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China YoY RevPAR Growth up 103% but Still Short of 2019

Alan Woinski
October 26th, 2023 at 6:59 AM EDT

Skift Take

  • China experiences a significant year-over-year increase in hotel **RevPAR**, while **India** anticipates robust growth in the hotel industry, driven by domestic and international tourism.
  • Sri Lanka aims to revive its economy by offering free tourist visas to visitors from seven countries, as it targets five million foreign arrivals by 2026.
  • Major hotel chains like Marriott, Hilton, and Red Planet are expanding their presence in Asia, while Sarovar Hotels opens an upscale Golden Tulip in Bhopal, India.

STR reported China hotel data for the week ended October 21st. China hotel RevPAR was up 102.9% for the week year over year, up against an easy decline of -35.8% in RevPAR for the week in 2022. When compared to the same week in 2019, China hotel RevPAR was down -2.8%.

Rating agency ICRA issued a report on the Indian hotel industry. They expect the industry to achieve double digit revenue growth in FY2024. The positive outlook is underpinned by sustained domestic leisure and business travel, along with a rise in foreign tourist arrivals. The industry has seen a boost from significant events in 2023 such as the G20 summit and the ongoing ICC World Cup in 2023. ICRA is projecting hotel occupancy across India to reach 70-72 percent in FY2024, following the recovery to 68-70 percent on FY2023. Average room rates for premium hotels across India are anticipated to be in the range of Rs 6,000-6,200 in FY2024. ICRA expected the demand to be driven by enhanced infrastructure and air connectivity, a positive demographic profile, and the expected growth of large-scale MICE events. The growth is further supported by the opening of multiple new convention centers in recent years. Specific demand for hotels will vary based on location, competition, and other property-specific factors.

Sri Lanka’s cabinet is the latest to approve free tourist visas to visitors from seven countries in a bid to boost tourism and help revive the country’s economy. Reuters said tourists from China, India, Russia, Japan, Thailand, Indonesia, and Malaysia will be able to be issued free visas until March 31, 2024 as part of a pilot program. The country defaulted on a US$51 billion foreign debt last year and has been seeking assistance from the International Monetary Fund amid major food, fuel, and goods shortages. They are hoping a revived tourism industry can dig them out of the hole they are in. Sri Lanka has an ambitious goal of five million foreign visitor arrivals by 2026. They are on track for 1.5 million arrivals this year with India and Russia its two largest source markets. Sri Lanka earned US$1.3 billion from tourism in the first eight months of this year.

Marriott International CEO Anthony Capuano met with Vietnam Prime Minister Minh Chinh to discuss the hotel operator’s expansion plans in the country. Marriott currently is managing 16 hotels and resorts under 8 global brands there. They plan to expand their business activities in Vietnam, aiming to open 20 more hotels and resorts in places like Hanoi, Ho Chi Minh City, Da Nang, and Phu Quoc Island in Kien Giang Province.

Hilton announced the expansion of its franchise model in Greater China into the upscale full-service segment, with the including of its DoubleTree by Hilton brand. Hilton announced 19 new franchise projects across its Hilton Garden Inn and DoubleTree by Hilton brands, including signings and intentions to sign, spanning key cities and emerging destinations such as Beijing, Shanghai, Haikou, Nanchang, and Zhangzhou. Franchising represents more than 90% of Hilton’s portfolio in the Americas and has driven much of its global expansion. In Asia Pacific, Hilton launched its Hilton Garden Inn franchise model in Greater China in 2021 and is now focused on expanding it in Thailand and Australia. To date there are 76 Hilton Garden Inn hotels in operation in the region and over 130 in the pipeline. The DoubleTree by Hilton brand has 93 hotels in operation across the region, recently debuting in Seoul, Kyoto, and Varanasi. Hilton expects expansion now they added the brand to their franchise proposition.

Hilton also announced the opening of Hilton Yokohama, located in Minato Mirai 21, a waterfront residential, commercial and entertainment destination in central YokohamaJapan’s second largest city after Tokyo. The Minato Mirai 21 precinct is adjacent to Music Terrace, the world’s largest purpose-built music venue in the world. Hilton is partnering with Ken Corporation to bring their first Hilton hotel to Yokohama as they mark their 60th anniversary in Japan since they introduced Hilton Tokyo in 1963. Located just 20 kilometers from Haneda airport, Hilton Yokohama has 339 guest rooms including suite and executive rooms that can enjoy access to the hotel’s executive lounge. The hotel features three dining options as well as four banquet halls and meeting rooms.

Red Planet Philippines has secured the rights of their property in Bonifacio Global City – Taguig, Red Planet BGC The Fort. The acquisition of the partner company, Red Planet Hotels Manila Corp., came into full circle through the recent ownership of Red Planet Hotels by the Polaris Holdings Co., a JPX-listed company based in Tokyo Japan. The hotel has 245 rooms, the most rooms ever for a Red Planet Hotel. The hotel is in the final stages of development and is slated to open in the coming months right in the heart of Bonifacio Global City’s Uptown District. Red Planet Hotels has 10 hotels in Metro Manila, 4 in selected destinations in the Philippines, and 5 in Thailand. The total 19 hotels include 3,266 rooms.

Sarovar Hotels and Resorts announced the opening of its latest venture, the new upscale hotel Golden Tulip in Bhopal. This is the 11th Golden Tulip Hotel in the Indian subcontinent. Located in the southern part of the city, the hotel is 15 kilometers from Raja Bhoj Airport. The 62 room Golden Tulip offers rooms and suites under multiple categories including Superior, Deluxe, and Executive.

Personnel Moves

Generator, a lifestyle hybrid accommodation brand, has appointed Anmol Bhojwani as their Head of Development, Asia Pacific and the Middle East. Prior to his role at Generator, Bhojwani spent over three years leading and implementing development strategies as Vice President of Development, Asia Pacific and the Middle East at Standard International LLC.

SH Hotels & Resorts announced the appointment of Damon Page as Area Managing Director for its Asia Pacific region. SH did not say where Page recently was employed but said he is based in Melbourne, Australia and has a 30-year global track record of expertise and experience in Asia Pacific. A Google search showed he was recently General Manager of W Melbourne.

Alan Woinski
October 26th, 2023 at 6:59 AM EDT

Companies: DoubleTree by Hilton, Generator, Golden Tulip Hotels, Hilton, Hilton Garden Inn, Hilton Hotels & Resorts, Marriott International, Red Planet, Sarovar Hotels and Resorts, SH Hotels & Resorts

Locations: Beijing, Bhopal, Da Nang, Hanoi, Ho Chi Minh City, India, Kyoto, Manila, Philippines, Phu Quoc, Seoul, Shanghai, Sri Lanka, Varanasi, Vietnam

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