Can Thailand Can Meet Its Tourism Goals This Year?

The World Travel & Tourism Council said they believe Singapore is on track to break its all-time international arrivals record this year. International arrivals are projected to reach almost 16 million in 2025, 9.6% above pre-pandemic levels. India arrivals are expected to jump to 1.25 million this year, the highest on record. Record numbers of Chinese visitors are also expected to reach 2.8 million in 2025. The WTTC also expects international arrivals to Thailand to break all records with 5% growth while the Philippines will make a run at their previous high of 2019. Malaysia is expected to break its record from 2016 by almost 7% this year.

Bloomberg Intelligence Research is not as certain as the WTTC on Thailand's 2025 tourism. They believe Thailand's ambitious goal of attracting as many as nine million tourists from China this year is in doubt. The news that Chinese actor Wang Xing's kidnapping is what is said to be behind a -94% surge in flight cancellations to Thailand. Bloomberg said the Chinese opted to take their families to the ski fields and hot springs of Japan during the Lunar New Year. Bloomberg said trips to Thailand in the first two weeks of February were still lagging behind last year's levels. Meanwhile, flight bookings to Japan from China have more than doubled in the first quarter from last year. Japan attracted a record 980,000 Chinese tourists last month, more than double from last year, while Thailand only has nearly 711,000 Chinese visiting so far this year through February 2.

Hilton announced the signing of three new hotels in Southeast Asia as they continue to expand their focused service presence in the region. The 250-room Hilton Garden Inn Hoi'An Tra Que Village will mark Hilton's first foray into Hoi An, Vietnam, while the 160-room Hilton Garden Inn Kota Kinabalu Tuaran will expand Hilton's footprint in Sabah, Malaysia. The 159-room and suite Hilton Garden Inn Bali Nusa Dua in Indonesia will reinforce Hilton's presence in the holiday location, their fifth property in Bali. Hilton's goal is to more than triple their focused service footprint in the region in the coming years, increasing the number of Hilton Garden Inn and other mid-market branded hotels from 12 to 40. Vietnam will see the biggest expansion from the two current focused service properties in operation to almost 20. Hilton currently has 102 properties in Southeast Asia and is on track to expand its portfolio by more than 50% in the coming years.

The former Courtyard by Marriott, Sydney North-Ryde, has transitioned to Crowne Plaza by IHG Hotels & Resorts. A major part of the property's rebranding includes the announcement of a significant refurbishment, which will begin in late 2025 and will transform the hotel's guest rooms and public spaces. The first phase includes improvements to its public spaces and updates to its restaurant and bar, and conference and events spaces. During the second phase of the upgrades, public spaces and 196 guest rooms will be refurbished, including the lobby and welcome area. The Crowne Plaza Sydney Macquarie Park is located close to Sydney Olympic Park and Lane Cove National Park and is operated by Trilogy Hotels.

Phuket has welcomed its first Autograph Collection Hotel with the Veranda Resort Phuket. The hotel has 159 rooms and suites and is located on the secluded Cape Panwa Peninsula.

The Aman Nai Lert Bangkok has an opening date. The ultra-luxury hotel will open on April 2nd. This will be Aman's 36th location and will feature just 52 suites with expansive floor-to-ceiling windows overlooking Bangkok's Nai Lert Park and the city beyond. Each suite is more than 1,000 square feet and comes with perks like fast-track arrival airport services and limo transfers along with access to the two-story, 16,000-square-foot Aman Spa & Wellness Center. The Aman Suite occupies the entire 18th floor of the hotel and exceeds 7,600 square feet with three bedrooms, a private spa, study, private elevator and its own cinema room. The 19th floor has an open-air terrace exclusive to Aman Club Founders. The hotel includes an Italian restaurant.

Filinvest Development Corporation subsidiary, Chroma Hospitality, has officially signed an agreement with QM AZ Holdings Inc. Grafik Hotel Collection will debut in Cebu as Filinvest's Chroma Hospitality signed a deal with QM AZ Holdings. Grafik Hotel Collection in Moalboal, Cebu, will include 126 rooms, four food and beverage concepts, including Chroma's Azure Beach Club and its own Aum Spa. It will also offer fitness and recreational facilities, meetings and event spaces, and a dive shop with a dedicated dive pool.

Fitch Ratings has revised the Outlook on Singapore-based CDL Hospitality Real Estate Investment Trust's Long-Term Issuer Default Rating to Negative, from Stable. They affirmed their rating at BB+. Their Negative outlook reflects expectations that EBITDA net leverage could remain higher than 8.5x-9.0x in the next few years. Failure to deleverage below 8.5x by 2026 could prompt a downgrade.

MGM China is seeking a US$2 billion syndicated loan. The Macau gaming company is in talks with over a dozen banks for a five-year Hong Kong dollar-denominated facility (HK$15.6 billion). This would be MGM China's first syndicated loan since the onset of the pandemic. Proceeds would be used for refinancing purposes.

Personnel Move

Ovolo Hotels said Group Director of Marketing, Stephen Howard, will depart at the beginning of April to refocus on family and health. Howard joined Ovolo in 2018.