OYO Grows in Rajasthan and Sets Overseas Operations Hub in Jaipur

Fosun Tourism Group announced plans to buy around $300 million worth of shares at a 95% premium to where the stock had been trading. The stock had been halted since November 26th. Fosun will buy back all the shares not currently held by their group entities and then will delist from the HK Exchange. When shares were halted the stock had been trading at a -77% discount from its peak in 2019, down -31% in the past year.

OYO said it’s onboarding a new hotel every 2-3 days in Rajasthan, India, and plans to set up a back office in the state to support its overseas business. OYO’s CEO said Jaipur will become the backbone of the company’s operations in the U.S. and Europe. He believes around 1 lakh customers book its hotels every day across India and around the same number of customers stay in its hotels every day overseas as well.

Accor announced the debut of the 25hours Hotel brand in Jakarta, Indonesia, with the opening of 25hours Hotel Jakarta The Oddbird in the Sudirman Central Business District. The 38-story property is located atop the AHSHTA Mall in District 8 and features 210 rooms and 135 residences. The Garden Room at the hotel offers separate sleeping and living areas, a king-sized bed and city views. The Urban Room provides a stylish, retro escape and features a king-sized bed, complimentary minibar, marble bathroom, and city or garden views. The hotel’s Creative Lounges offer flexible meeting spaces with communal pantries for business travelers. The property also houses a 530 square meter ballroom with an outdoor deck and panoramic views, catering to both corporate and social events. The signature restaurant is called COPA and offers a Latin American culinary experience. The Spa & Wellness on the ninth floor offers a range of treatments. The 25hours brand is a part of Ennismore, the joint venture of which Accor holds a majority stake.

Malaysian real estate investment fund Pavilion REIT Management plans to acquire two hotels in Malaysia‘s capital Kuala Lumpur for 480 million Malaysian Ringgit (US$108.5 million). Pavilion REIT entered a conditional sale and purchase agreement for the 55-room Banyan Tree Kuala Lumpur and the 325-room Pavilion Hotel Kuala Lumpur. The Edge Malaysia reported that Pavilion plans to buy the Banyan Tree from Malaysian firm Lumayan Indah Sdn Bhd for 140 million ringgit and the Pavilion hotel for 340 million ringgit from another Malaysian company, Harmoni Perkasa Sdn Bhd. The Banyan Tree opened in June 2018 and occupies part of a 60-floor building in the city’s center. The Pavilion Hotel opened in December 2018 and operates as an independent hotel managed by Banyan Tree Hotels & Resorts, according to CoStar. The Edge said both hotels were indirectly wholly owned by Pavilion REIT major unitholder Tan Sri Lim Siew Choon, who also owns the city’s Pavilion Mall shopping center. Pavilion REIT has put into place a fundraising exercise to secure gross proceeds of a minimum of 264 million ringgit and a maximum of 552 million ringgit at an issue price to be determined by way of bookbuilding. The deals are expected to close in the first half of 2025.

The Rosewood Miyakojima is now accepting reservations for stays beginning March 1, 2025, marking the brand’s entry into the Japanese market. The 55-key property is a beach resort located on a secluded peninsula, with the water in the area known for its coral reefs and sea turtles. Entry-level accommodations at the resort range from 645 square foot Ocean View Villa to the 2,152 square foot Kamii House. All accommodations have private pools. There is a large wellness area with an Asaya Spa and fitness center, four restaurants and bars, a kids club and more.

Minor Hotels said they further expanded its Australasian portfolio, announcing the signing of the management letting rights for the landmark Queens Wharf Residences development from early 2025, setting a new benchmark for urban tourism in Brisbane. Queens Wharf Residences is the tallest tower within the new Queen’s Wharf Brisbane and is a 64-story development that redefines the skyline of Queensland‘s capital. The property features 1-, 2- and 3-bedroom apartments with balconies and innovative winter gardens equipped with lift and tilt windows. Guests will have exclusive access to luxury amenities, including a pool, spa, steam room, theater, leisure lounge room, gym, and direct access to the precinct’s unique entertainment options, world-class hotels and dining, sky-high views from the Sky Deck and a state of the art Event Center.

Melia Vinpearl Phu Quoc is introducing another level of luxury on Vietnam‘s captivating island with the rollout of The Level Villas, a new luxury villa category where guests are treated to a range of exclusive privileges, services and facilities, including their own private beach. The Melia Vinpearl Phu Quoc is the latest Melia property to launch Melia Hotels International‘s elevated service category, The Level. The resort transformed 95 of its upscale three-bedroom villas into The Level Villas. 56 of the villas are beachfront, with the remaining 39 villas offering sea and lake views. All of them feature their own private pool. The Level Clubhouse is at the heart of The Level Villas, exclusively for The Level Guests. The dedicated oceanfront venue offers a refined breakfast experience in an intimate, private setting, an elevated alternative to the hotel’s main buffet restaurant. During the day, guests can indulge in complementary refreshments and gourmet treats. There is also a dedicated concierge to curate personalized outings and arrange a private check-in and check-out. The Level guests can use any of the hotel’s facilities but they also have their own pool in front of The Level Clubhouse as well as a private beach exclusive to them.

Malibu Vung Tau Hotel announced its five-star certification was granted by the National Tourism Administration of Vietnam. That makes it the 12th five-star hotel in Ba Ria – Vung Tau Province. To get the rating, renovations were undertaken, including revamping all service facilities, including the swimming pool, children’s play area, bar, and spa. Additional VIP dining rooms and a new restaurant were introduced, and guest room interiors were renovated. The hotel also developed a new special floor with various room categories tailored for business travelers and families. The upgrade process was completed in September 2024.

The Mitchell family announced they are transforming the Alluna Motel in Armidale, Australia, into a stylish mid-century modern retreat, set to reopen in mid-2025 as part of Choice Hotels‘ Ascend Hotel Collection. The property will serve both corporate and leisure travelers. Extensive renovations are set to commence early next year with the intention of reopening in mid-2025 as part of Choice Hotels’ upscale Ascend Hotel Collection, a selection of soft-branded independent boutique, historic and resort hotels. The renovations will include a wellness center, bathhouse and redesigned rooms with curated vintage elements.