Dusit Adds Hotels in the Philippines
Skift Take
Hue City in Vietnam is aiming to attract 4.8 million to 5 million tourists this year, with international visitors accounting for about 38%-40% of the total. The total revenue from tourism is expected to reach approximately VND 10.8 – 11.2 trillion (US$425-$441 million). The city's Department of Tourism is calling for investment in three to five projects to build 5-star standard hotels and resorts. Hue City will host the National Tourism Year 2025 with the slogan "Hue – Ancient Capital, New Opportunities" in conjunction with the Hue Festival 2025. In 2024, the city welcomed nearly 3.9 million visitors, an increase of 21.8% compared to 2023. That included nearly 1.45 million international visitors, up 16.6% from 2023. The main tourist markets were ASEAN, Northeast Asia, Western Europe, North America and Australia. Total tourism revenue was estimated at VND7.9 trillion (US$311 million), up 19.6% year over year.
The expansion project at Marina Bay Sands in Singapore, being called Marina Bay Sands IR2, has increased to $9 billion. The initial budget was $3.3 billion, then the project was expanded and the cost rose to $8 billion. Now with the $1 billion payment by Las Vegas Sands, the new plans show the project has increased again. The project centers around a fourth hotel tower that will feature 570 luxury suites and expanded gaming options, including a "sky gaming" concept in the tower podium. Other additions include a 15,000-seat arena, 110,000 square feet of MICE space, SkyPark and several high-end restaurants. Construction is expected to begin on July 8, 2025, with an expected completion date by July 8, 2029.
Dusit International signed hotel management agreements with IDC Prime, a wholly owned subsidiary of Italpinas Development Corp. to manage two new hotels in Northern Mindanao in the Philippines under Dusit's upper-midscale Dusit Princess brand. Dusit will manage the Dusit Princess Firenze and the Dusit Prince Moena. Dusit Princess Moena will open in late 2029, a feature of Moena Mountain Estate mixed-use development located in the mountains of Manolo Fortich, Bukidnon, on the outskirts of the Mount Kitanglad Range Natural Park. The 184-key hotel will cater to both business and leisure travelers. It will include a lobby lounge, business center, all-day dining restaurant, outdoor pool, gym, yoga room, and a versatile multi-purpose area. The Dusit Princess Firenze is also expected to open in late 2029, a key highlight of IDC's Firenze Green Tower project in the Limketkai area of Cagayan de Oro. Dusit will manage 180 rooms on the tower's upper floors. The 14-story mixed-use green development will combine commercial, residential and hotel spaces. The premium facilities offered will include a gym, spa, multipurpose areas, commercial spaces and a swimming pool. The Firenze Green Tower and Moena Mountain Estate projects are pre-existing real estate joint ventures between IDC and the Go family, the original site owners.
Hilton announced the signing of DoubleTree by Hilton Chandigarh Kakrali, its first DoubleTree property in the Greater Chandigarh region. The hotel is scheduled to open in 2025 and will be the area's first branded property offering extensive banqueting facilities, catering to the region's rising demand for weddings and MICE events. The property will feature over 7,500 square feet of meeting and event spaces, contemporary guest rooms, suites and cottages. Amenities include indoor and outdoor pools, a spa, fitness center, and a dedicated kids' activity room. With this hotel, Hilton's South Asia portfolio includes 56 hotels with 11 DoubleTree by Hilton properties operating and eight more in development.
IHG Hotels & Resorts signed a management agreement with Ananya Group (Prabhukrupa Estates & Properties) to launch a new Holiday Inn hotel in Puri, India. The new Holiday Inn Puri is slated to debut in late 2028, nestled on the Bay of Bengal's coastline. The hotel will feature 100 well-appointed rooms with sea views and three adaptable meeting venues, including a grand ballroom tailed for events and MICE gatherings. IHG currently operates 46 hotels in India under five brands. They have a pipeline of 58 new properties set to open within the next three to five years.
ITC Ltd has allotted 125.11 crore equity shares to its shareholders as part of the demerger separating ITC Hotels into an independent entity. ITC Hotels is now India's second largest hotel chain with a portfolio of 140 hotels and will list its shares following regulatory approval. ITC Hotels ceased to be a subsidiary of ITC Ltd. effective January 11, 2025. As part of the demerger deal, ITC will retain 40% of the hotel shareholding, with the remaining 60% equally distributed among existing ITC shareholders. Expectations are for ITC Hotels to begin trading on its own by mid-February, but it is dependent on getting final regulatory approvals.
For context, see Skift's report: ITC Hotels’ Spinoff Takes Effect: What it Means for India’s Hospitality Market (free read for DLR subscribers).
The Park Hyatt Phu Quoc is expected to open in the third quarter of 2025, although that timeline is not set in stone as they have not yet begun accepting reservations. The hotel will have 175 keys, made up of 110 hotel rooms and 65 residences. This will be Park Hyatt's first resort in Vietnam and the second property in the country after the Park Hyatt Saigon. The hotel is described as offering guests an exclusive oasis, a home-away-from-home, with a design inspired by traditional Vietnamese villages. All guestrooms, suites and villas will offer sea views. Amenities will include two dining outlets, a bar, poolside barbeque, two swimming pools, a lakeside park, a gym house with a lap pool, a Camp Hyatt kids' village, more than 4,300 square feet of event space, and an organic farm. The hotel and residences will be situated on the southwestern tip of Phu Quoc Island, stretching across 160 acres of land bordered by an expansive mile-long white sand beach on one side and hills on the other, a 30-minute drive from Phu Quoc International Airport.
Sri Lanka's first hotel fully managed and staffed by women held its grand opening on January 10th. Amba Yalu is nestled in the middle of a mango plantation bordering the banks of Kandalama Reservoir. Thema Collection built the hotel and features an old movie theater as part of its design, with posters, banners, and antique camera equipment displayed throughout. The restaurant itself is styled to resemble a retro cinema.
Ichigo Hotel REIT Investment Corporation has appointed Daiwa House Realty Mgt. Co., Ltd as the property management company for The OneFive Marine Fukuoka, a hotel asset it recently acquired.