Hyatt Has a New Joint Venture to Help Boost China Presence
Photo Credit: A room at the Grand Hyatt Shenzhen, a current collaboration with CR Land. Hyatt Corporation
Skift Take
Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.
Singapore recorded 1.27 million visitor arrivals in September, up 12.3% year on year. Overnight visitors, however, were down -34.7% from last year at only 540,790. The Singapore Tourism Board said the average length of stay for inbound visitors was down -9.9% in September to 3.29 days. The top three feeder markets were China with 217,170 arrivals followed by Indonesia and Malaysia with 173,550 and 112,110 respectively. The Chinese had the longest average stay at 3.57 days. For the first nine months of the year, arrivals have totaled 12.59 million, up 24.1% year on year. That is also 87.9% of the 2019 total.
A recent American Express Trendex study showed Singapore travelers are expected to be the highest spenders on travel in the upcoming holiday season among 13 surveyed regions. The survey showed 85% of Singaporean residents intend to travel during the holiday season. 88% expressed interest in exploring new destinations while 73% prioritized travel more than in previous y
