Aman Group

In 2023, the Taj brand strengthened its presence in key metro and commercial cities, including Delhi, Cochin, Dhaka, and Bhutan. Vivanta and SeleQtions collectively added 17 hotels while Ginger signed agreements for six new hotels.

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round for OYO Hotels & Homes Pvt.

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city's highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.

Aman Group is launching a new brand, Janu, in Tokyo with its flagship property featuring luxury amenities, including a large wellness center and various dining options. Several hotel management changes and expansions are announced: Rosewood Hotels & Resorts in New Zealand, The Leela Palaces, Hotels and Resorts in Sikkim, India, and Ramee Group of Hotels entering Tamil Nadu, India. New developments and reimaginings in the hospitality industry include Megaworld's new township in Puerto Princesa, Palawan, Townplace West Kowloon in Hong Kong launching a new social club, and SAii Resorts in Thailand undergoing extensive renovations.

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.

China 's hotel RevPAR rose by 22% YoY as of the week ending August 5th, and by 6.7% compared to the same week in 2019. China lifted its ban on group tours to over 70 locations, including countries in Asia Pacific, Europe , Africa , and North America . Notably, group tours to South Korea are resuming for the first time in six years. Indonesia's ONE°15 Marina Nirup Island opened, with phase two set to include a Westin Hotels & Resorts property by Q4 2024.

Stock market performance: DJIA was up 86 points, Nasdaq up 158 points, and S&P 500 rose 33 points, while lodging stocks mostly declined. Wells Fargo raised target prices on lodging stocks, including RHP, APLE, HST , and DHR , maintaining their ratings. Various hotels underwent renovations, including Courtyard Louisville Airport and Chancellor's House Hotel , while new hotels were announced, such as the Hampton Inn & Suites in Pittsburgh and Riversuites in Philadelphia.

Radisson Hotel Group announced the latest phase of their expansion strategy in the Philippines with the signing of a deal with SM Hotels & Conventions Corp. Las Vegas Sands’ Marina Bay Sands in Singapore has completed the renovations on over 850 hotels rooms. Millennium Hotels announced the launch of M Social in Suzhou , the maiden property for the brand in China.

Savills Vietnam issued a report saying despite improvements in 2022, occupancy and room rates in Ho Chi Minh City have yet to recover to pre-pandemic levels . Thai hotel operators are ramping up plans to expand investment at home and abroad according to Nikkei. The huge fire in Hong Kong Thursday night into Friday which received so much attention was the 48 story luxury Kimpton Hong Kong hotel that is under construction in Tsim Sha Tsui .

The DJIA plunged 630 points on Friday while Nasdaq was down 421, the S&P 500fell 105 points and the 10 year treasury yield jumped .06 to 3.88%. Lodging stocks were lower. Data recently released by the National Travel and Tourism Office showed in August, international visitors spent more than $13.7 billion on travel to, and tourism-related activities within, the U.S. Jefferies lowered their price target on  Hersha Hospitality to $12 from $13 and  Sunstone Hotel Investors  to $11 from $12.