Banyan Tree

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.

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.

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.

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 .