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Oyo Reported to Get More Financial Backing

Alan Woinski
October 9th, 2023 at 9:06 AM EDT

Skift Take

  • Macau’s Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists.
  • Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations.
  • Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia.

China wrapped up its Golden Week holiday with Macau’s sensational week being tempered somewhat due to a Typhoon heading towards them. We went from an average of 128,000 visitors a day on day 6 to ending the 8-day holiday with over 932,000 visitor arrivals, an average of close to 117,000 a day. Executives have mentioned 90%+ hotel occupancy rates during the week. The Macao Government Tourism Office pegged the number for the week at 87.9% with an average room rate of MOP1,804.1 (US$225). Mainland Chinese visitors accounted for about 80% of the visitation. In Hong Kong, about 1 million visitors arrived from September 29 to October 4, with immigration data showing 1.4 million residents left to visit other places.

Indonesia’s Minister of Tourism and Creative Economy, Sandiaga Uno, announced a major expansion plan focused on expanding tourism outside of Bali, aiming to add five new hotels within the next two to three years. Uno revealed there are 25 companies from various countries exploring investment opportunities in Indonesia’s tourism sector, primarily focusing on two Super Priority Destinations, Likupang and Mandalika, and eight Special Economic Zones dedicated to tourism. Uno also set an ambitious target of attracting up to $8 billion in investments for five Super Priority Destinations: Borobudur, Likupang, Labuan Bajo, Mandalika, and Lake Toba.

Accor announced five new properties in Vietnam, Singapore, the Philippines, and India, targeting diverse travel needs from economy to premium segments in August and September. The openings include the Pullman Singapore Hill Street (Singapore), Novotel Living Saigon South (Vietnam), ibis Styles Goa Vagator (India), Grand Mercure Agra (India) and the Movenpick Mactan Cebu (Philippines).

Hilton, in partnership with Vista Hospitality Group, announced the signing of the first Curio Collection by Hilton property in Melbourne, AustraliaNext Hotel Melbourne will join the global portfolio of 140 Curio Collection by Hilton properties around the world by the end of 2023.Next Hotel Melbourne is the flagship property for Vista Hospitality Group. The hotel has 255 premium upper upscale rooms and suites, located within Melbourne CBD’s 80 Collins precinct. The property includes various food and beverage options including La Madonna restaurant and lounge with the restaurant achieving Chef’s Hat accolades. The addition of this property to Curio Collection by Hilton marks the third Hilton brand to enter the Melbourne market and the second Curio Collection by Hilton property in Australia. Vista Hospitality Group is a joint venture between Pro-invest Group and Next Story Group. Pro-invest is the managing partner of a seven-brand portfolio across 15 properties, including the Next luxury brand and its flagship Melbourne hotel.

Hilton announced the opening of Hilton Yala Resort, the third flagship-branded property in Sri Lanka for Hilton. The hotel has 42 rooms, suites and villas located just outside Sri Lanka’s Yala National Park. Ground floor rooms feature private pools which span from eight to 16 square meters, while those on the level above offer private hot tubs. The resort offers an elevated and environmentally responsible safari experience, three exceptional restaurants, outdoor pool, gym and spa.

The Sheraton Kuching Hotel, located in the Malaysian city’s ‘Golden Triangle’ is now operational following its soft opening this weekend. The construction of the hotel wrapped up recently. The property has 22 floors and 378 rooms, with only a few floors and facilities available to guests initially until the grand opening takes place, scheduled after Chinese New Year 2024. Sheraton Kuching is a five-star hotel. The hotel amenities include a pillarless Grand Ballroom which features a built-in lighting system, LED screen and space for 700 guests.

The LHOTEL Trust recently announced the offering of addition trust units at a maximum price of 10.20 baht per unit. This opportunity is open to existing trust unit holders with the subscription period from October 16 to October 20. The general public can then subscribe to the units from October 24 to October 27. The proceeds from the offering will be utilized to further invest in two properties, namely the Grand Center Point Space Hotel Pattaya and Grand Center Point Hotel Pattaya in Thailand. LHOTEL’s additional investment plan offers investors an opportunity to invest in two new assets.

We are not sure what this means for OYO’s planned and very long-delayed IPO but global private equity firms General Atlantic and Norwest Venture Partners are in talks to pick a secondary stake in Oravel Stays Pvt Ltd, the parent of OYO. Sources said some early investors are being approached to offer up their stakes as the incoming investors are seeking a larger secondary position. While OYO says it is now profitable, they continue to wait for Sebi to give them an indication they will approve their registration for an IPO. OYO is looking to raise between $400 million to $600 million in the IPO, half of its initial plan to raise $1.2 billion via the public markets.

Godrej Properties announced the opening of Taj The Trees at their flagship project, The Trees in Vikhroli, Mumbai. The hotel is owned by Godrej Properties and will be managed by Indian Hotels as a luxury Taj hotel. Taj The Trees has 151 rooms, restaurants, a rooftop bar, an infinity pool across the length of the building, conference facilities and a signature spa.

Trunk (Hotel) Sapporo will be the Trunk Hotel brand’s fifth hotel. The property will be located in the Odori district at the center of Sapporo, Japan and is expected to open during the Spring 2027 season. The hotel will feature a café and bar in its atrium a healing spa, multi-purpose space, theater room, a restaurant and more.

The Nikko Kanaya Hotel, which began as Japan’s first Western-style resort hotel, opened its doors in 1873. 150 years later the hotel’s Annex Royal House has undergone a new renovation. The fully renovated Annex ROYAL HOUSE has reopened with 2 Suite Rooms, 1 Corner Twin Room and 19 Deluxe Rooms, a total of 22 rooms.

VCI Global Limited has entered into a letter of intent to acquire the leasing rights of Impiana Private Villas Cemagi, Bali and Impiana Private Villas Kata Noi, Phuket from Impiana Sdn Bhd, through its subsidiary, V Capital Real Estate Sdn Bhd. Impiana Private Villas Cemagi comprises six villas covering over 604 square meters. Impiana Private Villas Kata Noi has 11 villas, covering 1,105 square meters.

Alan Woinski
October 9th, 2023 at 9:06 AM EDT

Companies: Accor, Curio Collection by Hilton, Grand Mercure Hotels and Resorts, Hilton, Hilton Hotels & Resorts, ibis Styles, Marriott International, Movenpick, Novotel, Pullman, Sheraton Hotels & Resorts, Taj, The Indian Hotels Company Ltd

Locations: India, Indonesia, Japan, Likupang, Macau, Malaysia, Mandalika, Melbourne, Mumbai, Philippines, Phuket, Sapporo, Singapore, Sri Lanka, Thailand, Vietnam

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