Amex Reports on Thai Travel Plans for 2024

Hospitality Investor published an article suggesting the rebound in Asian Pacific tourism has stalled. The article focused on Japan and Thailand, two markets that were sizzling in the first four months of the year. The article quoted John Grant at aviation data company OAG warning that both destinations are suffering from the two year old Russian invasion of Ukraine and the delayed return of their core Chinese market. We'll say we are a bit skeptical of these comments given all the data we have seen in the past couple of months from these two markets and the way China's outbound travel market has been growing. This seems more about the airline industry than the overall tourism business.

The first American Express Travel, Dining and Luxury Trends Research for Thailand report said seven in 10 Thais surveyed plan to take at least three to four vacations as they gear up to travel more this year than last. The survey showed the top reason for traveling it taking a bucket list trip or dream vacation, with 68% citing those reasons. 47% said they wanted to travel more to celebrate a holiday or life event with 43% saying they will go on a romantic holiday. 55% of them prefer short trips over the weekend or a long weekend with 39% preferring trips that are a week or longer. They prefer domestic travel over international with 54% saying that. Japan is the top international destination for Thais with seven of 10 intending to visit the country this year. The top domestic destinations for the Thais surveyed are Chiang Mai and Phuket, both getting 56% of the responses.

Capstone Hotel Management announced the arrival of Auckland's newest lifestyle hotel, SOHO Hotel Auckland in partnership with owner-developers IPG Corporation Ltd. The SOHO Hotel Auckland has 126 rooms and suites, including a Spa Suite with outdoor hot tubs. There also is a two bedroom apartment on the hotel's top floor. Food and beverage options include Tiger Bar & Restaurant and Café Luxe. Later this year the hotel plans to open The Spa X SOHO, a double-level day spa featuring a large onsen pool and dry sauna, seven treatment rooms including two couple's spa rooms. An outdoor meditation deck, yoga space and gym complete SOHO's wellness offering. Meeting and event space is there for up to 200 guests. The hotel is located 10 to 15 minutes by car from downtown Auckland and the airport.

GCO Group has applied to the Christchurch City Council for consent to build an 11-story hotel on Petersborough St, just west of Victoria St. The hotel is planned for 148 rooms, a lobby, restaurant and bar on the ground floor. If approval is granted, construction could begin on the 4 ½ star hotel early next year with development taking two to two and a half years. GCO said they are in discussions with several large hotel chains about who will run the property. The hotel will be developed on the site of the former luxury apartment tower, the Est@blishment which was demolished in 2012. The land is now owned by Verve Apartments Limited Partnership which has a sale and purchase agreement with GCO. If approved, this would bring the number of new hotel rooms in the pipeline for Christchurch to about 680.

APH Holdings 1,360 square meter site in Box Hill in Australia has been repossessed by insolvency firm McGrathNicol. The site was slated for a Novotel Hotel. APH and Accor had reached a deal for a $100 million Novotel Hotel in the center of Box Hill. APH said the site no longer aligns with their key strategic investment focus as they have refocused on property investment rather than development. The site being repossessed is listed as having an existing hotel permit for the construction of a 162-room hotel, standing up to 20 stories high, located in the middle of Melbourne's second CBD, across the road from Box Hill train station.

KL Metro Group announced the groundbreaking of its latest project – Lexis Hibiscus 2 in Port Dickson in Malaysia. This follows the success of the Lexis Hibiscus property. The new Lexis Hibiscus 2 will be situated adjacent to the Lexis Hibiscus resort, spanning 80 acres. The Gross Development Value is RM1.6 billion. The Lexis Hibiscus 2 will feature 1,710 units including 910 water homes and 800 sky pool suites in two high-rise blocks that will form the shape of Malaysia's national flower, the Hibiscus. The property is scheduled for completion by mid-2029. It is a strategic joint venture between KL Metro Group and Menteri Besar Incorporated, the investment arm of the Negeri Sembilan State Government.

BCM Group has acquired Bengaluru's five-star hotel, The Golden Palms Resorts and Spa. The resort, spread around 15 acres, has been acquired from World Resorts Limited. BCM Group has taken full ownership of the luxury hotel and plans to transform it into a premier wedding destination and MICE facility in India. BCM said the acquisition aligns with the group's plans to expand into the luxury hospitality segment in India. Its hospitality portfolio also includes five-star properties such as Sheraton Grand Palace in Indore and Le Meridien in Surat besides an upcoming Taj hotel in Indore with 450-plus keys. The Golden Palms Resorts and Spa has 150 rooms and suites, a spa, specialty restaurants with an exclusive vegetarian kitchen, a swimming pool, business center, conference halls and other recreational facilities. BCM Group plans to add 50-plus rooms to the resort and will partner with one of the top international hotel operators for the project after the upgrade. BCM also said they will add 110 rooms to its 115-key Sheraton Grand Palace property in Indore and are also upgrading Le Meridien in Surat as well.

Shervani Hotels announced the opening of Shervani Pebbles & Pines Corbett, a unique boutique hotel with 48 rooms in the heart of Jim Corbett National Park. There are 24 Deluxe Rooms, 16 Premium Rooms and 8 Superior Rooms available at the hotel. The property's indoor event area can accommodate up to 80 guests while the outdoor space can serve 24. A 24x7 multi-cuisine restaurant is available for guests.

Personnel Moves

Langham Hospitality Group announced they named Jack Xiao as their new Senior Vice President – Operations in China. Xiao will be stationed at the company's Shanghai office and will oversee Langham's mainland China portfolio of hotels and resorts while also supervising the group's functional teams for the market. Xiao previously held key positions with Accor, Wanda Hotels & Resorts, Starwood Hotels & Resorts and Yongle Huazhu. The appointment comes as Lo Young steps down to retire after close to seven years of service as the group's Regional Vice President – China, Macau, Taiwan and most recently as Senior Vice President – Operations, China.