Oyo Parent Rebrands as Prism Ahead of Public Listing
Skift Take
Oravel Stays, the parent company of Oyo, announced a new corporate identity, Prism. And other hotel industry news.
STR/CoStar reported China hotel data for the week ended August 30th. China Hotel RevPAR was down 6.9% for the week, year-over-year, up against an increase of 8.3% comp in the year-ago week. ADR was down 5.7% for the week on a year-over-year basis, while occupancy was down 1.3%.
Thailand has officially confirmed Bhumjaithai Party leader Anutin Charnvirakul as its 32nd Prime Minister. He is an outspoken critic of the previous administration’s push to legalize Integrated Casino Resorts, and that could be very important for tourism. Charnvirakul was all over the fact that Chinese President Xi Jinping had warned the former Prime Minister numerous times that if she insisted on moving forward with the casino IR plans, visitation to Thailand by the Chinese would suffer. Much of Thailand’s weakness in tourism is due to a decline in Chinese visitation. The hope is that an anti-casino PM could smooth over things with President Xi and help Chinese visitation recover.
