ITC Shareholders Okay Hotel Spin-Off
Skift Take
ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.
STR reported China hotel data for the week ended June 1st. Hotel RevPAR in China was up 2% year over year, up against a +60.4% comp. Occupancy was up 3.9% year over year.
For the second consecutive month, Japan recorded over 3 million visitors with a 56.1% year-over-year increase from April 2023. A total of 3,042,900 visitors were recorded in April 2024, up 56.1% over April 2023. The total number of visitors in the first four months of the year exceeded 11 million. April 2024 also brought a record number of US visitors to Japan at 228,900, up 24.5% from a year ago.
The Philippines received just above 2.4 million foreign tourists in the first five months of 2024, up 16.3% from a year ago. The Dept of Tourism said foreign tourists accounted for 93.4% of aggregate arrivals, which includes people classified as overseas Filipinos. South Korea remains the top source with 682,362 arrivals in the five mont
