Radisson Drives Asia Pacific Growth Through China and India
Skift Take
Radisson Hotels Group said that it had 130 hotel openings and signings in China this year. Plus, other hotel deal and development news.
JLL’s Asia Hotel and Hospitality Investment unit said Vietnam’s hospitality sector is attracting strong interest, delivering returns of 6-7.5% annually. The hotel industry there is expected to attract US$125 million in investment this year. JLL increased that from the earlier $100 million. Occupancy and RevPAR in Vietnam rose by an average of 21% annually since 2020, with HCMC and Hanoi leading in occupancy due to a diverse mix of corporate and leisure travelers. Projects under construction or being planned for until 2028 are mostly in Hanoi, Da Nang City, and Hoi An, with 33% of new supply in the mid-priced segment. By 2026, an additional 2,800 rooms are expected at 10 new projects, 74% in the five-star segment managed by international brands such as Waldorf Astoria, Mövenpick, Fairmont,and Dusit. As of August, there were 185,000 rooms across 1,500 properties, with the upscale to luxury segment accounting for 57%. Vietnam received 17.2 million foreign tourists in
