Singapore Leads Way on Room Cost

Bloomberg reported that hotel rooms in Singapore are now the most expensive in almost a decade as the city-state seeks to position itself as the tourism and business destination in Asia. The average hotel room rate in Singapore rose nearly 70% year on year in July to S$259, the highest since September 2021. Visitor arrivals continue to accelerate amid easing Covid-19 restrictions. Visitor arrivals rose for the sixth straight month in July to 726,601, up from 543,773 in June. The next big event will be the Formula One Grand Prix on September 30 to October 2 after a two-year hiatus. The Singapore Tourism Board expects 4 million to 6 million visitors in 2022. The nation saw 1.5 million visitor arrivals in the first half of 2022 with Indonesia, India, Malaysia, Australia and the Philippines as the top five visitor markets, accounting for 56% of Singapore’s total visitor arrivals in the first half.

Radisson Hotel Group said they are aiming to accelerate growth across Thailand. Driven by a dedicated business unit in Bangkok combined with a trusted collection of core brands and recent partnership with Jin Jiang International, they expect their collection of brands ranging from economy to luxury to drive growth. RHG will place a focus on three brands: Park Inn by Radisson, Radisson and Radisson Individuals. Their other brands will also be a big part but their upper midscale, upscale and soft brand is what their strategy was formed around. RHG’s growth in Thailand will be part of their wider APAC Expansion Plan, aiming to achieve a 400% increase in portfolio strength across the Asia Pacific region, reaching 2,000 properties by 2025. Thailand has been identified as one of the five key growth markets, along with India, Vietnam, Australia and New Zealand.

The Tongsai Bay, the first five-star luxury hotel to be built on Koh Samui, has embarked on an innovative refurbishment and development program to celebrate its 35^th anniversary as a luxury eco-haven for global travelers. The first phase is complete with Phase One preserving the environment with the interior décor of rooms and suites using recycled materials for the renovations. New coffee tables and outdoor chairs were made from recycled wood and the headboard is made from artificial rattan. The property has 81 suites and villas, along with generous open areas and balconies. All the rooms offer terraces and the majority have outdoor bathtubs to relax in. All of The Tongsai Bay’s 24 Beach Suites, 2 Cottage Suites, 4 Seafront Cottages and 5 Pool Cottages have benefitted from Phase One.

Bengaluru’s Ritz Carlton Hotel may be up for sale as the hotel’s holding company, NEL Holdings South Ltd., was reported to have failed to repay the Rs 300 crore it owes YES Bank. Mint said YES Bank will take control of the property, which was the first Ritz from Marriott International in Bengaluru.The bank will either sell the hotel to a new buyer or find a suitor when it files the case in the National Company Law Tribunal. The bank had declared the funds owed by NEL Holdings as non-performing assets in 2020. NEL had taken the loan from YES Bank to develop the 281-room hotel. The hotel opened in 2013. Citigroup Property Investors has a 74% stake in NEL Holdings South Ltd.

Indian Hotels announced an agreement with Assam Tourism to set up a hotel at Manas National Park. The memorandum of understanding will result in the construction of a 70-80 room Ginger brand hotel in 3.25 acres of land there. The long-term leases granted to IHCL will have IHCL constructing the hotel by itself or with a partner/investor.

OYO Hotels is aiming to increase its storefronts in the southern states of Karnataka, Kerala, Tamil, Nadu, Andhra Pradesh, Telangana and the Union Territory of Puducherry in India by 500 to 700. They currently operate around 1,350 hotels in the region. The company intends to add around 35 hotels per week in South India. Down South, cities like Bengaluru, Hyderabad and Chennai are among the top 10 business markets for OYO in India. Additionally, Kochi, Visakhapatnam and Pondicherry have emerged as prominent leisure markets in the country. OYO said since January 2022, Bangalore and Hyderabad top the list of most booked OYO hotels in the country besides Delhi.

The iconic Melbourne Marriott Hotel, located on the corner of Exhibition and Lonsdale Streets, is celebrating its 21^st birthday with the unveiling of a $1.1 million lobby refurbishment, including the new M Bar, and the launch of a sophisticated M Club lounge for its most loyal guests. This is the first of a multi-stage refurbishment of the Australian hotel. The ground floor upgrade and new additions have given the 188-room five-star hotel a modern refresh while retaining its famed character. Melbourne Marriott’s M Club is one of the first in Australia, designed to emulate a residential style living room. The focal point of the hotel’s reimagined ground floor is the sleek new M bar that is open to hotel guests and the public.

A new hotel and resort developed by Qatar will be opened in Indonesia in 2024. Indonesia and Qatar are working together in building the upcoming resort, located at Labuan Bajo in the Nusa Tenggara area of eastern Indonesia at the western tip of the island of Flores. This is part of Indonesia’s “10 New Balis” project which identified 10 locations in Indonesia as the next Bali. Labuan Bajo is one of those as is Borobudur Temple in Central Java, Belitung in Sumatra, Mount Bromo in East Java, Lake Toba in North Sumatra, Thousands Islands in Jakarta, Mandalika in West Nusa Tenggara, Wakatobi in Southeast Sulawesi, Tanjung Lesung in Banten and Morotai in North Maluku.

Prosper Group Holdings Ltd. is inviting offers for the Aloft Kuala Lumpur Sentral hotel. Prosper is a company linked to Sarawak tycoon Tan Sri Yee Ming Seng. Prosper purchased the 482-room hotel, managed by Marriott International, in 2016 from Aseana Properties Ltd. Ireka Corp Bhd has a 23% stake in Aseana Properties. The group paid RM418.7 million for the hotel. Sources said Prosper hopes to sell the asset at between RM420 million and RM430 million. Savills Malaysia has been appointed as the exclusive marketing agent to find a buyer. Apart from Aloft there are three other hotels within KL Sentral – Le Meridien, St. Regis and Hilton.

The Tokyo Kabukicho Tower will be Japan’s largest hotel and entertainment complex, home to a cinema, two luxury hotels, a concert venue, entertainment food hall and more. The skyscraper features 48 floors plus five basement levels and a penthouse. The two new luxury hotels will be Hotel Groove Shinjuku from floors 18 to 38 and Bellustar Tokyo on floors 39 through 47. Right below the hotels, on the 17^th floor, is where you will find a restaurant, bar and terrace. Hotel Bellustar Tokyo also has its own restaurant and spa as well as a three story atrium. Tokyo Kabukicho Tower is expected to open in 2023.