Away

Hilton will increase investment in China, continuing rapid expansion as their fastest-growing international market with 671 hotels and a strong pipeline of new properties.

Phuket's hotel market saw strong growth in the first half of 2023, driven by increased flight volumes, with Russia and China as top tourism markets, and higher room rates post-pandemic. Accor anticipates a surge in hotel conversions due to stricter lending rules, leading to more independent Thai hotel owners seeking franchising, rebranding, or conversion opportunities. Macau plans to invest in attracting foreign tourists but faces challenges due to airport expansion. Wyndham opens its first Wyndham Grand hotel in South Korea, and S Hotels and Resorts launches SO/Maldives in the CROSSROADS Maldives.

The number of international tourists to Cambodia  is expected to reach the pre-Covid-19 pandemic level in 2026. Indian Hotels  and other hospitality firms in India have said they are eyeing price rate hikes. IHCL recently went back on that, saying the price hikes will have to wait until November. Hyatt Hotels Corp  announced the opening of Hyatt Centric Sector 17 Chandigarh, marking the debut of the Hyatt Centric brand there.

Vietnam’s tourism sector  is forecast to record US$11.1 billion in revenue in 2024, which would  exceed the 2019 tourism revenue number  of US$10.8 billion. Hotelivate said Tier-III cities with resort locations in India have seen the strongest recovery amid a rebound in leisure tourism. Accor is expanding its presence in the Philippines  with the signing of two new properties in Clark City.