IHG Plans Aggressive Growth in India and Vietnam

The latest data from Macau's Statistics and Census Service said Macau's MICE sector continues to drive non-gaming revenue, generating MOP4.48 billion (US$557 million) in the first three quarters of 2024. That number is up 5.4% from 2023. The number of MICE events in Macau rose by 29.8% year on year to 1,011 during the first nine months of 2024, reaching 94% of the pre-pandemic levels, an additional 232 events compared to the same period last year. Meetings and conferences drove the gains, up 30.2% to 943 events, with the number of participants growing by 12.7%, reaching 136,000. The exhibition segment only had 40 events with a 21.7% drop in attendees to 856,000.

Marriott International announced the launch of its 100th property in Japan, the Four Points Flex by Sheraton Osaka Umeda. This opening celebrates the entry of the Four Points Flex by Sheraton brand not only in Japan but the whole Asia Pacific region outside of China. Marriott has partnered with global investment firm KKR on the midscale hotel. Marriott is planning to open 12 additional Four Points Flex by Sheraton properties across Japan by the end of this year. The openings will introduce the brand to new markets, including Morioka and Kanazawa with a total of 14 properties joining the brand through the collaboration with KKR by early 2025, adding over 3,600 rooms to its portfolio. Destinations include Hakodate, Utsunomiya, Yokohama, Nagoya, Osaka, Kyoto, Kobe and Hakata.

IHG Hotels and Resorts has grown its presence in Vietnam's luxury hotel sector over the past 17 years, currently operating 10 luxury properties in eight destinations under its Six Senses, Regent Hotels and Resorts, and InterContinental Hotels and Resorts brands. They plan to aggressively expand to increase its current portfolio from 16 hotels to more than 40 properties, bringing their room count from approximately 4,800 to 12,000. The company plans to expand its Luxury and Lifestyle portfolio further with the debut of Vignette Collection in Hoi An and Hotel Indigo in Ho Chi Minh City. IHG is also expanding its premium and mainstream hotel brands with five Crowne Plaza properties in the pipeline, alongside rapid growth for its premium brand, with Quang Binh Resort to open soon. IHG is also planning nine additional Holiday Inn properties in Vietnam, adding to its existing locations in Saigon and Ha Tram. IHG also sees significant potential in introducing more midscale brands to the Vietnamese market, including new names such as Garner, Staybridge Suites, and Holiday Inn Express.

In India, IHG has aggressive expansion plans, hoping to double its presence in the next five years. The current portfolio of 46 operating hotels will include another 58 in the pipeline, as IHG aims to capture demand for branded accommodations in the country. IHG aims to integrate approximately 50 new hotels into its Indian portfolio as part of a robust signing strategy last year, with luxury, premium, and midscale segments among them. Top cities include Gurgaon, Jim Corbett, Mumbai, Amritsar and Goa, with Zirakpur and Kasauli new additions to the list.

Wyndham Hotels and Resorts is expanding in India with two new properties in Omkareshwar and Vrindavan. Wyndham Hotels is partnering with two real estate companies to introduce its Ramada brand to Omkareshwar in Madhya Pradesh and Vrindavan in Uttar Pradesh. In Omkareshwar, MVH Resorts entered into a franchise agreement with Wyndham to launch the Ramada Resort by Wyndham Omkareshwar Khandwa Road. The resort will include 150 keys, including villas, and a range of premium amenities such as an all-day dining and bar lounge, banquet halls, lawns, meeting rooms, a fitness center, swimming pool, and recreational facilities. The project is in advanced planning stages, with plans to welcome guests by late 2026. In Vrindavan, Wyndham has collaborated with Shri Vrindavan Residence to establish a 72-key Ramada by Wyndham Hotel. Amenities will include all-day dining, banquet halls, meeting spaces, a fitness center, and a swimming pool. The hotel is also set to open its doors by 2026 and is already under development.

Imperial Palace Seoul announced it would start anew by changing its name from the 10th of next month to Grand Mercure Imperial Palace Seoul Gangnam in partnership with Accor Group. This will be the third Grand Mercure in Korea after Yongsan and Changwon. Imperial Palace Seoul has been operating for 35 years and has been called the beginning of a luxury boutique hotel in Korea.

The StandardX brand will continue to expand with the debut of The StandardX Bangkok Phra Arthit this month. The hotel will have 62 guestrooms and two culinary concepts, nestled in Bangkok's old town on the banks of the Chao Phraya River near Silapakorn University, the city's most prominent arts institution. The rooms range from 30 to 46 square meters across four categories, from the Cozy King and Cozy Twin to King on the River and the spacious King of Kings.

The Primary Group of Builders signed an agreement on November 9 with Singapore multinational hospitality brand Banyan Group to manage and operate its foray into hospitality, Maayo Hotel, under the HOMM brand. The partnership with Banyan Group is said to signal Maayo Hotel's entrance into the global arena.

LET Group's Suntrust Resort Holdings originally said their Manila, Philippines casino would be open already. Then, it was late 2024 for the opening. Well, not surprising, Suntrust changed that prediction again, this time saying they will open the US$1.1 billion hotel and casino project in the fourth quarter of 2025.

The Macao Government Tourism Office has said over 90% of the rooms in Macau hotels are booked with the Grand Prix approaching. The MGTO has predicted that the four-day Macau Grand Prix will attract over 400,000 people. The event runs from today until Sunday, November 17th, and is going on despite a typhoon. The Macau government submitted its 2025 Fiscal Year Budget Proposal to the Legislative Assembly. They are projecting an increase in visitor arrivals next year and that GGR will rise to MOP240 billion. In the first 10 months of 2024, GGR is at MOP190.1 billion, up 28.1% year on year. 2019 GGR was MOP246.9 billion, so the Macau government is getting more aggressive with its projections.