Ascott to Double Over Five Years
Skift Take
- STR said China hotel RevPAR for the week ended April 15, was up 155.1% year over year.
- Marriott International announced it signed agreements with Vinpearl for an additional seven hotels and resorts in Vietnam, comprising more than 2,500 rooms.
- The Ascott Limited, a unit of CapitalLand Investment Limited, has achieved its target to secure 160,000 units by 2023 with the signing of over 4,000 units in 1Q this year.
STR said China hotel RevPAR for the week ended April 15, was up 155.1% year over year. When compared with the same week in 2019, RevPAR was down -3.8%. The year over year results were up against an easy comp of -50.6%.
Marriott International announced it signed agreements with Vinpearl for an additional seven hotels and resorts in Vietnam, comprising more than 2,500 rooms. The seven add to the eight hotels announced in 2022 when Marriott first entered into agreements with Vietnam’s largest hospitality and leisure chain. Vinpearl is expected to be Marriott’s largest owner in Vietnam with 15 hotels and resorts. Three of the seven newly signed hotels and resorts are conversions, expected to join the Marriott system later this year. They include the 829 room/suite/villa Nha Trang Marriott Resort & Spa, Hon Tre Island; 193 room/25 villa Renaissance Hoi An Resort & Spa; and two, three and four bedroom villas Danang Marriott Resort & Spa, Non
