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Asia-Pacific
Marriott Expands Into Indonesia’s New Capital
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. -
Asia-Pacific
India’s ITC May Sell Its Hotel Unit
The Philippines Department of Tourism surpasses its tourist arrival target for 2022 and sets a higher goal of 4.8 million tourists for 2023. Banyan Tree Group expands its portfolio with new hotel openings in Vietnam and Japan , along with plans for future properties in various countries. ITC considers demerging its hotels business and exploring alternative business structures after a strong recovery in the industry, with plans for separate listing of the hotel section. -
Asia-Pacific
Banyan Tree to Double by 2025
Banyan Tree Group , closing out the 2022 fiscal year with 63 properties across its global portfolio of 10 hospitality brands, expects to get to 113 hotels by the end of 2025 . Radisson Hotel Group announced the opening of Lewit Hotel Pattaya , a member of Radisson Individuals in the beach resort town of Pattaya. The grand opening of Ember Hotel , a boutique lifestyle hotel located at Khao San Road in Bangkok, Thailand was announced. -
Asia-Pacific
Hong Kong Sees 1 Million Visitors for First Time Since 2019
The Hong Kong Tourism Board announced Hong Kong saw a provisional visitor arrival of 1.462 million in February, three times what arrived in January. Indian Hotels Company announced the opening of Ginger Chennai, OMR in Tamil Nadu in India. The World Trade Center Association and the Merlin Group have partnered to develop a World Trade Center in the Nabadiganta Industrial Township Authority area, Salt Lake, West Bengal. -
North America
Hotel Winners and Losers in RevPAR Rankings
Lodging stocks were mixed but the big movers were all to the downside. SLNA traded down another -7% to another all-time low. VCSA and MCG were both down -6%. Service Properties Trust kept its positive momentum going, reporting a 159% increase in normalized FFO in 4Q22. Xenia Hotels & Resorts reported 4Q results slightly ahead of expectations but gave a mixed 2023 outlook. -
Asia-Pacific
Asian Hotels Begin to See Chinese Tourists Returning
UNWTO’s forward-looking scenarios for 2023 suggests global international tourist arrivals could reach 80%-95% of pre-pandemic levels this year. Cambodia is expecting to receive up to four million international tourists this year, accelerated by China announcing its reopening policy. 2022 brought some 2.28 million international tourists to Cambodia with China making up only 106,000 of them. The Macau Hotel Association warned that local hotels may need to cap their maximum guest capacity at 70% to 89% during the Lunar New Year holiday period due to a shortage of staff in operations. -
Asia-Pacific
Goldman Sachs Suggests China Should Keep Zero-Covid Policy
Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. Some 39 buildings of the No.2 Island of the Ocean Flower Island , an artificial archipelago in Danzhou , South China’s Hainan Province developed by China’s debt-ridden Evergrande Group will be repurposed. Vietnam’s second-biggest listed developer, No Va Land , is firing staff and seeking urgent asset sales. -
Asia-Pacific
China Likely to Keep Zero-Covid Strategy in Place
STR reported China hotel data for the week ending 10/8. China hotel RevPAR was down -16.5% year over year (Golden Week). When compared with the same week in 2019, RevPAR was down -12.7%. People’s Daily , considered the Communist Party’s way of getting the message out to the Chinese, said China should stick with its zero-Covid strategy . Hyatt Place Huangshan Train Station , the first Hyatt-branded hotel in Huangshan, is officially open. -
Asia-Pacific
Amen Receives $900m Investment to Expand
Sterling Holiday Resorts , a subsidiary of Thomas Cook , said they will double its pan-India inventory to 5,000 rooms in the next three years. Saudi Arabia’s Public Investment Fund and Cain International have invested $900 million in Aman Group to help accelerate the global expansion of the company. The City of Dreams Manila integrated resort welcomed Singapore’s famous restaurant brand TungLok Signatures to Manila, Philippines. -
Asia-Pacific
Hong Kong Will Ease Quarantine on International Arrivals
Hong Kong announced plans to further ease its arrivals quarantine requirements . More than 50 luxury hotels are set to open in Jakarta and Bangkok within the next five years , highlighting the expectations of a strong economic recovery. Accor is teaming up with PT. Mega Hotel Lestari in introducing the first ibis Styles in Semarang in Indonesia .