Centara Hotels & Resorts

Schloss Bangalore, owner of The Leela hotel chain, has filed for a US$599 million IPO to fund expansion and debt repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi managing the issue.

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.

EIH Ltd plans to build new hotels in Pune and London, while facing a legal family dispute over the company.

Indonesia has imposed a moratorium on hotel and nightclub construction in Bali to curb overdevelopment and protect the island’s culture and environment.

The Hotel Management Contract Survey 2024 by JLL and Baker McKenzie found that the average term of hotel management agreements in Asia Pacific increased to 17.4 years, with varying durations by market, declining base fees, rising sales and marketing fees, and a growing focus on performance-based incentive fees and termination provisions.

The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.

Fitch Ratings projects China outbound tourism to the Asia Pacific region will recover to 86% of pre-Covid levels in 2024, with full APAC tourism recovery expected by the first half of 2025.

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.

Centara Hotels & Resorts announced its expansion plans at ITB Berlin. Their sustainable strategy is to introduce its style of family-centric hospitality to multiple new markets, striving to become one of the planet’s top 100 hotel operators by 2027.

Radisson signed a deal to expand in Cambodia and announced even larger growth on its own across India.