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Asia-Pacific

Las Vegas Sands’ $3.3 Billion Singapore Expansion

Alan Woinski
October 23rd, 2023 at 6:24 AM EDT

Skift Take

  • Cushman & Wakefield reported significant growth in China’s hotel industry, with domestic tourism on the rise and strong performance in the hotel market.
  • Las Vegas Sands is embarking on a $3.3 billion expansion project in Singapore, while Wyndham Hotels & Resorts is expanding in Vietnam, including a massive complex on Bai Dai beach.
  • Fine Acers Hotels and Resorts Pvt Ltd is partnering with Wyndham Hotels & Resorts to open a luxury Wyndham Grand Hotel & Branded Residences in Amer, Jaipur, India.

Cushman & Wakefield released its Hotels – Checking Out boutique neighborhood hotels in mainland China report. The National Bureau of Statistics and China Tourism Academy reported that in the first half of the year, the total number of domestic tourists reached 2.384 billion. This was up 929 million year over year and represents annual growth of nearly 64%. 1.859 billion visits were undertaken by urban residents and 525 million were by rural residents. Looking at hotel market business performance, in the second quarter of 2023 the average room rate for mainland China’s all-star hotels already surpassed the market business performance for the pre-pandemic period, reaching RMB373.79 per night. RevPAR was RMB195.90 per night, surpassing 2019. The average occupancy rate in the second half of the year was 52.41%.

STR said the later Mid-Autumn Festival created a longer holiday period than last year, combining with National Day festivities to provide improvement in China’s hotel performance. Mainland China hotel occupancy over the eight day holiday period averaged 65.1% and peaked on October 2 at 83.1%. Most of the growth came from outside the Tier 1 markets (Beijing, Shanghai, Guangzhou and Shenzhen. Tier 1 market occupancy in aggregate peaked on October 1 at a softer 74.8%. The ‘New 1st Tier’ or Tier 1.5 markets, saw the highest occupancy levels on October 2 at 85.6% with the busiest markets of Suzhou at 94.1%, Chongqing at 92.9% and Chengdu at 91.7%. Average daily rate drove hotel performance with a peak of CNY1,073.13 on October 2. RevPAR on that day was CNY682.52. When compared to 2019, RevPAR for the week surpassed the pre-pandemic comp by 12.3%. STR said that with this being the last public holiday of the year, all eyes now look to conferences and corporate travel to continue driving industry recovery in 2023.

Between 2023 and 2028, the Philippine Hotel Owners Association is embarking on the construction of 48 new hotel projects, creating a collective total of 15,000 rooms, in addition to their existing portfolio of 40,000 keys. The PHOA ha a membership of 65 companies, collectively owning 200 hotels comprising around 40,000 rooms. Of the 48 upcoming hotels to be constructed by 2028, contributors include 14 properties from the Ascott Limited Group, three from AyalaLand Hotels and Resorts Corp., five from the Hotel 101 Group, seven from Megaworld Corp, one from Newport World Resorts, 11 from Filinvest Hospitality Corp., three from Accor Group and nine from SM Hotels and Conventions Corp-Radisson Hotel Group. The Department of Tourism’s goal is for 11.5 million international tourists by 2028. This year they expect 4.8 million. The DOT projects a surge in domestic travel, with domestic trips expected to reach 137.5 million by 2028, up from the 85.1 million recorded this year.

Club Med announced the grand opening of the world’s first urban oasis resort, Club Med Urban Oasis Xianlin Nanjing Resort on October 18th. The property is located only 30 minutes from downtown Nanjing and Nanjing South Railway Station. It is also just 500 meters from the Huitong Road Station of Nanjing Metro Line 4, making it the world’s first metro-access Club Med resort. The new resort is located among Nanjing’s four major scenic areas – Purple Mountain, Qixia Mountain, Tangshan Mountain and Yanziji. The resort features a 1,200 square meter indoor heated water park, outdoor water screen light show, an outdoor explore park, sports activities and the U Bar.

Las Vegas Sands said the work for the Marina Bay Sands in Singapore’s new tower expansion should be situated in six months to one year, depending on approvals. Las Vegas Sands is preparing a new $3.3 billion expansion project to its Singapore IR including a new hotel tower with 1,000 rooms and suites, MICE facilities, a 15,000 seat arena and a rooftop swimming pool. They will also be revamping its Tower 3 hotel space by 2025 at a cost of $750 million. The tower has 550 rooms and will be part of Phase 2 of an ongoing room renovation for the property as a whole. The Phase 2 renovations include the lobby and VIP arrival areas and amenities at the SkyPark Observation Deck atop the building. The revamp overall will see enhancements to gaming offerings, additional dining options and other entertainment and retail offerings. As of September 30th, Las Vegas Sands has introduced 1,200 redesigned rooms, of which about 300 are new suites. The remaining renovation work of Tower 1 and Tower 2 is due to be completed by the end of this year.

Carpenter, a heritage boutique hotel, is expected to open its doors later this quarter in Singapore, nestled between Clarke Quay and Chinatown. The property is being developed by conservation specialist 8M Real Estate. The hotel is a member of Marriott Bonvoy’s Design Hotels. The 48 room hotel breathes new life into the former Remittance House, Chya Hua Seng Wee Kee, dating back to 1936. 21 Carpenter comprises two distinct wings: The Heritage Wing featuring 26 rooms in the conserved building and The Urban Wing, a contemporary five story extension with an additional 22 rooms. The rooms range from 30 to 56 square meters. The property also includes a rooftop infinity pool and lounge along with a garden terrace on the third level. The hotel will feature an independent neo-bistro and bar.

Wyndham Hotels & Resorts opened the Wyndham Grand Phu Quoc and Wyndham Garden Grandworld Phu Quoc on October 19th, furthering its expansion into Vietnam. The two Wyndham-run hotels are located on Bai Dai beach near tourism attractions such as the Grand World Phu Quoc entertainment complex, Vinpearl Safari Phu Quoc and Vinwonders Amusement Park. The Wyndham Grand Phu Quoc complex consists of 1,378 rooms, 21 villas (slated to open by the end of the year), seven restaurants and bars, event venues and a wide range of entertainment facilities such as the Corona Casino, spa, shopping street, indoor cinema and others. It is the largest Wyndham Grand project in the world. The Wyndham Garden Grandworld Phu Quoc hotel is close to it and has 921 rooms from standard rooms to studio suites and is the largest Wyndham Garden property in the world. It has restaurants, bars, a 952 square meter swimming pool and other relaxation facilities. The projects are operated under a partnership with Phu Quoc Tourism Development and Investment JCS in the case of Wyndham Grand and Newvision Land Co. Ltd. in the case of Wyndham Garden. Wyndham has tripled their growth in Vietnam since 2019, increasing the number of hotels from four to 17 with more than 20 other hotels in their executive pipeline.

Fine Acers Hotels and Resorts Pvt Ltd announced a significant partnership with Wyndham Hotels & Resorts to unveil a world-class Wyndham Grand Hotel & Branded Residences in Amer, Jaipur in India. The signing of the franchise agreement underscores Fine Acers commitment to elevate the hospitality experience in prime tourist destinations, following ventures in locations like Udaipur, Pushkar, Jawai, Ranthambhore, Jaipur and UAE. The Wyndham Grand Jaipur Amer is expected to open its doors in 2027. The 9.5 acre property will house approximately 312 luxury guest rooms, complete with private pool villas and shaded pools to provide an oasis of relaxation. In addition to the luxurious accommodations, the resort will have large banqueting spaces, diverse dining options, fitness center and a spa. Construction is set to begin in mid-2024.

The family office of Gland Pharma’s former promoter has acquired GBJ Hotels, which operates the five star property Hotel Radisson Blu in Coimbatore. KP Advisory Services, the family office of promoter Ravi Penmetsa, acquired the five star Indian property last week under the corporate insolvency process. Lenders voted for KP Advisory Services’ INR 185-crore plan as that was a recovery of 94% for creditors. Radisson Blu Coimbatore has 135 rooms.

Personnel Move

Atul Bhalla has been promoted to the office of Vice President Operations for ITC Hotels North & West region. Bhalla has completed nearly three decades in various senior management roles with ITC Hotels.

Alan Woinski
October 23rd, 2023 at 6:24 AM EDT

Companies: Accor, Ayala Land, Club Med, DoubleDragon Corp., Fine Acers Hotels and Resorts, Hotel 101, ITC Hotels, Las Vegas Sands, Megaworld, Newport World Resorts, Radisson Blu, Radisson Hotel Group, The Ascott Limited, Wyndham Garden, Wyndham Grand, Wyndham Hotels & Resorts

Locations: Beijing, China, Guangzhou, Jaipur, Nanjing, Philippines, Pho Quoc, Shenzhen, Singapore

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