Wyndham's Record Room Growth in Asia Pacific

Thailand's Council of State surprised everyone by releasing a detailed draft of the casino law. It was confirmed that the casinos would have to be part of a larger Entertainment Complex that includes a MICE area, amusement park and other facilities, a basic Integrated Resort. Potential locations named to host the Entertainment Complexes include Greater Bangkok, Phuket, Chiang Mai, and Chonburi (Pataya). They would be established within 100 kilometers of major airports with an investment of at least $283 million. Following the Singapore model, Thailand will have a reasonable entry levy for Thai nationals. Once the Cabinet approves, the bill will go for debate and amendment in Parliament. We have a feeling that 17% tax on casino gross gaming revenue may be up for debate as being low compared with Macau, Singapore and other successful gaming markets.

Thailand appears to be eager to beat Japan to the punch with new casinos. While MGM/Orix do not plan to have their IR casino ready in Osaka until 2030, that may be pushed back even more. The international organizer of the World Expo, the Bureau of International des Expositions, has asked Osaka officials to demand construction of MGM's IR on Yumeshima Island to be halted for six months next year due to concerns around noise and visuals. Jiji Press said, for now, Osaka officials are expected to reject the request. The 2025 Osaka World Expo will be adjacent to the MGM site, starting in April and ending in October of next year. The BIE is concerned about equipment being visible, the noise construction work might make and potential deterioration of the surrounding land.

Wyndham Hotels & Resorts said they had record growth in Asia Pacific in the first half of 2024. They signed more than 120 hotels, opened 74 new hotels and registered 8% YOY net room growth, equivalent to 15,100 rooms. The record number of signings in the region is underpinned by the return of travel across Asia Pacific and positions them for continued growth in the region. In Mainland China, Wyndham signed 104 hotels in the first half of this year. Their newly upgraded Microtel by Wyndham model made its debut there to help with that growth.

Marriott International announced it signed an agreement with Zhong An Commercial Group, part of China New City Group, to bring the W Hotels brand to Hangzhou. W Hangzhou is expected to open in 2031, located at the northwest intersection of Minhe Road and Liyi Road in Qianjiang Century City, the developing new CBD, 24 kilometers from Hangzhou Xiaoshan International Airport. W Hangzhou will occupy the top floors of a 240 meter building that will be part of the IOC company. The hotel will feature 270 rooms and suites with approximately half offering direct river views. There will be two signature restaurants, one bar, a swimming pool, FIT fitness center and the AWAY Spa for rejuvenation. A ballroom, junior ballroom and four meeting rooms will be available for social events and meetings.

Marriott International's Moxy Hotels brand, recently announced the opening of Moxy Chongqing, marking the brand's debut in Chongqing in Southwest China. Moxy Chongqing is situated within 100 meter walking distance to the People's Liberation Movement, one of Chongqing's landmark buildings. The hotel has 360 sleek guest rooms. On the 29th floor is the Moxy Bar. During the day it is a lounge and at night it transforms into a bustling space that rotates at a full circle in 90 minutes. The hotel has a fitness center and a brand signature 24/7 ironing room for guests that need to get the wrinkles out of their clothing.

Marriott Executive Apartments announced its debut in Penang with the launch of the Marriott Executive Apartments Penang, located in the Gurney Drive area. The property is located under the same roof as the Penang Marriott Hotel and Marriott Residences Penang. The elevated serviced apartment experience features separate sleeping and living areas, kitchens as well as features such as fitness and business centers, dedicated staff and security 24 hours a day, an outdoor infinity pool and a steam room. The property features 90 suites, featuring a mix of one-bedroom and two-bedroom options. Guests have access to all the amenities at the Penang Marriott Hotel including restaurants, bar, meeting space and more.

IOI Properties Group Berhad has entered into a sale and purchase agreement to acquire the 150 key W Kuala Lumpur Hotel from Malaysia-based Tropicana Residences Sdn Bhd for MYR 270 million through its 99.9% owned indirect subsidiaries. The hotel features four on-site food and beverage options, a swimming pool, spa, fitness center and various meeting and event spaces. IOI has also entered into another sale and purchase agreement with Pantai Kok Resort Development Sdn Bhd to acquire the 3.99 hectares of freehold land in Pantai Kok, Teluk Burau in Langkawi for MYR 90.1 million.

Hyatt Hotels Corporation announced an affiliate has entered into a management agreement with PT Central Sudirman Development, for the first Andaz hotel in Jakarta, Indonesia. Slated to open in early 2028, the hotel will be an integral part of Two Sudirman Jakarta, a mixed-use two tower development expected to be among the tallest skyscrapers in the country. The hotel, located in the heart of the CBD, will be the first Andaz-branded urban hotel in Indonesia, complementing Andaz Bali, a resort that opened in 2021. Construction has begun for Two Sudirman Jakarta.

Andaz Jakarta Sudirman will occupy the 40th to 72nd floors of Tower A. The hotel will include 198 hotel rooms and 167 serviced apartments. Amenities will include the Andaz Lounge, fitness center, outdoor pool, meeting rooms, all-day dining venue, bar, and a specialty restaurant on the top floor.

An entity linked to Shih Wing-ching, the founder of Centaline Property Agency in Hong Kong has acquire the 63 key Popway Hotel in Tsim Sha Tsui for HK$180 million from David Lau Ka-wai, a Hong Kong hotelier. A conversion of the Popway Hotel to student housing is expected.

Mumbai-based real estate developer Bharat Realty Venture Pvt Ltd said construction of the sixth Taj Hotel in North Goa will be completed by September 2027. The construction of the Taj Hotel in North Goa's Anjuna area will begin from next month and will be completed in the next three years. The 170 key sea view hotel will be constructed on a land parcel spread across 17 acres and cost 300 crore. IHCL signed a management contract with Bharat Realty Venture to operate the facility under the Taj brand.