Thai Luxury Hotel Rates Rose 5% Last Year

STR said the average daily rates for Thai luxury hotels rose 5.3% year on year in 2024. Occupancy rates also rose across key tourist cities. STR said the ADR growth is up 42.7% compared to 2019, outpacing hotels in London and Singapore. London and Singapore luxury hotels' ADRs are still way above Bangkok. STR also said occupancy rates in seven of Thailand's tourist cities showed steady growth through last year, with Chiang Mai having the largest year-on-year occupancy increase at 15.1%, followed by Krabi at 13.2% and Samui at 11.9%. The largest increases in ADR were Samui at 9.2%, followed by Phuket at 7.8% and Bangkok at 7.4%.

The Australian reported Blackstone is once again considering an acquisition of troubled Star Entertainment. Blackstone purchased Crown Resorts when they were having similar, but not as bad, issues as Star and had been rumored to be considering an acquisition of Star when this first started but apparently backed off. The article said they are now having serious conversations about taking over Star, believing it would provide synergies with its existing Crown Resorts company. The article suggested the NSW government is warming up to the idea of one owner owning both big Sydney casinos since the alternative is a Star collapse. The article said Blackstone would probably wait until Star entered administration.

Accor has expanded its premier apartment hotel brand from Australia, The Sebel, with the addition of The Sebel Melbourne Kew. The former Hotel 115 has been reflagged under The Sebel after a franchise agreement with Regional Accommodation Group. The Sebel Melbourne Kew is the ninth property for the brand in Victoria and 35th in Australia and New Zealand. This is RA Group's first city-based hotel and they are undertaking an extensive refurbishment of the lobby and reception with plans for progressive upgrades to the accommodations in the future. The Sebel Melbourne Kew has 89 hotel rooms and 23 one and two-bedroom apartments. Function space is available. The property is Accor's 42nd hotel in Melbourne and surrounding suburbs.

Accor has collaborated with Yaralla Sports Club to unveil its Peppers brand in Gladstone, marking the region's inaugural five-star hotel. Peppers Gladstone is the first newly constructed hotel to launch in the area in over 10 years and is expected to establish a new standard for premium lodging options in both Gladstone and the wider Central Queensland territory. The 32-room Peppers Gladstone complements the current 60-room Mantra Gladstone within the Yaralla Sports Club premises, functioning under a dual-brand hotel strategy. The Peppers hotel amenities include a heated outdoor swimming pool, exclusive access to an eight-seater cinema room, a gym, and two on-site restaurants.

The new owner of Travelodge Resort Darwin is preparing a significant makeover and rebrand. Western Australian boutique hospitality specialists Prendiville Group bought the property last year. They are preparing to rebrand the hotel as Leea, after a tropical plant. Leea has 136 hotel rooms and 32 townhouses and is undergoing a transformation. The reported purchase price as A$23 million. Toga property group paid $24.5 million when they bought it in 2006. The hotel has two swimming pools, the Treetop Restaurant, a conference room and sun deck.

Marriott International's Autograph Collection Hotels announced the opening of The Millen Penang in Penang, Malaysia. The 146-room designer hotel is described as blending colonial-inspired elegance with modern sophistication. The rooms offer views of the Andaman Sea and sky vistas. Amenities include Lili, a celebration of Penang's local flavors and Malaysian cuisine, Blacklinen Restaurant and The Good Society honoring the British tea culture. Other amenities include premier meeting and event facilities including Upperton Hall Grand Ballroom and the Nut&Meg Wellness Spa.

The 234-room Melia Pattaya Hotel will open on February 15th. The hotel is situated in vibrant Pattaya, a short drive from Bangkok on the Gulf of Thailand's east coast. Amenities include the Lay Beach Club on Beach Road fronting Pattaya Beach, a rooftop restaurant with a sky bar called Yitong Chinese Restaurant and Sky Bar, all-day dining restaurant Sanehh Sarae, executive lounge, swimming pool with an adjacent bar and function lawn, Melia's signature YHI Spa, kids club Kidsom, fully-equipped gym, coworking space, and a collection of versatile meeting spaces. The hotel is owned by Asset World Corporation. The five star hotel is part of Melia brand's rollout in key destinations across Thailand. The hotel has 218 rooms and 16 suites with seven accommodation categories ranging from 27 square meters to 125 square meters. The Level Presidential Suite tops the accommodations. 18 rooms and 16 suites will belong to The Level, an upgraded level of service and benefits that include exclusive access to The Level Lounge on the hotel's second floor.

Bloomberg reported KKR and Gaw Capital were close to an agreement to sell the Hyatt Regency in Tokyo to Japan Hotel REIT Investment Corporation for over 100 billion yen. Japan Hotel REIT Investment issued a statement saying that neither it nor its asset management team, Japan Hotel REIT Advisors, Co., Ltd., is currently engaged in any negotiations or considerations regarding the purchase of the property.

The Leela Palaces, Resort & Hotels announced their latest luxury retreat – The Raviz Palace at The Leela Ashtamudi, a Raviz Hotel. The entire Palace comprises one suite with an adjoining room on the first floor and two individual rooms on the ground floor. Each room accommodates up to 2 people so the maximum capacity is 8 guests, but there is another room on the ground floor that can be used as an assistant room. Adjacent to the Palace compound is a helipad for one of the ways to get there. The others are through a serene boat ride across Lake Ashtamudi or a scenic drive through Kerala's landscapes. Guests receive a specially curated itinerary, along with dedicated butler service.