STR reported China hotel data for the week ended March 16. China hotel RevPAR was down -5.5% year over year for the week. It was up against a tough 134% comp in 2023. Truist remarked that they believe the China hotel market is experiencing “revenge travel fatigue” similar to what occurred with US leisure travel in 2023.
Macau recorded 3,293,564 visitor arrivals in February, a 15.1% increase over January. The result showed 110% growth over February 2023 but we don’t believe that is meaningful given how February was the first full month after the Zero Covid policy was lifted and residents were still hesitant to travel. More meaningful is that the arrivals number was 92.9% of February 2019. Mainland China visitation reached 95.7% of February 2019 levels. Foreign visitation was 176,192, at only 71.6% of the same period in 2019. We mention this because the Macau government has spent considerable funding and time and effort on promotions and forcing the casino resorts to cater to international visitation and that has not worked at all. South Koreans were the biggest foreign visitor source in February with 41,844 arrivals.
The Ozone Group Phuket announced the latest addition to its portfolio, The Ozone Signature, A Registry Collection Hotel, located in the vibrant area of Bang Tao-Cherngtalay, known as Phuket, Thailand’s “Thonglor.” The project encompasses both a luxury Condominium and a Luxury Hotel and marks a collaboration with Wyndham Hotels & Resorts, bringing the Registry Collection Hotels brand to Asia Pacific for the first time. The property is expected to open in March 2027 and will offer 118 luxurious rooms ranging from 36 square meter Deluxe Rooms to 88 square meter Presidential Suites. Amenities will include a swimming pool, pool bar, spa, fitness center, meeting rooms, and gourmet dining options.
The Australian Financial Review said Golden Age has put its 264-room Ace Hotel in Surry Hills on the Sydney city fringe up for sale. The asking price is said to be up to A$300 million. This would be the first major short-stay accommodation offering of the year. The hotel was opened by Golden Age in May 2022 after signing a deal with US lifestyle hotel brand Ace Hotels to operate it under a management agreement. The project was originally valued at $350 million when the development was first announced in 2018. The 18-story hotel is a reuse project, converting a 10-story former warehouse building known as Tyne House. Golden Age acquired the building in 2018. Ace Hotel Sydney includes a gym, conference rooms, and several food and beverage options including the Kiln rooftop bar and restaurant, and is the only Ace Hotel in Australia. Golden Age appointed CBRE to market the hotel via an international expression of interest campaign closing on May 2.
The Vibe Hotel on Flinders Street in Adelaide has a bit extra for their neighbors. A Facebook post showed that the accommodation’s bathtubs are in full sight of anyone looking to the building from outside. That is before any blinds or other window treatments are included. A Vibe Hotel spokesman responded to the social media firestorm by saying the venue’s hotel rooms have curtains so guests are in control of their own privacy. They also said the Adelaide Hill rooms had uninterrupted windows, while rooms below level nine had frosted windows and city view rooms did not have the bathtubs. The tubs are in the “Urban Retreat” rooms. The 123 room hotel opened in February 2023, developed by GuavaLime. The Vibe Adelaide features a suspended bridge pool that allows guests to “swim” between the hotel and neighboring ONE Apartments.
Berjaya Land Bhd is planning at least ten Four Seasons hotels and resorts across Japan. This was said at the groundbreaking for the Four Seasons Resort & Private Residences Okinawa. No timeline was given for the company’s expansion plans but Berjaya said they were finalizing development details for the Four Seasons Hotel in Yokohama which will be their next one after Okinawa. They intend to build more Four Seasons hotels and resorts in Japan after Kyoto, Okinawa and Yokohama. The Four Seasons Kyoto was the first collaboration with Four Seasons in Japan, opened in 2016. The Four Seasons Okinawa will have a gross development value of US$1.12 billion and will be on 32 acres of land, offering 127 resort rooms, 124 condominiums and 28 villas. For Four Seasons, this will be their fifth hotel they manage in Japan and first resort and residences in the country under the brand.
Songtsam, located in Tibet & Yunnan Provinces of China, announced the Songtsam Lodge Nujiang Canyon opened in February 2024. The 55-room lodge is Songtsam’s seventeenth property, providing guests with a luxury lodging experience in the remote northwest Yunnan region, in the historic Chisadi Village. Rooms include deluxe, two-bedroom luxury family suites, four-bedroom Nujiang luxury suites and other room types, ranging from 40 square meters to 246 square meters. The lodge also features a lobby bar, restaurant, bar, Spa, gym, boutique and a multifunctional entertainment area.
ITC Hotels Group announced plans to expand its presence in Uttarakhand, India, by introducing a 55-key property under the STORII Rishikesh. The property, located on the hillside, an hour’s drive from Rishikesh, will be ready to open by 2026. It will feature comfortable and spacious rooms, including special suites with private pools attached.
Omkara ARC has acquired Park Hyatt Hyderabad’s loans for Rs 300 crore from lenders at a 34% discount from sellers that included BlackRock and JM Financial. The all-cash deal involved Omkara paying Rs 300 crore to buy the Rs 450 crore principal outstanding of Park Hyatt in Hyderabad, a 5-star luxury hotel consisting of more than 200 rooms, including 25 suites and 40 serviced apartments. The total debt outstanding, including interest and principal, is Rs 700 crore.
Hilton announced the opening of its newest property, Canopy by Hilton Seychelles, marking the brand’s debut in the Indian Ocean. Canopy by Hilton Seychelles, located south of Mahe, is the brand’s first resort property in the world. The 120-guest-room resort includes a tranquil spa and world-class food and drink offerings, with three dining venues and the Sega Bar. Other F&B options will open later this year.
