CapitaLand Investment

Melbourne's hotel performance in October surged due to concerts by Olivia Rodrigo and Coldplay, the Melbourne Marathon, and Melbourne Fashion Week, with occupancy, ADR, and RevPAR reaching record highs.

Ascott and Jin Jiang Hotels have formed a joint venture to expand their apartment hotel brands in China, aiming to grow Quest and Tulip LODJ across upscale and midscale segments.

Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.

The 2024 Philippines Accommodation Pipeline Report reveals 158 accommodation projects with 40,084 rooms in development, with Luzon leading, followed by Visayas and Mindanao, which is noted as an underserved market.

Vietnam's hotel industry is struggling due to slow tourism recovery, oversupply, and poor planning, despite near pre-pandemic room rates and increased interest in lifestyle and focused service hotels.

Fitch Ratings revised its 2024 outlook for APAC lodging to improving from neutral due to robust recovery in travel and RevPAR in 1Q24, anticipating strong rebound in China's outbound tourism to support overall APAC hotel occupancy and growth.

The Ritz-Carlton brand will make its debut on Mexico's Caribbean coast with The Ritz-Carlton Residences, Riviera Maya, featuring 127 residences, with sales and construction starting this year and the first phase debuting in 2026.

Malaysian budget hotel owners are raising room rates due to increasing operational costs and taxes, amidst pressures from unlicensed accommodations.

The Maldivian tourism sector experienced a significant revenue decline last year, with resort revenue dropping by $529 million and total tourism revenue decreasing from $5.4 billion to $5 billion, attributed partly to a shift towards guesthouses over traditional resorts.

Hyatt aims to expand its presence in China's economy and midscale hotel segments, leveraging local partnerships and focusing on second and third-tier cities.