Bulgari Hotels & Resorts

Tour groups from mainland China to 20 countries have restarted, 11 of which are in Asia Pacific. Meanwhile, in China , hotels and restaurants are frantically searching for employees. During the first six days of work after China’s Lunar New Year holiday, job openings in the hotel and catering sectors surged 40% from the same period a year earlier. Colliers Philippines said the average hotel occupancy rate in Metro Manila is expected to further increase to over 60% this year, driven by a higher number of domestic and foreign travelers.

Morgan Stanley cut their rating on Airbnb to Underweight from Equal Weight, slashing its target price to $80 from $100. Marriott International announced plans to introduce more than 35 luxury hotels in 2023 to its portfolio of luxury brands. STR reported US lodging data for the week ended 12/3. Hotel RevPAR was up 11.7% year over year while up 1.2% versus 2019.

Marriott International  announced it expects to open  14 additional luxury properties   in Asia Pacific by the end of 2023 . Marriott currently operates 156 luxury properties in the region. Construction of the long-awaited resort at  Kalgoorlie Golf Course  in the city of  Kalgoorlie-Boulder  in  Australia  has finally begun. PT Platnet Properindo Jaya Tbk will initiate the operation of Citi Hub Hotel, Kelapa Gading in Indonesia in 2023.