Prestige Hospitality Receives Approval for Public Offering
Skift Take
Prestige Hospitality Ventures Limited received the Securities and Exchange Board of India's approval for its initial public offering. And more hotel and development news from Asia Pacific.
STR reported China hotel data for the week ended August 2nd. China hotel RevPAR was down 4.3% year-over-year. The week was up against what should have been an easy comp, as the year-ago week's RevPAR was down 11.1%. For the 2025 week, ADR was down 0.7% year-over-year, while the bulk of the decline was due to occupancy declining by 3.6%.
The South Korean government plans to trial a visa-free entry policy for Chinese group tourists from September 29, 2025, to June 30, 2026. This follows the Chinese government’s decision to implement a trial visa-free entry policy for South Korean tourists starting last November. South Korea had 16.37 million overseas visitors last year, with the Chinese making up 28% of that. In the first quarter of 2025, 4.3 million visitors entered South Korea, with mainland Chinese tourists accounting for nearly 25%.
Vietnam saw a near 25% increase in international tourist arrivals in the first seven months of the year
