Hyderabad and Mumbai Lead Indian Hotels' Growth

The Maldives reported over 100,000 tourist arrivals so far in August 2024. The total was 109,415 tourist arrivals at Velana International Airport between August 1 and 17, up 14.9% over the same period last year. China contributed 14.3% of the total arrivals, followed by Russia with 10.8% in the period between January 1, 2024, and August 17, 2024. That total is up 10.4% year over year to 1,292,472. The Maldives goal for this year is 2 million tourists, up from 1.8 million in 2023.

JLL said the Indian hotel industry registered 4.8% growth in RevPAR in 2Q24, driven by a rise in Average Daily Rate. Excluding Goa, all the other markets showed growth in RevPAR and ADR with Hyderabad leading the list. The second quarter recorded a dip in occupancy levels attributed to the onset of summer vacations and a subsequent decrease in corporate travel. RevPAR was a healthy +15.9% but that is down from 1Q. Hyderabad had RevPAR growth of 11.9% year over year followed by Delhi and Bengaluru at 11.8% and 10.4% respectively. Mumbai hotels led in occupancy, ADR, and RevPAR in 2Q24. JLL said in the second quarter of 2024 there were 82 branded hotel signings in India, comprising 9,732 rooms. There were 15 hotels signed for conversions, accounting for 11% of the inventory signed in the quarter. Branded hotel openings comprised 50 hotels with 3,755 keys of which 90% were located in tier 2 and 3 cities.

Hilton announced the grand opening of Conrad Chongqing, their 700th hotel in Greater China. This marks the luxury brand’s debut in the mountain city, further expanding Hilton’s presence in West China. In the first half of 2024, the company’s expansion introduced Hilton brands in 25 new locations across Greater China including Changshu, Guilin, and Rizhao. The 700th hotel opening took place less than a year after Hilton opened their 600th hotel in Greater China. Conrad Chongqing introduced an ‘Oriental Floating City’ concept that blends local nature and culture with contemporary design. The hotel is located in Nan’an District and offers 275 guest rooms, three restaurants, and a lobby bar. The MIST lobby bar is located on the 52nd floor. The hotel also features over 2,000 square meters of versatile meeting and event space. By the end of 2024, Hilton is set to operate more than 15 hotels in Chongqing, spanning all brand categories.

IHG’s Hotel Indigo brand announced the unveiling of a new property in Bandung, Indonesia. Its second Indonesian property is Hotel Indigo Bandung Dago Pakar. The hotel is situated 700 meters above sea level, offering a peaceful retreat amidst the greenery and misty mornings of Bandung. The hotel offers 277 rooms and suites with the lobby being encased in floor-to-ceiling windows. The hotel offers a range of dining experiences, Bandung’s highest infinity rooftop pool, nine meeting rooms, and a Grand Ballroom and more. Hotel Indigo is IHG’s second largest brand within their Luxury & Lifestyle portfolio with 154 open hotels across 25 countries. In 2024, new Hotel Indigo hotels are expected to open in destinations such as Grand Cayman, Jabal Akhdar, Bintan Lagoi Beach, and Palau.

The Park Hyatt Kuala Lumpur is now expected to open in the second quarter of 2025. The last opening date was expected to be in the fourth quarter of this year. The hotel is to be located in the tallest skyscraper in the city, the new Merkada 118 building. The hotel will take up the top 17 floors of the 118-story building. The Park Hyatt is expected to feature 232 accommodations, including 28 suites and 30 residential apartments.

Centara Hotels & Resorts announced its new Centara Life Lamai Resort Samui began welcoming guests on August 15th. The resort is situated 30 minutes from Samui International Airport, a three-minute stroll from Lamia Beach, which is one of Koh Samui’s longest stretches of coastline. The resort is a 61 key getaway with a modern loft design. The resort features an outdoor swimming pool and waterslide and other curated amenities.

Brigade Group and Accor announced the launch of ibis Styles Mysuru on KRS Road. This is the fourth hotel opened by Brigade Group with Accor as their partner. This is also the second in Mysuru after the Grand Mercure Mysuru. The new ibis Styles Mysuru has 130 guest rooms including 30 suites that offer a kitchenette, private balcony, spacious living areas, and family-friendly rooms. Amenities include restaurants and bars, including rooftop restaurant KA 16. The hotel also has meeting rooms and a spacious banquet hall, swimming pool, and a 24/7 fitness center. This is Brigade Group’s 27th project in Mysore and 9th hotel across India in partnership with global hospitality brands.

The Indian Hotels Company announced the development of a new resort in Sawai Madhopur, Rajasthan. The new greenfield project will operate under the Gateway brand. The Gateway Resort in Sawai Madhopur will feature 200 guest rooms, an all-day diner, bar, specialty restaurant, and a lounge. It will also offer over 15,000 square feet of banquet space, a spa, gym, and a swimming pool. With this addition, IHCL’s portfolio in Rajasthan will expand to include 30 hotels with nine currently under development.

In Karuizawa, Nagano Prefecture in Japan, the famous Mampei Hotel partly reopened after a major renovation. This year is the 130th anniversary of the hotel’s opening. Repair work started on the hotel building in January 2023. The rebuild included Atago wing, which has 30 guest rooms and reopened on August 16th along with restaurants and the café, ahead of the rest of the facilities. The hotel’s main Alps wing will reopen this fall and become available for overnight stays.

Singapore-based lifestyle and hospitality investment company Rascal Ventures Pte is seeking around $50 million of private credit to expedite the completion and opening of its luxury resort in Indonesia. Proceeds from the loan will be used to finish the development of Samara Lombok, a 110-hectare hospitality project which will feature hotels, villas, beach clubs, and a range of luxury resort amenities. JLL was appointed as the debt advisor to arrange the funding. The interest rate is expected to be in the mid-teens.