STR reported China hotel RevPAR for the week ended January 28 was up 177.8% year over year. When compared with the same week in 2019, China hotel RevPAR was up 66.6%. Helping the year over year and 2019 comparison results was the timing of Chinese New Year – January 22, 2023 versus February 1, 2021 and February 5, 2019.
STR said Southeast Asia sits at the lower end of recovery compared to other STR-defined subcontinents. They are above Northeastern Asia in terms of occupancy and average daily rate in 2022. OAG data suggests Southeast Asia was still missing 35% of flight seat capacity during the last week of January 2023 compared to the same week in 2019. Six months ago that was 50% but it shows the time it takes to get air infrastructure back in place. Southeast Asia finished 2022 with an occupancy level of 53.8%, 15.6 percentage points above 2021 but still -14.5 percentage points below 2019 levels. ADR performance was US$97.71, just -6% behind 2019 and up 58% year over year. Occupancy in December was 96% of 2019 levels with ADR up 12% from December 2019. Indonesia and Singapore led the way in terms of recovery of RevPAR. Singapore occupancy in 2022 was 70.7%, still down -14.4 percentage points from 2019 levels but ADR was only down -1.3% from 2019. Singapore has 10 hotels accounting for 3,272 rooms opening this year so occupancy and ADR levels will be watched closely. Vietnam remains one of the most depressed markets with occupancy for the year coming in at only 35.7%. There was hope for a major pickup towards the end of 2022 and over Lunar New Year. STR said Thailand sits at the lower end of the pack for RevPAR recovery due to weaker occupancy, -21.9 percentage points below the pre-pandemic comp. Results started bouncing back after ending travel related Covid restrictions on October 1, 2022. Performance in December was well up above December 2021 and just -3.7 percentage points below 2019.
Dusit Hotels and Resorts will add 14 hotels and resorts to their portfolio this year across China, Greece, India, Japan, Kenya, Nepal and Thailand. In Japan, Dusit is set to open two new hotels in Kyoto – ASAI Kyoto Shijo and Dusit Thani Kyoto in Q2 and Q3 respectively. ASAI Bangkok Sathorn is scheduled to open in Q2. Dusit’s global expansion will be driven by hotels opening under management agreements. Dusit Suites Athens will be their first entry into Europe, opening in Greece in this current quarter. In Nepal, Dusit will open Dusit Princess Kathmandu and Dusit Thani Himalayan Resort Dhulikhel in Q2. This year will also mark the return of Dusit Hotels and Resorts in India and Kenya with Dusit Princess Serviced Suites Kolkata and dusitD2 Fagu, Shimla in Q4 and Dusit Princess Residences Nairobi this quarter. On their home turf in Thailand, Dusit will also welcome its first dusitD2 branded property in Bangkok in Q2, Dusit Princess Patthalung in Q4 and add to its DusitD2 Khao Yai hotel with a safari-themed all-villa extension, ASILI Village in Q2. Dusit has more than 60 properties in their pipeline, expected to open within the next three to four years.
Lemon Tree Hotels announced the signing of Lemon Tree Hotel, Jabalpur, Madhya Pradesh in India. The property is expected to be operational by June 2024 and will be managed by the management arm of Lemon Tree, Carnation Hotels Private Limited. The property will feature 75 guestrooms, a restaurant, club, bar, banquet, gym and other public areas. The hotel is located 16kms from the Jabalpur Airport.
Bheemili, one of the most visited and upcoming tourist destinations near Visakhapatnam in India will soon have a seven star facility from Oberoi Group. Sources said the Andhra Pradesh Government has agreed to allot 40 acres of land for the construction of the luxurious Oberoi hotel and other facilities according to sources in Bheemili. The locality currently only has one star hotel. The new Oberoi will be 25km from the new upcoming Bhogapuram Airport. The same sources said Oberoi agreed to invest 350 crores to develop the property.
Atharva Hotel Superfluities India Private Limited, marketed as Atharva Hotels & Resorts, has embarked on an ambitious plan to put into operation more than 5,000 hotel rooms under their management. Their first step in that direction was the announced of their first hotel in association with IHG Hotels & Resorts under their Voco Hotels banner in Gurugram, India. The group said they already signed up management contracts for 5,215 rooms of which 2,585 rooms will be with Omaxe Builders. Under their agreement Atharva will operate 540 rooms in Lucknow, 984 rooms in Greater Noida and three properties in New Chandigarh totaling 1,061 rooms. The group will have 2,025 hotel rooms operational in Gurugram with more than 900 of them with M3M. The first opening will be the 204 room Voco hotel and a 130 unit studio apartment hotel, both in Gurugram, in the last quarter of 2023.
Megaworld, considered the Philippines largest developer and operator of homegrown hotel brands, is building its first property in Palawan. The 10 story Savoy Palawan will offer 306 guest rooms and suites in varied layouts. The fourth Savoy Hotel in their portfolio will be the first hotel in Palawan for Megaworld. It will be just a five minute walk to the beach in San Vicente, a few steps away from the township’s Mangrove Reserve Park. Amenities will include a swimming pool, a separate kiddie pool, and a pool deck at the third level of the hotel. It will also have its own fitness center, spa with wet and dry sauna and a kid’s club. There will also be four food and beverage outlets in the hotel, its own ballroom and smaller function rooms and an Executive Lounge for suite and VIP guests. Savoy Palawan will open in 2028 and will be the seventeenth hotel property launched by Megaworld Hotels and Resorts. Of that 12 are currently operational and five more are in the pipeline. The existing operational hotels have around 4,500 keys.
Roxaco Land Corporation, the property development arm of Roxas and Company, is launching new development projects this year as it embarks on an aggressive expansion program in its real estate and hospitality units. RCI told the Philippines Stock Exchange they will launch land development projects in the Tagaytay to Nasugbu corridor, in response to strong demand and accelerating property prices. Roxaco Land is leveraging on the recovery of local travel and tourism, boosting occupancy levels in all of its budget hotels located in Metro Manila. They are reporting bookings reaching pre-pandemic levels. The firm is implementing phased renovations of its hotels as well as targeted marketing programs to strengthen its customer proposition.
The ParkRoyal Langkawi Resort on Pantai Tengah in Malaysia is opening its doors on February 15. The 301 room beachfront resort will offer a collection of six types of rooms, eight types of suites, and seven spacious and exclusive villas with unique facilities and amenities.
IHG Hotels & Resorts announced the appointment of Patrick Finn as vice president, development for South East Asia and Korea. Finn will be based in Singapore and joint the South East Asia and Korea Leadership Team to spearhead strategic growth initiatives and oversee the expansion of the group’s brands in the region. Finn was most recently working for Hyatt Hotels out of Hong Kong, responsible for leading the company’s development function across Asia Pacific.