Rising Tourism Driving Singapore Hotel Sector Growth

Travel and Tour World jumped on the Singapore bandwagon, saying the hotel sector is expanding with over 1% annual growth, driven by rising tourism, lifestyle brands and increasing international arrivals. 2023 and 2024 expansion was led by Midscale and Upscale categories with a significant focus on lifestyle brands and rebranded properties. The article said there has been a marked departure from traditional corporate hotels, particularly in Singapore’s Central region. The one big negative last year was that China visitor numbers remained subdued, reaching only 40% of prepandemic levels through November 2024. As for hotel transactions, they discussed an increase geared towards co-living conversions, along with leasehold acquisitions that offer more favorable yield opportunities.

The Moxy Bangkok Ratchaprasong introduced vibrant and versatile event spaces in Bangkok. This is the first Moxy hotel in Thailand and largest in Asia Pacific. The Library and Plug-In Area is a fully-equipped 34 square meter creative space, perfect for business meetings, cocktail receptions and intimate parties. The Moxy Bar & Restaurant can be used for social gatherings while the outdoor terrace provides city views. The hotel will soon open a rooftop space, expected to be a premier event destination in Bangkok.

Hann Philippines Inc. said it will develop the InterContinental hotel as part of the expansion of the group’s Hann Casino Resort, instead of at the under-construction Hann Reserve property in Clark Freeport in the Philippines. The hotel is expected to be ready by 2029 and will have around 350 rooms, up from the previous plans for 250. The expansion of the casino IR also includes the construction of a 640 room hotel under the Novotel brand. The IR right now offers 865 hotel rooms under the Swissotel, Marriott and Widus brands. The casino expansion will be on two new floors. The company is moving ahead with its Hann Reserve project which will feature three 18 hole golf courses, several upmarket hotels, villas and a casino. The project will also feature a commercial center residences and an international school. So far they have confirmed the So, Sofitel and Emblem hotel brands from Accor and Luxury Collection and Westin by Marriott International for Hann Reserve.

Praveg Ltd. signed a hotel management agreement with Indian Hotels Company Ltd to manage its luxury resort in Lakshadweep. IHCL will manage Praveg Ltd’s Praveg Atoll property on Bangaram Island in Lakshadweep. The resort will be classified under the SeleQtions brand with IHCL taking full operational control of the property, managing the day to day operations.

EIH Ltd announced two new resorts in Rishikesh in partnership with the Ladhani Group as part of its expansion plans. Oberoi Group’s EIH owns and operates resorts and hotels under the Oberoi and Trident brands. The first property will be an 80 key luxury Oberoi Resort that will carry the ‘vilas’ name as part of the branding. The second will be a 120 key five star hotel with the Trident branding. Both hotels will be managed by EIH Ltd. Construction is expected to begin in early 2026.

Hualien, Taiwan’s historic Antong Hotel will undergo restoration to preserve its rich heritage and ensure its sustainable operation. The hotel was registered as a historic building in 2004 by the Hualien government. Third generation operator Lien Hsiang-yuan aims to restore the hotel to its former 1930s splendor. It is a rare example of hot spring hotels from Taiwan’s colonial period.

PK’s Jungle Village, a unique property in Australia, the only one known globally to touch two world heritage sites – the Daintree Rainforest and The Great Barrier Reef, has come to the market. The seven acre property is located in the Daintree Rainforest in Queensland. The property is a famous destination for eco-tourists and backpackers. The property is being offered as a Private Treaty sale, with significant potential for development. The property has 46 cabins and a 226 room guest accommodation, PK’s Jungle Village is also being sold with additional business inclusions including the only tavern in the area and a full hotel license. Price feedback has been north of $5 million.

Singapore-based Black Group Investment Holding is investing S$100 million to develop a state of the art medical and hospitality facility in Kuala Lumpur’s Golden Triangle, with operations targeted to begin in September. The facility right now is being called “Meditel” and will integrate luxury hospitality with specialized medical services such as anti-aging treatments, regenerative medicine and cell therapy. The project involves acquiring a commercial property initially intended for high-end serviced apartments, which will be repurposed into a medical hotel. Earlier this year, Black Group acquired Black Diamond Asset Management Sdn Bhd, a Malaysian firm with expertise in the local property market, as part of its expansion strategy in Malaysia.

TUI Group unveiled its 20th hotel in Asia, the TUI BLUE Guilin Watermark Promenade in Guilin, China. TUI plans to grow its hotel portfolio from the existing 433 to 600 hotels in the coming years. The 5 star TUI BLUE Guilin Watermark Promenade hotel offers 59 rooms with the hotel located along the Li River. An expansion is already in the works to add 61 additional rooms to open in the coming months. TUI is looking to open more hotels this year, including new properties in China and Vietnam as well as a debut in Cambodia.

Bloomberg reported that creditors of OYO, including Mizuho Financial Group, are pressuring founder Ritesh Agarwal to settle a $383 million loan if he cannot get OYO to complete an IPO by October. If the long-awaited IPO is launched, they will give Agarwal an extension until 2027 to pay back the money that was lent to him. The full $2.2 billion loan was granted to him in 2019, restructured in 2022 but he still has not repaid the first tranche. Agarwal’s family office called the reports “completely incorrect” and labeled them as speculation and rumor mongering.

Personnel Move

Sarovar Hotels announced the appointment of Nitika Khanna as Director of Marketing & Communications. She previously worked with brands such as Yatra, FCB ULKA, Euro RSCG, UTV and ORG-Marg.