closed. Of the 2,529 restaurants, more than 2,000 are open and 363 locations continued to be suspended and closed. 46% of tourism businesses in Siem Reap, including hotels, guesthouses, and restaurants are still closed. The Tourism Ministry said there are currently about 5,000 international tourists visiting Cambodia with about 700 or 800 per day in Siem Reap. 

In India, mid-sized hotel brands have embarked on aggressive plans and are signing up hotels at a record pace, encouraged by a major turnaround in performance across the country in terms of occupancy and average daily rates. A large part of the current expansion is being driven by conversions as non-branded hotels are choosing to become part of established hotel chains. Noesis Capital & Advisors said in the past two quarters, they have concluded transactions for 28 hotels in the mid-segment space and in the coming quarters, they expect to do it for 30 more. Close to 70% of the transactions are conversions. ITC Hotel Group’s Fortune brand is signing up one new hotel every month for the next seven months, each with 75-80 rooms. This will be the highest number of hotels opening in a single year for the Fortune brand. Half of the expansion will take them to new leisure and business locations, through conversion. InterGlobe Hotels said the Ibis brand will be adding 350-400 rooms through new hotels, one each in Hebbal in Bengaluru and Thane in Mumbai. Ibis builds and manages the properties ground up. Lemon Tree Hotels will be adding nearly 374 keys by the end of this fiscal year across its brands in Dharamshala, Mussoorie, Gurugram, to name a few. Indian Hotel Company said their lean luxe brand Ginger has been leading the expansion and will continue to do so in the years to come. Out of the portfolio of 300 plus hotels IHCL plans to have by 2025-2026, Ginger will contribute 125 hotels. Indian Hotels said they are on track to achieve their targeted portfolio of a total of 300 hotels by 2025. They currently have 242 hotels including 61 under development.

Pan Pacific Hotels Group said PARKROYAL on Kitchener Road, Singapore, reopened its newly renovated transformation. The full-scale transformation includes an updated exterior, 542 spacious guestrooms and suites, integrating technology and sustainability for an elevated hospitality experience. The hotel refreshed its lobby and enhanced the hospitality lounge, a space for guests to rest from early arrivals or for late night departures and includes newly installed self-check in kiosk. The $21 million renovation includes its public areas, dining outlets, meeting rooms and guestrooms. The Spice Brasserie all day restaurant unveiled a new look, complete with an exciting dining concept, while the Si Chuan Dou Hua restaurant embraced a new look. The seven event spaces were revitalized while there is also a new Executive Lounge located on level six.

Pan Pacific Hotels also announced they will open two new hotels in Tokyo’s Shinjuku district next year. The two hotels are part of the ongoing Shinjuku Redevelopment Plan to spruce up the nightlife and shopping district with new skyscrapers, including offices, cinemas and mall being planned. The two hotels will be Bellustar Tokyo and Hotel Groove Shijuku, to be located in the new Tokyu Kabukicho Tower, a mixed-use project that will also house a cinema and four-story live concert venue. The building is set to open in April next year. Bellustar Tokyo, a Pan Pacific Hotel will occupy the 39-47 floor and have 97 keys, with the largest room being a penthouse with a personal spa treatment room. Hotel Groove Shinjuku will fall under the Parkroyal brand and will sit on floors 18-28 floors with 538 rooms. The hotel will have access to Tokyo Kabukicho Tower’s entertainment facilities like its live performance venue Zepp Shinjuku, Theater Milano-Za and 109 Cinemas Premium Shinjuku.

Accor announced the opening of the new ibis Styles Bangkok Silom. The hotel is located in the heart of Silom with guests seeing a mural from Thai artist Tikkywood at the entrance and then a photogenic lobby with surprising designs and groovy tunes. This is Accor’s twelfth ibis Styles hotel in Thailand. The property offers 264 rooms, across five different room configurations, including Standard Rooms, Premium Balcony Rooms and Family Suites. Executive Chef Apipong Detsupha (Chef Oak) is in charge of the restaurants and bars, including the bohemian-style poolside rooftop bar BOHO. Besides the rooftop pool, other amenities include a gym and meeting and event space.

Nobu Hospitality announced an agreement with Asset World Public Company Limited on a Thailand-wide development plan. As part of the development agreement, the two partners committed to an exclusive collaboration to develop multiple Nobu Hotels and restaurants in Thailand, along with the exploration of further development locations in the Kingdom. The location of the signed Nobu Hotel in Bangkok will soon be announced with a completely unique and distinct program and experience being planned by AWC and Nobu Hospitality.

Hyatt will open the first Andaz hotel in Thailand in 4Q 2022, the Andaz Pattaya. The hotel is owned by Narit Chia-Apar and his son Chintat Chia-Apar. The hotel is the transformation of their family estate, built on a 6.4 hectare plot of land at Tawanron Beach, between Jomtien and the fishing village of Bang Saray. The US$150 million project is aiming for a world-class internationally-branded luxury lifestyle resort in a beautiful beachfront setting, showcasing the authentic soul of the destination. The resort will have 204 rooms and villas, six restaurants and bars, three swimming pools, event spaces, a kids club and more. 

Hyatt Place Kuala Lumpur in Bujit Jalil was structurally completed today. The four-star hotel is being developed by Malton Bhd, owned by Mygres Ceramiche Sdn Bhd, constructed by Siab Holdings Corp and will be managed and operated by Hyatt Hotels. The hotel was launched in 2020 and is expected to open its doors in the middle of 2023. The first international branded hotel in Malton’s 50-acre Bukit Jail City integrated development topped off. It will feature a total of 250 hotel rooms and suites with built-ups ranging from 344 to 1,291 square feet. There will be a 4,004 square foot all-day dining restaurant with private dining rooms, a 1,905 square foot lobby lounge and bar, a 4,079 square foot rooftop bar and outdoor event space and a 4,520 square foot high-ceiling ballroom. There is also a rooftop pool and gym and yoga studio.

Hyatt announced the opening of Hyatt Place Nanchong Gaoping, expanding the Hyatt Place brand’s footprint globally. The new hotel is the first and currently-only international hotel in Nanchong, China, a joint venture led by Nanchong Yuxuan Hotel Management Co., Ltd., operated by Minyoun Hospitality. The hotel is located on floors 29-43 floors of the Chuanbei Financial Center, the tallest landmark in Nanchong City, by the Jialing River. The hotel has 276 guestrooms, Lobby Lounge, 24 hour food offerings and a gym. Event spaces offer about 2,000 square feet of flexible, high-tech meeting space.

Grand Hyatt Singapore will close its doors from September 19 as it commences the final phase of its two years long renovation. The closure will last four months with a reopening in the first quarter of 2023. The ongoing renovation was announced in 2021 as part of the hotel’s 50th-anniversary celebration. This refresh will center on the theme of wellness. The hotel will see a refresh in infrastructure and architectural design to areas such as guest rooms.