Hyatt Reports Double-Digit Growth in India

Thailand's average hotel occupancy rate in September contracted by -7 percentage points month on month. The Thai Hotels Association blamed the flood situation and a decline in foreign arrivals during the low tourism season. The THA's survey of 88 operators revealed an average occupancy rate of 55% in September, down from 62% in August. In 2019, the occupancy rate in September was 63.4%. The THA said 3-star and lower hotels had an average occupancy of only 44.9% in September, while 4-star and higher averaged 58.7%. Hotels in the North saw the biggest drop in occupancy, from 50% in August to 25.7% in September, due to the ongoing flood situation in several provinces. Hotels in the Central region reported the highest occupancy rate of 64.4%, followed by those in the Eastern region at 57.1%. The THA said 35% of the respondents said they planned to hike room prices during the high season at year-end. The THA estimates October occupancy will be 55.6% and the total hotel customer numbers in the fourth quarter of 2024 will increase by 5%-10% year on year.

Marriott International announced it signed an agreement with Shum Yip Holdings Company Limited to introduce The Luxury Collection and AC Hotels by Marriottto Shenzhen, a coastal city in southern China. The Luxury Collection Hotel in Shenzhen and AC Hotel by Marriott Shenzhen North Station are expected to open in November 2028. Both hotels are 35 kilometers from Shenzhen Bao'an International Airport. The Luxury Collection Hotel will blend contemporary elegance with Chinese cultural elements across its 173 guest rooms and suites. It will have an all-day dining restaurant, a Chinese restaurant, and a Lobby Lounge. Recreational facilities will include an indoor and outdoor pool, fitness center and for personal and business events. There will be conference and event facilities totaling 1,600 square meters, including a ballroom, junior ballroom and four meeting rooms. The AC Hotel by Marriott Shenzhen will have 207 guest rooms and suites, an all-day dining restaurant, an AC lounge, and a 24-hour AC store. The hotel will share the conference and events facilities with the Luxury Collection hotel.

Hyatt Hotels said they are witnessing double-digit growth in India on the back of strong domestic demand and an increase in the MICE segment. Some have said Hyatt has not kept pace with the other international hotel chains in terms of expansion in the country but Hyatt said they are not aiming to become the largest chain in India but wants to focus on 'experiential luxury' and 'strategic expansion'. They unveiled the Grand Showroom at Grand Hyatt Mumbai, a 40,000-square-foot venue that is part of the renovations at the hotel. Hyatt's RevPAR in India was up 13% year on year in the first half of 2024, with segments such as weddings up 25%. Hyatt currently has 52 hotels in India covering over 10,000 keys and is targeting a 100-hotel portfolio in the next five to six years. Hyatt wants to open 8-10 hotels every year in India.

Alliance Global Group said they are planning to infuse US$300 million into a casino to be built in Boracay, to be part of Megaworld's Boracay Newcoast Township. Alliance Global said their Boracay Newcoast Resorts Inc. subsidiary would undertake it and will be smaller in size than its Newport World Resortsintegrated casino resort.

Minor Hotels, in collaboration with Boulevard Hotel Company Limited, announced the grand opening of NH Bangkok Sukhumvit Boulevard, the first NH Hotels & Resorts property to debut in the capital of Thailand. The 315-room hotel is 200 meters from the BTS SkyTrain, a 30-minute drive from both Suvarnabhumi International Airport and Don Mueang International Airport. The hotel boasts enhanced guest rooms, lobby spaces, restaurant and pool areas. The refreshed accommodations include a mix of standard and deluxe rooms, along with suites spread across two buildings. Amenities include an all day dining restaurant, lobby and pool bars, meeting facilities, fitness center and an outdoor pool.

Dusit Hotels and Resorts, under Dusit International, announced its return to India with the anticipated soft opening of dusitD2 Fagu. The retreat is set amidst the serene mountains of Fagu, near Shimla, and is scheduled to open its doors in December 2024. The property will feature 80 guest rooms, ranging from 38 square meters to 86 square meters, located just 80 minutes from Shimla Airport. The hotel will feature Namm's Thai authentic Spa, the city's largest temperature-controlled swimming pool, versatile function spaces including the largest banquet and terrace lawn in the area, an Amphitheater, all-day dining at Dusit Gourmet, SOI and Fagu-The Destination Bar for food and beverage options.

In India, The Leela announced the opening of Arq by The Leela, which it described as an exclusive collection of ultra-luxury villa spaces designed as the ultimate escape for discerning elite from around the world. Arq by The Leela is a collection of ultra-luxury villas, nestled along the serene shores of Lake Pichola. The unveiling of Arq by The Leela in Udaipur is the first in a series of spaces under the Arq by The Leela name that will be introduced across The Leela's portfolio.

A new tower planned for South Brisbane in Australia will have a rooftop deck and restaurant and help deliver part of the 3000+ luxury hotel rooms the city needs by 2033. Plans have been lodged with the Brisbane City Council for a new five-star hotel with a rooftop deck and restaurant, wellness floor and laneway precinct between two busy streets. Brisbane officials need the five-star accommodations for the expected demand for the Brisbane 20232 Olympic and Paralympic Games. The new hotel will have 137 rooms and be operated by Accor's Novotel.

Crown Resorts has officially sold the One Queensbridge development site in Melbourne, Australia for A$85 million as part of a strategic move by private equity owner Blackstone Group to aid liquidity to fund losses. The sale was finalized in August and is the location where Crown previously planned at A$1.75 billion, 90-floor hotel and apartment complex, set to be Melbourne's largest tower. Development plans were shelved in 2019. Crown recently sold its 20% stake in restaurant chain Nobu, and the Australian Financial Review reported that it is exploring the sale of its prestigious Melbourne gold club and high-end Aspinall's Club in London.