STR reported China hotel data for the week ended January 6th. Hotel RevPAR in China was up 41.8% year over year. It was up against a 6.9% growth comp. In the same week in 2019, China hotel RevPAR was down -12.6%.
Banyan Tree Group is celebrating its 30th anniversary with the change in name to Banyan Group. The company said the brand shift reflects the group’s evolution into a dynamic, multi-brand hospitality powerhouse. The group has doubled its brand portfolio since 2019. In 2024 they are planning 19 new openings including properties and residences in Cambodia, China, Japan, South Korea, Vietnam and Mexico. The Angsana Siem Reap will be the group’s first in Cambodia while Banyan Tree Higashiyama Kyoto will be their first Banyan Tree property in Japan. In North America, Banyan Tree Veya Valle de Guadalupe marks the debut of their first full-fledged Banyan Tree Veya in Mexico. Banyan Group currently manages 12 global brands, 75 hotels and resorts, over 60 spas and galleries and 14 branded residences across 22 countries. The 2024 expansion follows a solid 2023 where the group’s RevPAR surpassed the pre-pandemic performance by 27% on a same store basis.
The all new Four Seasons Hotel Dalian in China is now accepting reservations ahead of its anticipated opening on March 1, 2024. The hotel presence begins with a sky lobby on the 41st floor with guests finding a welcoming Lobby Lounge for tea, coffee or cocktails. Also on the highest floor is Harbour Bar which includes a tapas-style menu as well as beverage service. The floor below includes additional dining experiences. The 38th floor includes a Spa and sea-view fitness center and an infinity pool that appears to spill into the cityscape below. There 254 guest accommodations are located on the 23rd to 36th floors. The Executive Lounge is on the 33rd floor. Event spaces are located on the 5th and 6th floors. The hotel is located just a 15 minute walk from the Dalian International Conference Center in the core of the Donggang Business District.
Acure Asset Management has acquired the Red Sands Hotel in Newman and Accommodation Park for A$10 million, adding to their portfolio of hospitality assets in Western Australia. The national funds manager bought the accommodation park which comprises an 83 room hotel and a tavern across two sites totaling more than 10,000 square meters. The seller was local investor Philip Meagher. This is the third Western Australia hotel transaction for Acure in 2023 as the transaction closed last month. In March they paid $38 million for Quest Fremantle and $18 million for Sebel Mandarah in July. CBRE brokered the Rad Sands and Accommodation Park transaction. Acure formed a new fund to house the Newman asset with the Mandurah and Fremantle properties in a separate trust. The fund manager also owns two other operating hospitality assets, including Newman Hotel, which it bought in a separate syndicate in 2017. In 2014 they bought Capricorn Village.
Indian Hotels Company is set to bring two Taj-branded resorts on the islands of Suheli and Kadmat in Lakshadweep in India. IHCL first announced the signing of two Taj-branded resorts on the islands last year. The Greenfield projects are set to open in 2026, developed by IHCL. The Taj at Suheli, a ring-shaped island with a coral reef rim that encircles a lagoon, will have 110 rooms including 60 villas on the beach and 50 water villas. Kadmat Island, a coral island with a large lagoon also known as Cardamom Island, will feature the Taj hotel at Kadmat with 110 rooms comprising 75 beach villas and 35 water villas. IHCL has a portfolio of 252 hotels including 67 under development globally across four continents, 11 countries and in over 100 locations.
The Jammu and Kashmir Tourism Development Corporation has opened the doors to international and national investors by inviting bids for the outsourcing of the Centaur Lake View Hotel. The hotel is situated at the prime location of Cheshmashahi on the banks of Dal Lake. JKTDC’s bid notice outlines the intention to outsource the development, finance, operation and maintenance along with the transfer of Centaur Lake View Hotel in Srinagar. The concession period will be 60 years, including the construction period. JKTDC has adopted an online single-stage three-part e-forward auction process with the last date for submission of bids on January 29 with the bid due date set for February 28.
Lord Hotels & Resorts, considered India’s leading mid-market hotel chain, announced they signed a hotel at Dera Bassi-Mohali Chandigarh in India. The hotel is expected to open its doors in early 2024 with modern and contemporary rooms, all-day dining restaurant and a rooftop lounge bar. The property will offer a range of banqueting and conferencing facilities.
Lexis Hotels & Resorts Sdn Bhd is set to open two hotels with a total gross development value of about RM1.22 billion amid the resurgence in tourist arrivals in Kuala Lumpur. The GDV of Imperial Lexis Kuala Lumpur, located in the city centre, stands at RM720 million while the Lexis Hibiscus 2, with a GDV of RM500 million, is located adjacent to the current Lexis Hibiscus in Port Dickson, Negeri Sembilan. Imperial Lexis KL is slated to welcome guests soon while Lexis Hibiscus 2 is expected to be completed within five years. The latter will feature over 1,000 rooms with a private pool in each villa. Imperial Lexis KL will feature 275 hotel rooms and suites with a private pool in every hotel room and suite, a first in Kuala Lumpur.
World Hotels and Resorts said they named Dhiman Mazumdar as their new Chief Operating Officer, responsible for their two brands – WGH and Lyfe Hotels. Prior to joining World Hotels and Resorts, Mazumdar was associated with the Mayfair Group of Hotels as Vice President of Sales. He has commissioned and managed several hotels throughout India during his 30 year career.