India Leads Asia Pacific Hotel Growth

JLL said India is set to lead Asia Pacific's hotel market, claiming 25% of hotel openings in 2024, maintaining the highest number of new openings through 2024. The JLL report showed hotel investments in India have surged, achieving a deal volume of $401 million in 2023, up fourfold from 2022. Greenfield project signings jumped by around 8,000 keys. High net-worth individuals and institutional capital accounted for 31% of these investments, followed by real estate developers at 27% and owner-operators at 11%. India has a record-breaking 25,176 hotel signings and 12,647 new openings in 2023 with Tier-2 cities hosting the majority of the developments. The fourth quarter alone registered 82 hotel signings, representing 8,741 keys.

Indian Hotels Company Ltd said they would expand their luxury portfolio with a new Taj hotel in Chikkamagaluru, Karnataka, in collaboration with Arnaytive Resorts. The Taj Chikkamagaluru is set on 25 acres of landscape and will launch with 160 rooms offering views of the Mullayanagiri Peak. Amenities include an all-day dining restaurant, a specialty dining venue, a stylish bar, and a poolside bar for relaxation. The property will also offer two swimming pools, a fitness center, a J Wellness Circle spa, a kids club, and a library as well as over 5,000 square feet of event space. IHCL will now operate 24 hotels in Karnataka with nine more in development.

Royal Orchid Hotels Ltd announced the signing of a 5-star resort property in the city of Chittorgarh, Rajasthan. This is the company's 11th hotel in Rajasthan and will be branded a Regenta Resort property. Guests will be able to choose from an array of 51 rooms and suites with amenities including a multi-cuisine restaurant, gym, rejuvenating swimming pool and a kids play area. The property will feature banquet space that spans over 6,800 square feet and verdant green lawns. The property signing is part of Royal Orchid's plans in India with hotels across segments ranging from upscale properties to value stays. ROHL will manage the property, which will start welcoming guests in early 2025.

The Singapore outpost of The Standard will open in the fourth quarter of 2024. The Standard, Singapore, is an eight-floor property with 143 rooms in the city-state's prestigious Orange Grove Road. The hotel will feature Kaya, a Japanese izakaya-style bar and restaurant, and on street level, the Café Standard bistro. Hyatt Hotels announced it was acquiring Standard International and the brands within its portfolio, back in August.

The Westin Bora Bora Resort & Spa is now open. The resort recently completed an extensive property-wide renovation and rebrand. The Westin Bora Bora is nestled at the base of Mount Otemanu and has the largest collection of overwater bungalows in Bora Bora, alongside expansive beachside villas. This is being hailed as the first resort to open in Bora Bora since 2017. The resort features 128 overwater bungalows, many with their own private plunge pools. There also are 14 spacious, family-friendly beach bungalows overlooking the lagoon. Amenities offered include the largest swimming pool in Bora Bora, an infinity pool at the heart of the resort bordered by six cabanas facing the beach. There is a swim-up pool bar and waterfall cascading from the second floor into the pool, as well as a private lagoon, diverse culinary experiences and locally-inspired wellness offerings.

Mirah Investment & Development announced the launch of FINNS Bali Resort in Berawa, Bali in a unique collaboration with FINNS Group. The resort will offer an array of lifestyle facilities and amenities, paired with a renovation of the FINNS Recreation Club. The resort will feature 206 rooms and a combination of wellness, sports, recreational and family-friendly facilities with guest packages, including access to beach club venues as well as the upcoming Empire Evening & Day Club. Units at FINNS Bali Resort are available for sale. The details include the resort will have three restaurants, fitness center, wellness center, waterpark, two-story kids club, adults-only pool, spa, co-working space, retail village of 12-15 shops, recovery facilities and a medical center focused on longevity healthcare.

Namia River Retreat, the only five-star villa resort in the heart of Hoi An, Vietnam, is set to welcome guests from December 15th. The resort is located on a tranquil islet overlooking the Thu Bon River. The resort will have 60 spacious villas, each equipped with a private pool. There are culinary and bar options and wellness therapies offered. Namia River Retreat is now a member of the Small Luxury Hotels of the World.

Liquidators have been appointed to some of the businesses connected to the deceased Queenstown hotel owner Kevin Carlin. Carlin Hotel Property Management Limited and Queenstown Views Villas Limited were placed in receivership in February following Carlin's death. Pablo (Aust) Pty Limited, which holds security over the land, buildings and business of the companies, appointed BDO Christchurch as receivers. Carlin Hotel Property Management Ltd. and connected company, Carlin Hotel Ltd, are now in liquidation. The first receiver's report into Queenstown Views Villas Ltd. found company assets valued at A$26 million, the majority being land and buildings. Debts were $30.8 million, with $28.3 million owed to Pablo. The management company reported liabilities of $15 million, with $12.5 million due to Pablo. The Carlin's Boutique Hotel was listed for sale with Colliers.

Lanson Place Parliament Gardens has officially opened its doors, unveiling the brand's first Australian hotel in the heart of Melbourne. The newly launched 5-star boutique hotel is housed in the historic 1901 Salvation Army Printing Worksbuilding, located on Albert Street, East Melbourne. The hotel offers 137 rooms, including studios and one and two-bedroom apartments. There are also two penthouses offering panoramic views of Melbourne's skyline. More that 450 artworks and sculptures are displayed throughout the hotel. The hotel has a 20 meter heated indoor swimming pool and spa, along with a 24-hour Fitness Center. The lobby includes a 40-meter art installation inspired by the native Melaleuca paperbark tree and the Chronicle 502 Bar & Dining.

Personnel Moves

Adrian Cheng Chi-kong is stepping down as New World Development CEO to assume the role of Non-Executive Vice Chairman. New World is also selling the right to provide management services in properties under the K11 brand and related businesses to Adrien Cheng for HK$209 million. New World said their focus will be on property development. New World confirmed that Eric Ma Siu-cheung has been appointed as the new CEO.