India Leads APEC Region in Hotel Development

Key Points

• India leads the Asia-Pacific (excluding China) hotel development pipeline, with 838 projects and 108,775 rooms, outpacing other countries like Vietnam and Thailand.
• The region is seeing significant hotel openings, renovations, and acquisitions, including major moves by Marriott, Ritz-Carlton, and Pan Pacific, plus new luxury developments in Australia and the Maldives.
• Vietnam's inbound tourism rose to 17.2 million visitors in 10 months, with China and South Korea as top source markets, though targets for 2023 remain challenging.

Summary

The article details robust hotel development activity in the Asia-Pacific region (excluding China), with India leading in both projects and rooms. Other countries like Vietnam, Thailand, Japan, and Indonesia follow, and several cities in these countries are major development hubs. The piece also reports on new hotel openings, expansions, and acquisitions, including significant developments in Thailand, Australia, China, and the Maldives. Additionally, Vietnam's international tourism is recovering, led by visitors from China and South Korea, although growth is not yet enough to meet its annual targets. Updates on major hospitality brands like Marriott, Ritz-Carlton, Pan Pacific, and IHG are also included.