Melbourne Hotels See Lift From Major Concerts

STR reported China hotel data for the week ended November 9. China hotel RevPAR was down -3.5% year over year, up against a +50% comp in the year ago week. ADR was down -4.6% for the week on a year-over-year basis, while occupancy was up +1.2%.

CoStar/STR said Melbourne, Australia reported strong hotel performance in October, lifted by multiple concerts by Olivia Rodrigo and Coldplay. Occupancy was up 4.5% to 75.3%, and the average daily rate was up 4.2% to A$221.36, resulting in RevPAR growth of 8.9% to A$166.61. According to the preliminary numbers, the night before Olivia Rodrigo’s third concert on October 12 was the biggest day, with ADR ($A276.56_ and RevPAR (A$236.88) hitting the highest point.

The Melbourne Marathon took place the day after that concert, so that also contributed to the strong result. The highest occupancy levels of 86.8% and 88.9% were on October 22-23, the second and third days of Melbourne Fashion Week.

The Macao Government Tourism Office said over 90% of the rooms in Macau hotels are booked with the Grand Prix approaching. The MGTO has predicted that the four-day Macau Grand Prix will attract over 400,000 people. The event runs from today until Sunday, November 17th.

Accor announced 27 new hotel agreements with 8,117 rooms added to its portfolio across Asia since the start of the year. The growth spans 12 distinct brands across eight countries, ranging from India to South Korea and Japan. Central to Accor’s strategy are its premium, mid-scale and economy segments, with established brands like Novotel and ibis while the premium sector is seeing a surge, led by brands such as Pullman and Movenpick. Conversion-friendly brands like Mercure, Handwritten Collection and ibis Styles are said to be particularly appealing in Asia for their potential to quickly transform independent hotels into part of the Accor network. Accor operates 495 hotels with 110,647 rooms across 19 brands in 13 Asian countries with over 239 hotels in the development pipeline. Vietnam‘s market included 10 new signings, the most of any region.

EIH Limited, the parent company of Oberoi Hotels, said it plans to open 20 properties by 2029, nine of which would be in international destinations. Eight of the hotels will be opening in destinations that include Egypt, Bhutan, Nepal, and Saudi Arabia. The 20 properties in the pipeline will include 17 hotels, two luxury boats, and a Nile Cruiser, with a total inventory of 1,350 keys. Nine of the hotels will be owned, invested in, and operated directly or through a joint venture by EIH Limited, while 11 properties, including the two luxury boats and the Nile cruiser, will be managed by the Oberoi Group. The two boats, a Nile Cruiser, and 13 hotels will operate under the Oberoi brand, and four hotels will be under the Trident brand.

Marriott International and SAMHI Hotels announced they signed a deal to develop three new properties comprising more than 568 rooms across India. The projects with SAMHI Hotels comprise the W Hyderabad Hitec City, Bengaluru Whitefield, A Tribute Portfolio Hotel and The Westin Bengaluru Whitefield. The properties are expected to open during 2026-2028.

Tokyo-based Loadstar Capital K.K. has a deal in place to acquire three hotels in Greater Tokyo. The hotels acquired include two in Tokyo, the first in Meguro City, the second in Taito City, along with one in Kawasaki City. The names and room counts of the hotels were not specified. The price tag is said to be US$37.7 million for the hotels, with the transaction settlement date scheduled for November 26. This follows Loadstar acquiring six luxury resort hotels from Hiramatsu Hotels & Resorts and NTT Urban Development Corp in March. The weakened yen and influx of inbound tourism have fueled hotel investment among domestic and international investors throughout Japan in 2024.

Absolute Hotel Services announced a new partnership with Manignom Auto Group Company Limited, bringing their fourth property to the landscapes of Laos. The upcoming U Vang Vieng hotel will be set along the banks of the Song River in the heart of Vang Vieng‘s natural beauty. The 60-key hotel is expected to be completed in 2028, offering spacious rooms, a food and beverage outlet, a modern fitness center, swimming pool and more.

The Ascott Limited, a fully owned lodging division of CapitaLand Investment, formed a strategic alliance with Vlasta – Sam Son to manage Lasong Hotels & Villas Sam Son. The partnership will introduce The Unlimited Collection brand for the first time in Thanh Hoa province, marking Ascott’s second property under this brand in Vietnam. The agreement also enhances the collaboration between Ascott and Van Phu Invest, the owner of the Vlasta – Sam Son complex, expanding on the successful management by Ascott of Oakwood Residence Hanoi, another Van Phu Invest property. Lasong Hotel & Villas Sam Son by The Unlimited Collection will be developed in two stages. Phase 1 is set to open on April 1, 2025, and will have 68 individually designed rooms and 20 exclusive villas in Zone 1 of the Vlasta – Sam Son project. Phase 2 is scheduled to be complete by May 2025 and will add 198 luxurious units in Zone 2. Resort amenities include all-day dining, a café and bar, spa, fitness center, indoor pools, meeting spaces and a wellness center with a sauna.

Star Hotels, a division of Star Group, expanded its holdings in Queensland with the purchase of the Rydges Gold Coast Airport Hotel. CBRE Hotels managed the transaction through an exclusive, invitation-only sale campaign. This is Star Hotels’ second hospitality investment on the Gold Coast, with the Star Group portfolio now including 50 licensed venues, over 115 retail liquor stores, and six accommodation venues across Queensland. The Rydges Hotel they are buying is seven stories, and features 192 guest rooms and suites along with the Runway Italian Restaurant, the Salty Fox Rooftop Bar, 10 conference and event spaces, a swimming pool, gym and ample parking.