India Sees Double-Digit Room Rate Growth

HVS Anarock said the major hotel markets in India registered near double digit ADR growth in February. Occupancy rates were 1 to 3 percentage points higher while ADR surged. HVS said the Hyderabad hotel market had a 16 to 24 percent ADR rise despite a small dip in occupancy rates in February 2024. Goa also saw room rates rise despite a fall in occupancy. HVS said Indian hotels operated at an ADR in the range of INR 8800 to 9000 in February 2024, 7 to 9 percent higher than February 2023. On a month to month to month basis, ADR was 5 to 7 percent higher than January 2024. RevPAR was INR 6336 to 6600, up 9 to 11 percent compared to February 2023 and up 15 to 17 percent compared to January 2024. Chennai showed strong occupancy growth, up 6 to 18 percentage points over the same period last year. HVS Anarock said the ADRs and RevPAR numbers were 30% and 25%, respectively, higher than the February 2019 numbers.

ONYX Hospitality Group announced the expansion of its Shama brand in Thailand with the launch of Shama Rayong, capitalizing on the demand for serviced apartments. The new property is expected to welcome its first guests from the first quarter of 2026. Rayong is a city on the east coast of the Gulf of Thailand and the capital of Rayong province, southeast of Bangkok. The Shama Rayong will have over 150 room keys encompassing Studio, One-Bedroom, and Two-Bedroom apartments. Amenities will include a restaurant, swimming pool, gym and meeting rooms, alongside the signature touches the Shama brand offers to their guests. One of those include the Shama Social Club, a key differentiator. ONYX currently operates 16 Shama properties in prominent locations in Hong Kong, Bangkok, Hangzhou, Changchun and Daqing with another five properties under construction in Malaysia, Hong Kong, China and now in Thailand.

Berjaya Corp Bhd said it finalized the acquisition of eight parcels of freehold land totaling 20,977.15 square meters, or 5.18 acres, in Yokohama, Japan for RM407.3 million. Berjaya Yokohama Hospitality Asset TMK, their wholly-owned unit, entered into an agreement with the city in late March for the acquisition of the waterfront property. The acquisition is intended for the development of the Four Seasons Yokohama Harbour Edge project, consisting of a luxury hotel, upscale residences, an aquarium and retail outlets. BY-TMK also entered into a lease agreement with the city of Yokohama for the lease of three parcels of waterfront land adjacent to the main land, five meters from the ocean front.

Adina Apartment Hotel Sydney Town Hall is set for a multi-million dollar refurbishment that will commence in mid-April 2024. The 27 story hotel in the Sydney CBD features cityscape views, four conference spaces, a pool, gym and 145 apartments from studio size to three-bedroom offerings. The hotel will shut down from April 16th until renovations are complete in December of 2024. TFE Hotels said the project represents a huge repositioning of the asset and is the latest in their portfolio to undergo an extensive update as part of the rolling refurbishment program. TFE said the completed guest rooms will look and feel like contemporary long-stay apartments with lighting being a key design element. Adina Town Hall is owned by TOGA Group.

Indian Hotels Company announced the signing of a Taj branded resort at Kollam, Kerala. The resort is a Brownfield project. The resort is nestled on a 13 acre site along the scenic Thirumullavaram Beach, on nearly 600 feet of pristine beachfront. It will feature 205 rooms, each with views of the Arabian Sea. The resort will showcase a wide array of amenities, including an all-day diner a specialty vegetarian restaurant, a chic bar, a rejuvenating spa, a swimming pool, and a fully-equipped gym. The resort will have over 20,000 square feet of versatile banqueting space and expansive lawns. The resort is owned by The Beach Resort Pvt Ltd. Kollam is situated on the shores of the Ashtamudi Lake and the Kallada River. With this property, IHCL will have 20 hotels across Taj, SeleQtions, Vivanta and Ginger brands in Kerala in India including six under development.

Sarovar Hotels announced the opening of three hotels Sarovar Portico Sonipat, Grand Continent Malleshwaram in Bengaluru and Grand Continent Anjuna Goa. With the openings, all done on the same day, Sarovar has achieved a total of seven openings in 2024, making it the fastest growing chain in the Indian subcontinent. All the hotels are located in prime locations across various leading and emerging destinations, enjoy distinctive features, modern amenities and Sarovar Group's F&B outlet, Flavours. Sarovar Portico, Sonipat features 71 furnished rooms, complemented by upscale dining and entertainment options, including the Flavours all-day dining restaurant and a Lounge Bar called The Chill. The hotel also includes a large banqueting facility, rooftop pool, gym and a spa. Grand Continent Anjuna Goa offers 44 rooms in North Goa, a short distance from Anjuna & Vagator beach, featuring well appointed executive rooms, deluxe rooms, family suites, Flavours, a gym, banquet hall and a spa. Grand Continent Malleshwaram is a 34 room property situated a kilometer away from SBC Railway station and the Majestic Bus stand.

Viceroy Hotels has emerged from its corporate insolvency resolution process. Anirudh Agro Farms Ltd is the successful resolution applicant, paving the way for a new chapter. The stock began trading today with a 4% rise. Viceroy Hotels said all dues per the resolution plan were settled by Loko Hospitality Pvt, a subsidiary of Anirudh Agro. Viceroy plans to expand its footprint by acquiring distressed hotel assets across India. They own two properties in Hyderabad and are looking to increase their room inventory and capitalize on the booming hotel industry.

Suntrust Resort Holdings said they pushed back by another quarter their planned opening of the main hotel/casino of the US$1.1 billion hotel and casino development in Manila, Philippines. Suntrust is controlled by the troubled LET Group. They said the structural work was completed and the construction of the façade work is up to the roof level. The resort is part of the Westside City development in Manila's Entertainment City precinct. When completed the casino will have 281 gaming tables, 1,126 slot machines and 134 electronic table games. The resort will include 475 luxury hotel rooms, a pool deck, spa, wellness center, a ballroom and MICE space, multiple theaters, a grand opera house, food mall and four cinemas.

Personnel Move

Hilton announced the appointment of Joseph Khairallah as Area Vice President and Head of Japan, Korea and Micronesia. He is based in Tokyo and will oversee Hilton's 32 trading hotels and future pipeline growth. Khairallah takes over from Timothy Soper who has been at the position for 12 years. Khairallah was previously Hilton's Vice President of Operations for North China.