Wyndham Leads Asia Branded Residences

C9 Hotelworks said they expect more developers to shift their focus to branded residences in the Philippines due to their increasing market potential and the underwhelming performance of mid-market condominiums. The Philippines has the second-highest market share of branded residences in Asia at 17.3%, trailing only Thailand at 23.3%. Leechiu Property Consultants said developers will likely work on branded residence projects to appeal to the high-net-worth market. C9 Hotelworks believes more luxury villas and larger condo units will dominate the branded residences market. They see Bonifacio Global City, Cavite, Bohol, and Palawan as ripe markets for branded residences. As of December 2024, the Philippines recorded 13,276 units of branded residences across 16 properties valued at $4,326 per square meter. Asia's total branded residence sector has a supply value of $26.6 billion, comprising 68,001 units in total, with 30,461 in urban areas and 37,540 in resorts. Around 96% of branded residences in Asia are condos, while 4% are villas. 12,330 units across 80 developments in the region are affiliated with luxury hotel brands, representing 31% of the total supply in the primary market. By total supply, Wyndham Hotels & Resorts led with 10,941 units. C9 said from 2025 onward, about 43,100 units across 180 projects in Asia are expected to be completed.

Signum Hotels and Resorts has partnered with Wyndham Hotels to operate hotels under Wyndham's Trademark Collection in India, the United Kingdom, and the United Arab Emirates. The collaboration aims to add 5,000 keys over the next five years. The properties will join under the Trademark Collection by Wyndham and be managed by Signum Hotels.

Thailand's Minor Hotels is entering the Japanese market in a market partnership with Royal Holdings. The Royal Minor Hotels joint venture will be established in Japan next month, with the JV targeting 21 hotels by 2035. Royal Holdings already operates 47 Richmond Hotels in Japan. In a news conference, Minor said they plan to enter Japan with three hotel brands: Anantara, Tivoli, and Avani, with the three covering luxury, semi-luxury, and urban in that order.

Cross Hotels & Resorts said they are expanding their presence in Indonesia with a newly signed hotel management agreement with Geonet Property & Finance Group. The partnership will bring a 120-suite resort to Berawa, Bali, set to open in 2028. The resort is designed as a family-friendly retreat. Guests will have access to a rooftop restaurant and bar, speakeasy lounge, retail, and dining outlets, a lagoon-style saltwater swimming pool, and a dedicated wellness center near Café del Mar, Batu Belig Beach, and Bali's social and entertainment scene.

The long-delayed underperforming Mohegan Inspire Integrated Casino Resort in Incheon, South Korea, is now the INSPIRE Entertainment Resort. Mohegan Gaming has been tossed out of the development as leading lender Bain Capital exercised its acquisition rights for INSPIRE's parent firm, MGE Korea Limited, converting their bonds to equity. Mohegan had commented in their previous quarter's report that they were in default but were engaged in talks with lenders. In the time between reporting their December quarterly results and their conference call, Bain Capital contacted them to say they were taking over and Mohegan could take a hike. Lenders, led by Bain, had demanded repayment acceleration on a $275 million loan. Incheon International Airport Corp said Mohegan had lost its full ownership stake after failing to meet specific loan covenants.

The other troubled casino company, Star Entertainment in Australia, may have found its white knight as U.S. firm Oaktree Capital Management has offered to buy out Star Entertainment's debt with the terms that they are willing to provide a total of A$650 million in two debt facilities with a term of five years. Star warned that while this proposal is not contingent on Star raising additional financing, even if they accept it, they will still require additional funding for the period prior to the proposal being implemented. Once longer-term financing is in place, short-term financing should easily be obtained, even if the terms are not the greatest.

Las Vegas Sands' Marina Bay Sands Pte has obtained a S$12 billion multi-tranche loan to fund the planned expansion of the Marina Bay Sands in Singapore. DBS Group, Malayan Banking Bhd, Overseas-Chinese Banking, and United Overseas Bank were the coordinating banks on the credit facility, which attracted 22 other lenders when it was syndicated. This breaks the old record of S$9.3 billion for a facility, signed in 2012.

Raffles Sentosa Singapore, the country's first all-villa resort, will open on March 1, 2025. Set within 100,000 square meters of tropical greenery on Sentosa Island, the 62-villa resort will offer direct access to Tanjong Beach. Each villa has a private pool and outdoor terrace, blending indoor and outdoor spaces. Raffles Sentosa Spa will be housed in a transformed heritage landmark building, and guests can also enjoy preferential green fees at Sentosa Golf Club, located across from the resort. The Empire Grill is the resort's signature Italian restaurant, one of five restaurants.

ANA InterContinental Tokyo unveiled its transformational 15-month renovation. Redesigned for today's modern luxury traveler, the hotel offers 801 revitalized rooms alongside new dining and social concepts. These include expanding the Club InterContinental Lounge, which now spans two dedicated floors, and the new Genever Lobby Bar, rejuvenated Cascade Café and transformed Atrium Lounge.

Melia Hotels International said it expanded its presence in Vietnam by partnering with BB Group Hospitality to manage Kobi Onsen Resort Hue. This marks the Spanish hotel company's second property in Hue and 20th in Vietnam. The resort will undergo a year-long rebranding process and emerge as Melia Hu Kobi Onsen Resort in 2025. The resort is located near the historic Imperial City and features My An's mineral-rich hot springs. The 155-key resort includes wellness facilities with gender-separated indoor and outdoor onsen baths, a steam bath, a soda bath, a dry sauna, and a Himalayan salt sauna. Accommodations range from 36 square meter rooms to 255 square meter villas with 11 exclusive villas featuring private onsens.