Oberoi Family Fight Hasn't Stopped Hotel Growth
Skift Take
EIH Ltd plans to build new hotels in Pune and London, while facing a legal family dispute over the company.
The Mid-Autumn Festival is going on now in China and Hong Kong's hotel and catering industry are expected to struggle during the holidays. South China Morning Post said hotel chains have slashed prices to try to boost occupancy, blaming the strength of the Hong Kong dollar and a shorter holiday period. Last year the holiday was eight days, this time three and last year it bumped right up to the National Day Golden Week. They quoted an official from Miramar Group saying business was slower this year, prompting the chain to slash room rates by 10% to 20%.
The Malaysian Association of Hotels said hotels in most states have benefited from a pick-up in international tourist arrivals. They noted hotels within city centers, especially in Klang Valley, have been seeing good occupancy rates, around the mid-60s range. That is getting closer to the pre-pandemic rates of around 70%. Smaller states still have a ways to go to reach 2019 levels. From July to Augus
