Vietnam Hits a New Post-Pandemic Tourism High

Sri Lanka Tourism outlined key strategies to double the arrivals to 1.5 million and generate an income of over $5 billion highlighting the sector as a major economic driver. Their arrivals target for 2024 is 3 million. For this year they believe they are on track for 800,000 arrivals. To get to their income figure, officials believe they can attract higher-end visitors that will spend double the current $200 per traveler. They are banking on visitors from their traditional markets such as the UK, Germany, France, and Eastern European markets like Russia this winter. January to March reservations are said to be looking very promising with the block-bookings on airlines as well. Sri Lanka Tourism plans to explore new markets such as Japan, Korea, Georgia, Australia, New Zealand and Eastern Europe countries and plans are underway to attract the many US tourists coming from India to Sri Lanka.

The number of international tourists arriving in Vietnam reached 596,900 in November, the highest monthly total since the start of the Covid-19 pandemic and 23% more than October, according to figures from the Vietnam National Administration of Tourism. That brings the 11 months total in 2022 to 2.95 million, up from 157,000 through all of 2021. That is still 81.9% below the first 11 months of 2019. Even with not even 20% of 2019 visitation, tourism revenue of VND456.7 trillion is 70% of 2019 levels, suggesting a higher quality of visitor. South Koreans are Vietnam’s main source of tourists with 763,900 arrivals followed by the US at 266,000. 

Marriott International announced the opening of Le Meridien Seoul Myeongdong and Moxy Seoul Myeongdong, showing how they continue to expand their lifestyle offering in Seoul, South Korea. The dual-branded hotels are located in the heart of Seoul, within a 15 story mixed use complex in Myeongdong, known for its fashionable street culture, shopping, dining and bright neon signs. The Le Meridien property includes 200 timeless chic guest rooms and suites. The hotel includes an all-day restaurant, La Palette Paris, Le Moulin deli and Lumiere Lobby Lounge & Bar. Club Lounge is located on the top floor of the hotel while there is also a rooftop indoor swimming pool and fitness center and 230 square meter Mid-Century Room for social and business events. The fifth to ninth floors is where the Moxy Seoul, Myeongdong is located, offering 205 bedrooms including Single Loft and Quad Bunk Rooms and a Moxy Suite. The new hotel features a 24-hour ironing room, a signature Moxy amenity and the Bar Moxy which also includes an all-day dining menu.

Marriott’s Fairfield by Marriott brand announced the opening of Fairfield by Marriott Bali, South Kuta, their fifth property under the Fairfield brand in Indonesia. The hotel is located less than 10 minutes from Ngurah Rai International Airport and features 71 rooms, the Dery’s Restaurant & Bar which doubles as an all-day restaurant and sports bar at night. The pool area features Cabana Rooftop Pool & Bar.

IHG Hotels & Resorts announced it signed with Shanghai Seagull Holding Group Co., Ltd to jointly open a luxury hotel – Regent Shanghai on the Bund. The hotel is scheduled to open in 2023 after renovations are completed and will become the second Regent in Shanghai. The hotel will have more than 130 rooms, close to the number of the original Shanghai International Seamen’s Club/Seagull Hotel. For IHG this is more expansion in China. As of the third quarter of 2022, IHG has 618 opened hotels with a further 474 hotels in the pipeline, to give them more than 1,000 hotels in more than 200 cities.

IHG also announced the launch of its luxury boutique hotel brand, Kimpton Hotels & Restaurants in mainland China. The Kimpton Bamboo Grove Suzhou includes the FIT gym, a heated indoor swimming pool connected with an atrium, restaurants and bars, 1,074 square meters of event spaces and more in the pet-friendly hotel.

Wyndham Hotels & Asia Pacific announced the signing of a multi-property license development agreement with Indonesian hotel developer Sun Motor Group. The multi-development signing was launched with the first two of multiple license agreements planned to be signed over the next five years, starting off with the Super 8 Singosaren Solo, which will introduce the Super 8 brand to the Indonesian market, and Ramada by Wyndham Sleman Yogyakarta, which expands the brand’s presence in Indonesia. The 50-room Super 8 will be the second hotel by Sun Motor and Wyndham Hotels and Resorts to be opened in Solo. The Ramada will open by 2024 as the first hotel development project committed by Wyndham in Yogyakarta.

Century Properties Group said it would open the 152-room Novotel Suites Manila in Mandaluyong City this month, its first hospitality venture. The hotel is expected to open on December 15 with the opening timed with the easing of movement restrictions and the Philippines government’s continued push for tourism. Novotel Suites Manila will be the sixth and final tower of Acqua Private Residences. The tower’s upper floors are allocated for residential condominium units, which have been sold out. The mid-scale hotel will be wholly-operated by CPG. Hotel room sizes range from 32 to 87 square meters. Guests will be treated to amenities including a pool, restaurant and bar, lounge café, pastry shop and a fitness center when the hotel opens. Meeting rooms will also be available.

Manuel Villar Jr and his Vista Land and Lifescapes Inc. company will launch a casino and entertainment complex in the city of Las Pinas, in the Philippines capital of Manila. Villar said he would convert the Global South Vista mall into a casino and entertainment complex that will have a total floor area of 18,000 square meters. The project will include hotels, condominiums, a mall, casino, and theme park. The project will be handled by Prime Asset Ventures Inc. through its wholly owned subsidiaries Vertex Entertainment and Resort Corp. Prime Asset is another company from Villar. He said the complex will be like the developments of Disney or Marina Bay Sands in Singapore. Villar expects to complete the project in a year and will soon announce a foreign partner in the venture. Investment in the project will total US$1 billion.

OYO, ahead of another attempt at an IPO, said they are laying off about 600 of its 3,700 employees as they discontinue several products and reorganize their teams. OYO is expanding its partner relationship management and business development teams while decreasing the size of its product and engineering teams, corporate headquarters and OYO vacation homes teams. While laying off 600, they will also be hiring 250 new employees with the new hires said to be the ones that will aid in expanding the number of lodging establishments and residences available on the platform.

Personnel Move

H World Group Limited announced Ms. Hui Chen will step down as chief financial officer of the company, effective immediately. Ms. Jihong He, the company’s chief executive offer for international business, has been appointed as CFO, effective immediately.