Malaysia and Hong Kong See Significant MoM Tourism Bumps
Skift Take
- Malaysia is on track to surpass its international tourist target with an expected 18 million visitors, while Hong Kong saw a significant MoM increase in July, driven largely by visitors from Mainland China.
- Key developments include the Marriott's expansion in China and India, the transformation of Sydney's former Department of Education building into a luxury hotel, and Damac International's progress on its Maldives resort.
- JLL India reported mixed hotel performance, Blackstone is reinvesting in Japanese real estate due to favorable market conditions, and Absolute Hotel Services has made key management appointments.
Malaysia is expected to surpass its international tourist arrival target for the year by achieving an arrival of at least 18 million visitors, exceeding the initial target of 16.1 million tourists. They now expect to get 18 million as they recorded 4.5 million tourist arrivals in the first quarter.
JLL’s Hotel Momentum India report showed that in 2Q 2023, RevPAR was up 15.4%, but occupancy was actually down slightly. Skift’s India report said they spoke with JLL India, and they attributed the declining occupancy level to harsh weather in the summer months, social events/weddings at an all-time low, and reduced corporate travel.
The Hong Kong Tourism Board reported a 31% month-on-month increase in July visitor numbers. The HKTB’s preliminary numbers suggest 3.6 million visitors in July, bringing the total in the first seven months of 2023 to approximately 16.5 million visitors, with an average daily count of 116,000
