Accor

The Royal Thai Government is granting temporary tourist visa exemptions to Chinese and Kazakhstani passport holders from September 25, 2023, to February 29, 2024, to boost tourism revenue. Macao expects a high number of visitors during the upcoming Golden Week, with hotels projected to have near-full occupancy due to the Mid-Autumn Festival and National Day Holiday. Galaxy Macau has opened Andaz Macau, the largest Andaz hotel in the Hyatt brand's portfolio, featuring 700 rooms, artworks, and a direct connection to the Galaxy International Convention Center and Galaxy Arena.

China's hotel industry saw a significant year-over-year increase in RevPAR, up 58.1% compared to a decline in the previous year. Hong Kong's tourism sector experienced a gradual recovery, with August visitor arrivals reaching 84% of pre-pandemic levels. Wharf Hotels introduced Maqo, a new premium lifestyle brand, expanding its portfolio and aligning with its "25 by 2025" growth vision. Maqo's inaugural hotel will be in Changsha, China, and it aims to provide unique, edited experiences for its guests.

Singapore Formula 1 Grand Prix expects lower attendance in 2023 but higher receipts compared to pre-Covid levels, with foreign attendees driving up hotel room rates. Rosewood Hotels & Resorts is expanding into New Zealand, adding three properties to its portfolio in the Oceania region. Mana Hotels expands beyond Rajasthan with a new homestay in Rishikesh, while IHG Hotels & Resorts plans to add more hotels to its Indian portfolio, with a focus on Holiday Inn and Holiday Inn Express brands.

Singapore's August visitation decreased by -7.8% compared to July, with 1.31 million visitors. Total eight-month arrivals remain nearly -30% lower than 2019. Accor SA aims to sign approximately 125 hotel partnership projects in China this year, with plans to introduce the Orient Express brand. Hilton plans to expand its Hilton Garden Inn brand throughout the Asia Pacific region, with a new regional room prototype introduced in Australia and New Zealand.

Marriott is planning a new Residence Inn in Cary, North Carolina, featuring 122 guestrooms, meeting facilities, and various amenities. Hilton has opened Motto by Hilton New York City Times Square, marking the second Motto by Hilton brand in the city and the sixth Motto by Hilton overall. IHG Hotels & Resorts has celebrated the opening of a new Holiday Inn property in South Philadelphia after a $10 million conversion, marking their first IHG-banded property in the area.

Both Thailand and South Korea are implementing strategies to entice Chinese tourists, including visa exemptions, tax refunds, and rewards. Thailand's response comes after a drop in Chinese tourist arrivals, while South Korea offers incentives like visa fee waivers and cultural experiences. The Philippines establishes a Korea Visa Application Center to handle increased visa requests between the two nations. Travel between Korea and the Philippines has surged, showing potential to surpass pre-pandemic levels. Avani Hotel construction begins in Australia, Accor expands its properties with Novotel Living in Vietnam, and Marriott introduces new properties in Bali and Thailand. Deepak Ohri departs from lebua Hotels and Resorts, while Vaibhav Verma becomes Chief Revenue Officer at juSTa Hotels & Resorts. Ms. Thapanee Kiatphaiboon assumes leadership at Thailand's Tourism Authority.

China hotel RevPAR increased by 50.4% YoY, outperforming a 48.2% comparison and growing 19% compared to 2019, driven by strong recovery. Thai hotels, especially those with three stars or less, faced severe impact from interest rate hikes, uncertain tourism outlook, and competition, prompting calls for regulatory changes. New luxury hotels are opening in historic Japanese and Vietnamese destinations, while major hotel chains like Accor and Melia are expanding their portfolios in Singapore and Vietnam. Additionally, Meriton Suites is expanding luxury offerings across Australia.

In Q2 2023, the Asia Pacific hotel construction pipeline reached a record high of 1,936 projects with 401,766 rooms. Luxury, upper upscale, and upscale projects dominated the pipeline. Countries with the largest pipelines are India, Vietnam, Thailand, Indonesia, and Japan. Macau has surpassed Hong Kong as the preferred travel destination for mainland Chinese travelers in 2023, receiving nearly twice as many visitors. Around 50.9% of outbound Chinese travelers chose Macau, while Hong Kong received about 26.7%. Mainland Chinese tourists prefer destinations in East Asia and Southeast Asia. Accor is expanding its hotel offerings. They are introducing the Handwritten Collection in Thailand with the Andaman Beach Hotel Phuket, opening a Mercure hotel in Lucknow, India, and launching Lords Inn hotels in Jamnagar, Gujarat, and Kanki, West Bengal. Accor has also partnered with Reliance Industries and Renest Hotels & Resorts for new properties.

DJIA gained 213 points, Nasdaq increased by 114 points, and S&P 500 rose 28 points; 10-year treasury yield decreased by 0.03 to 4.21%. Lodging stocks surged on Hersha Hospitality buyout news, particularly REITs: HT up 56%, BHR up 16%, AHT up 10%, others up 6% each, while AINC traded down -9%. Hersha Hospitality Trust and KSL Capital Partners will merge in an all-cash deal worth $1.4 billion, where common shareholders receive $10.00 per share and preferred shareholders receive varying amounts based on their holdings. The merger aims to close in Q4 2023, leading to a rally in hotel REIT stocks. Major US and Chinese hotel groups have strengthened post-pandemic, while Europe lags behind. Marriott, Jin Jiang, and Hilton lead the world hotel ranking, with only one European representative (Accor). US has six companies in top 10, China has three, and Spanish companies see shifts in their rankings.

The FIFA Women's World Cup 2023 generated $2.98 billion in travel and retail spending in NSW, boosting the economy and drawing record audiences to hospitality venues. Hilton plans to open 25 new luxury hotels in the Asia Pacific region, including its Waldorf Astoria brand in countries like Malaysia, Vietnam, and India. Hotel Properties received approval for a S$1-2 billion project to redevelop prime properties on Orchard Road. The redevelopment includes twin skyscrapers, retail, office, residential spaces, and a performance theater, making it Orchard Road's largest property redevelopment.