India Okays ITC Spinning Off Its Hotel Business
Skift Take
The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.
The China Tourism Academy conducted a survey that shows Macau was ranked as the most satisfying destination for outbound travelers from mainland China in the first quarter of 2024. Macau's overall score actually fell during the quarter compared to 2023 when it was in third place but the 83.49 in 1Q24 landed it in first place as other regions saw much bigger declines. This is the first time Macau was ranked as the most satisfying destination for outbound travelers from mainland China. The survey also showed mainland residents are enthusiastic about traveling to Hong Kong and Macau and that the one-hour living circle of the Guangdong-Hong Kong-Macau Greater Bay Area is accelerating.
Macau hotel occupancy in April was 83.3%, up 4 percentage points year over year and in line with March's 83.5% rate. The Statistics and Census Service said April occupancy included 85.1% in five-star hotels, 79.6% in four-star hote
