South Korea’s government will remove its entry restrictions for short-term travelers from China. Associated Press said the South Korean officials believe the Covid situation in China is stabilizing. It will begin processing short-term visa applications again but will also maintain its testing requirements for now. All passengers from China, Hong Kong and Macau will need to continue submitting proof of negative tests taken within 48 hours of their arrival and test again once they are in South Korea.
Singapore property tycoon Koh Wee Meng, via his entity JK Global Wealth, made an offer of 12 cents a share for the rest of developer Global Dragon. Koh and related parties already control 81.98% of Global Dragon with Koh directly controlling 59.3%. The premium is 14.3% over the closing price the day before the offer was made and a 15.4% premium over the 1 month volume weighted average price. Of the projects Global Dragon has in the works is a 194-room hotel along Telok Blangah Road.
Listed Philippines property developer DoubleDragon Corp is partnering with Japan’s Iwata Chizaki Inc to build a hotel in Hokkaido under the Hotel101 brand. The Hotel101-Niseko, Hokkaido Japan project will have about 518 rooms. The agreement between DoubleDragon and Iwata Chizaki is among the 35 investment deals and commitments signed by the Philippines and Japan during the third day of President Ferdinand Marcos Jr. official visit.
Status in Asia Pacific at Q4 Close
|Starting in 12 mos.
Countries with the Largest Pipelines in Asia Pacific (Excluding China)
Cities with the Largest Pipelines in Asia Pacific (Excluding China)
|Seoul, South Korea
|Kuala Lumpur, Malaysia
Companies with the Largest Pipelines in Asia Pacific (Excluding China)
Brands with the Largest Pipelines in Asia Pacific (Excluding China)
|Holiday Inn Express
Hyatt Hotels announced a Hyatt affiliate entered into a management agreement with Tokyu Land Corporation for Hyatt House Tokyo Shibuya. The 126-room hotel is slated to open by mid-2024, situated steps away from the Shibuya Scramble Crossing. Hyatt House Tokyo Shibuya will mark the entry of the Hyatt House brand in Tokyo. The Sakuragaoka area, just southwest of the Shibuya station where the hotel will be located, is being redeveloped as part of a transformation of the Shibuya district. The hotel’s guestrooms will range in size from 344 to 915 square feet and offer a kitchen, washer and dryer, and a living room. The lobby will face an airy rooftop garden and the property will feature an indoor swimming pool, lounge, H Bar, and restaurant. The property will also have a communal space, Fitness Room and other facilities. This will be the second Hyatt House-branded property in Japan.
Japanese hotel chain Hotel Management International Company Limited plans to develop 30 new hotels in Uttar Pradesh, India. On the second day of the Global Investors Summit in Lucknow, the Japanese company signed a memorandum of understanding of Rs 7,200 crore with the government of Uttar Pradesh. HMI Group operates more than 60 hotels in major cities of Japan and is planning to expand its hotel chain in 30 major cities, including Agra, Varanasi and Ayodhya.
Indian Hotels Company announced the signing of its fourth hotel in Jamshedpur, Jharkhand. This is a conversion and will be rebranded Vivanta after extensive renovations. The hotel will be operational in 2024. With this hotel, IHCL will now have two of its brands in the city, four hotels across Vivanta and Ginger brands there. They will partner with Vijaya Homes Group on the 94 key hotel, located in the center of Jamshedpur. The hotel will include an all-day diner, specialty and roof-top restaurants, bar, swimming pool, a fitness center and over 1,000 square meters of banqueting space spread over three halls.
Espire Hospitality Group announced the signing of a new hotel in the queen of hills, Mussoorie in India. The company has entered into an agreement with Nagalia Hotels Private Limited to open Country Inn Premier, Mussoori, overlooking the pristine snow-peaked mountains and the forest. The hotel will be launched in April 2023 and will feature 48 rooms, a multi-cuisine all-day dining restaurant, a gaming zone and toddler’s play area, a spa, two banquet halls, and an open-air celebration lawn. This will be a new upscale brand for Espire, following its recent entry into the luxury boutique segment with ZANA – Luxury Escapes and select-service segments with Country Inn Express.
The Macau Government Tourism Office said daily visitor numbers to Macau has remained above 50,000 even after the Chinese New Year holidays. They noted a number of group tours gradually increasing and international flights are gradually being restored, mainly to Southeast Asia. At the same time they noted up to 3,000 hotel rooms currently out of use due to a labor shortage in the city. Housekeeping is a big issue with operators unable to fill quotas. Much of the shortage is due to over 40,000 non-resident workers leaving during the pandemic after their visas were canceled.
In Singapore, the planned extension/expansion of Las Vegas Sands’ Marina Bay Sands is expected to be delayed again, with no confirmation on when construction will commence. The Straits Times took this from Las Vegas Sands’ end-of-year financial report. They are obligated to commence work on the extension by April 2023 under the Second Development Agreement with the Singapore Government but said they do not expect to be able to begin construction by the given timeline. They are in discussions with the Singapore Government on an extension of the deadline and we expect, given their solid relationship, they will be granted this extension. Outside of this extension, Las Vegas Sands is renovating its two existing hotel towers to include fresh suite options with a budget of S$1 billion, with completion set for this year.