China's Hotel Pipeline at Q3 2024
China's hotel construction pipeline reached 3,853 projects with 703,312 rooms in Q3 2024, showing steady growth, with significant openings forecast for 2025 and 2026.
Alan Woinski
Alan is the founder of the Daily Lodging Report, now owned by Skift, and remains editor. He also founded the Gaming Industry Daily Report and Gaming Industry Weekly Report which remains under the ownership of Gaming USA Corporation, owned by Alan and his wife Kim. Alan and Kim recently moved from Bergen County, NJ to Southwest, Florida and are loving the SWFL lifestyle. Both Alan and Kim recently became grandparents for the first time to a beautiful baby girl.
Design Hotels Announces 10% Global Portfolio Growth
Design Hotels reported 10% portfolio growth, highlighted by new agreements including new Firmdale properties, and expansion with Grupo Habita, Drift Hotels, and ASH.
Asia-Pacific Hotel Pipeline Hits a Record High
Hotel construction in the Asia-Pacific region (excluding China) reached record highs in Q3 2024, with India, Vietnam, and Thailand leading the market, and a robust forecast for new openings through 2026.
Park Hotels Reveals Impact of Labor and Weather Events
Park Hotels reinstated 2024 earnings guidance noting labor strikes and hurricanes disrupting operations, and announced a 4Q dividend of $0.60-$0.66 per share, yielding about 9.6%.
Vietnam Sees 41% YoY International Visitor Bump Over First 10 Months
Vietnam’s tourism sector saw a 41% year-over-year increase with over 14.1 million international visitors in the first 10 months of 2024, driven largely by air travel and arrivals from Asian markets.
Global Hotel Transactions Reach $42 Billion Q3
Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.
Earnings Day for Host Hotels, RLJ, Xenia and More
Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.
Marina Bay Sands Completes Latest Phase of Reinvestment Plan
Marina Bay Sands in Singapore launched a new brand vision, "Above Beyond," as part of a $1.75 billion transformation to elevate its hospitality, including revamped suites, expanded butler services, and upgraded facilities across its three hotel towers.
Mandarin Oriental Plans Miami Project
Mandarin Oriental Hotel Group is expanding in Miami with a new Brickell Key project, adding projects in Mexico and Grand Cayman.
Oberoi Group Family Drama Continues
The Oberoi family is embroiled in a legal dispute over the hotel company’s board and inheritance, with Anastasia Oberoi challenging her step-siblings over a contested will from 2021.