Sono International Submits Preliminary IPO Application

Key Points

• PATA forecasts Asia Pacific international arrivals rising to 789.2 million by 2028 (115.6% of 2019 levels), with Vietnam (+31.2%), Macau, and Japan leading growth among the 10 largest destinations and Mongolia showing the strongest recovery at 177.8% of 2019.
• Capital markets are active: OYO parent Prism refiled its IPO with Agarwal, SoftBank, and Microsoft no longer selling shares (SVF and Agarwal hold 70.56% pre-issue), while South Korea's Sono International filed a preliminary IPO application and targets 55 overseas properties by 2029.
• A broad development pipeline is expanding regional supply, including Hilton's NoMad APAC debut in Singapore (late 2026), Dusit's first Dusit Collection hotel in Japan, DMCI's Solmera Beach Park Resort in the Philippines (2027), Omaxe's Rs 6,200 crore plan for 19 Indian hotels, and Fern's new Marriott Series property in Ahmedabad.

Summary

A new PATA Asia Pacific Visitor Forecasts report projects strong, sustained growth in international arrivals across the region, reaching 789.2 million by 2028—115.6% of 2019 levels—with Vietnam, Macau, and Japan leading growth among major destinations and Mongolia posting the highest pandemic recovery rate. Alongside these macro forecasts, the article highlights significant corporate and development activity: Macau's urban planning amendment reinforces its 'World Centre of Tourism and Leisure' ambitions; OYO parent Prism and South Korea's Sono International are advancing IPOs; and a wave of hospitality expansion is underway, including Hilton's NoMad debut in Asia Pacific (Singapore, 2026), Dusit's first Dusit Collection hotel in Japan, DMCI's new beachfront resort in the Philippines, Omaxe's Rs 6,200 crore plan for 19 hotels in India, and Fern Hotels' new Marriott-affiliated property in Gujarat.