Radisson Expanding in Cambodia and India

Tourism Malaysia said they are confident they can meet their ambitious goal of 27.3 million foreign tourist arrivals this year. They view favorably the government’s charter flight matching grant incentive, visa liberalization program and an intensified international tourism promotion effort. Malaysia welcomed over 20 million foreign tourists last year. Their target was 19.1 million. On December 1, 2023 the visa liberalization plan for Chinese travelers went into effect, stimulating a surge of inquiries and bookings from China to Malaysia. Trip.com reported a notable 53.9% increase in inbound travel to Malaysia from China during the Chinese New Year compared with last year. Tourism Malaysia has a goal of 200,000 tourist arrivals from China each month in 2024.

The third day of the Chinese New Year holiday period brought the most people to Macau in a single day since the pandemic. The Public Security Police said Macau recorded 217,000 visitor arrivals on Monday, up 54,000 from Sunday. That also was 96% of the visitation on the third day of the CNY holiday in 2019, when 226,000 arrived.

Centara Hotels & Resorts announced the addition of five properties to its diverse portfolio, strengthening its footprint in Thailand and Vietnam, setting the stage for strategic growth initiatives both domestically and overseas. Centara said they signed a strategic Hotel Management Agreement with Phi Phi Paradise Company Limited for its Villa 360 property. Set to reopen as Centara Villas Phi Phi Island in October 2024, the resort offers 40 villas ranging from 56 to 133.5 square meters and a host of amenities. At the end of 2023, Centara signed an HMA with Kornsiri Hospitality Management Limited Partnership for Tiva Ao Makham Resort Phuket, offering 68 rooms along Phuket’s southeastern coast. This will be Centara’s 11th hotel in Phuket and the newest addition to its Boutique Collection. In Vietnam, Centara is set to open two properties in Vung Tau City in 1Q27. The 261 key Centara Life Vung Tau and 536 room Centara Residence Dio Dua will offer guests various amenities. Crystal Holidays Harbor Van Don will open a second tower in 2Q25 as part of its plan to develop 5 hotel and resort apartment buildings within its 5-star international standard resort and entertainment complex, complimenting the existing Centara-branded Tower A. Tower B will comprise 496 rooms.

The meetings with SEBI clearly did not go the way OYO hoped for, at least if the Economic Times story is correct. ET said OYO is likely to soon withdraw the draft application for an Initial Public Offering from SEBI. The report said OYO has been in talks with several investors to raise cash in the next six to eight months.

Radisson Hotel Group and Prince Real Estate Group signed an agreement to introduce two of Radisson’s branded hotels to Phnom Penh’s hospitality sector by 2026. The collaboration will have Radisson Hotel Group enter the Cambodian hospitality market with two new hotel and serviced apartment offerings within part of the Prince Happiness Plaza project. It will include the Radisson Red Phnom Penh and Radisson Blu Hotel & Residences. The two luxury properties are scheduled to open by the first quarter of 2026. The Radisson Blu will have 250 keys, once completed, including 160 guest rooms and serviced apartments along with 90 branded residences, ranging from studios to three-bedroom residences. The Radisson Red Hotel Phnom Penh will comprise 200 suites inside the Prince Happiness Plaza complex, including deluxe and one-bedroom suites.

Radisson Hotel Group said they accelerated their growth in India by signing 21 hotels under a portfolio of nine brands in 2023. The 21 hotels also include the signing and opening of the group’s first property at Ayodhya in Uttar Pradesh – Park Inn by Radisson Ayodhya, the destination getting the most attention in India right now following the consecration of the Ram Temple last month. The first Radisson Collection in India was signed with the debut of two new hotel in Hyderabad by 2026 and Srinagar this year.

Yotel is in advanced discussions and is evaluating opportunities to sign its maiden hotel project in India this year. Apart from looking at specific projects, Yotel is also in advanced discussions with a number of groups for potential partnerships. Yotel is backed by the Al-Bahar Group and Starwood Capital Group and has hotels around airports and city centers in markets such as Singapore, London, New York, Istanbul, San Francisco, Washington DC, and Paris. Their Yotel brand is located in city centers and urban locations while YotelPad is meant for longer stays and YotelAir targets airports and transit hubs. They referenced a potential property around the Delhi airport and super high density markets such as Mumbai. Yotel currently has 23 operating hotels and 13 hotels under construction.

Wyndham Hotels & Resorts signed a franchise agreement for the Ramada by Wyndham Chennai, Potheri. SRM Group is developing the 170 room midscale hotel with the opening expected next month. Wyndham, like so many other hotel companies, wants to expand in India. They want their Indian portfolio to grow to 100 hotels by 2025.

Efforts to position Pualu Manukan in Malaysia as a five star boutique resort are underway to meet the growing demand for accommodation facilities on the island. The proposed development of the island involves the construction of 40 individual chalets which will be located in various strategic locations. The project is expected to commence in the middle of this year. Tourism facilities at Layang Layang on Mount Kinabalu will be upgraded with the hostel project scheduled for completion by May of this year.

The Nishitetsu Group announced the name of their upcoming hotel in Bangkok, Thailand will be Nishitetsu Hotel Croom Bangkok Silom, scheduled to open in the third quarter of 2024. This will be the first overseas opening for the Japanese-based CROOM brand. The hotel will have 172 rooms with 18 of them having kitchens, washers, and dryers. The basement floor will include a restaurant. The hotel is the former Solaria Nishitetsu Hotel, which opened in May 2020.