OYO Plans to Repay Debt Prior to IPO
Skift Take
- IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region.
- OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat.
- Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.
STR reported China lodging data for the week ended November 11th. China hotel RevPAR was up 50% for the week, year over year, up against a +17.5% comp in the year ago. When compared with the same week in 2019, RevPAR was down -11.7%.
IHG Hotels & Resorts and Asset World Corp Public Company Limited extended their long-standing partnership with a new agreement to open two new luxury hotels in Chiang Rai, Thailand. The InterContinental Chiang Rai Golden Triangle Resort will offer 68 one and two-bedroom pool and plunge pool villas. Kimpton Chiang Rai Golden Triangle, which currently operates as The Imperial Golden Triangle Resort, will undergo an extensive renovation and convert to the Kimpton brand with 68 suites, along with a range of facilities. These destination resorts will mark IHG’s entry into Thailand’s Golden Triangle. IHG is on track to growth their luxury and lifestyle portfolio and Thailand by 50%. The two hotels will offer restaurants and bars by the ri
