The State of Asia Pacific Hotel Pipeline at End of Q3 2023

In the recently released Hotel Construction Pipeline Trend Report from Lodging Econometrics, Asia Pacific’s total construction pipeline, excluding China, continued to show steady year-over-year growth to end the third quarter of 2023 at 1,929 projects and 398,199 rooms, up 3% by projects year over year. The LE forecast for new hotel openings will rise in 2024 to 406 hotels and 78,110 rooms before slowing in 2025 to 358 new hotel openings with 74,199 rooms.

Asia-Pacific Hotel Pipeline by Status Q3 2023

Excluding China

Asia-Pacific Hotel Pipeline by Country Q3 2023

Excluding China

Asia-Pacific Hotel Pipeline by City Q3 2023

Excluding China

Asia-Pacific Hotel Pipeline by Openings Q3 2023

Excluding China

The Maldives has registered over 1.5 million international tourists since the beginning of this year. The top contributing countries are Russia, India and China. Russia has been responsible for over 180,000 tourists, 11.5% of the total foreign tourist flow. India and China are not far behind at 168,100 and 166,430 visitors respectively.

Thailand, still impacted by the death of some Chinese tourists a few weeks back, is considering a plan to station Chinese police personnel at some of the popular tourist destinations to bring back the confidence of travelers from their Asian neighbor. The Tourism Authority of Thailand confirmed they are in discussions with the Chinese embassy about a patrol program to bring Chinese police to Thailand, referencing a similar program that was implemented in Italy in the past. The controversy starters on the Internet quickly seized on this, saying Thailand will become another location for covert operations targeting Chinese dissidents overseas. Chinese arrivals have totaled 2.8 million so far this year, well below the government’s target of 4 million to 4.4 million.

YOTEL, in partnership with High Street Holdings, announced its debut in Malaysia with the signing of YOTEL Kuala Lumpur, a 290 room hotel located in the heart of the Malaysian capital’s Central Business District. YOTEL KL is projected to open in the summer of 2025 in a prime location in Kuala Lumpur’s City Centre district, in the city’s renowned Golden Triangle. The hotel will be steps away from the Petronas Towers, KLCC’s office and the KL Convention Centre and shopping center. The hotel will be part of a mixed-use development and will include a rooftop pool and bar offering views of the city’s skyline, as well as signature YOTEL amenities, including the multi-functional dining and co-working space, Komyuniti, a fitness center and Grab + Go snack station. YOTEL said Asia continues to be a key territory for their growth and with Kuala Lumpur joining the pipeline alongside Tokyo and Bangkok, they are doubling their current footprint in the region.

Radisson Hotel Group and Crown Regency Hotels & Resorts announced the signing of the Crown Regency Grand Paradise Resort Bohol, a member of Radisson Individuals. The 558 key, five star resort spans 2.9 hectares, close to several sandy beaches on the exotic island of Panglao, Bohol province in the Philippines. The resort’s amenities include a state of the art, 900 square meter convention center, other meeting and event space, tropical outdoor pools, spa, fitness center and diverse F&B venues, including an all-day dining destination, specialty Chinese restaurant, 1950s themed bar, lobby lounge and a pool bar. The resort is targeted for opening in 2025.

Galadari Hotels Lanka Plc said it signed an agreement with the Board of Investment of Sri Lanka as the first step towards the property’s refurbishment process. Galadari Colombo entered into two agreements, which include the Hotel Development Services Agreement which will later be followed by a Hotel Management Agreement with Radisson Hotels Asia Pacific Investments Ltd for Radisson to manage the property under a new brand name. The property will go through a total transformation which will enable the hotel to set new standards solidifying its high competitiveness in the industry. The first phase, which includes a project cost estimated at $33.5 million, will include 200 rooms, restaurant outlets, guest lobby and common areas and a completely revamped hotel façade. The second phase will commence one year after the completion of phase 1.

ST Signature, the hospitality brand of Katrina Group Ltd., unveiled its latest co-living hotel in Singapore, ST Signature Bugis Middle, marking its fifth establishment. The property is located in the heart of Singapore’s city center, providing access to several malls, F&B options and cultural experiences in its vicinity. The newly renovated property features 38 private cabins across 5 distinctive room types. There are co-living facilities – Cook Lab, a communal kitchen along with an outdoor terrace on Level 3 and pockets of lounge areas. This is Katrina Group’s third collaboration with the owner, Mrs Lee.

Soaltee Hotels and Resorts introduced the Soaltee Westend Resort Nagarkot. Formerly known as Tayo Eco Resort and operational since the first of this year, the transformation will enhance the hospitality experience in Nepal. Soaltee Westend Resort offers a variety of accommodations, boasting 42 rooms, including 10 villas and 2 suite villas, along with diverse dining options.

Personnel Moves

PRS Oberoi, Chairman Emeritus of the Oberoi Group, passed away this morning at the age of 94.

Sage Hospitality Group announced the appointment of Don Li to the position of Executive Vice President of Business Development & Head of Asia Pacific. Li will support new business growth and the optimization of performance for existing assets with an additional focus on seeking out partners and capital opportunities from overseas. In the past 10 years, Li was Executive Vice President & Head of Asia Investment Group with both Interstate and Aimbridge Hospitality.