Conrad Hotels & Resorts

MCR secured $300 million in refinancing for a 22-hotel portfolio spanning 14 states, replacing $280 million in prior debt through a CMBS transaction with J.P. Morgan and BMO Capital Markets as co-leads.

Hilton plans to significantly expand its luxury hotel portfolio in Asia Pacific, aiming to surpass 150 properties by partnering with Small Luxury Hotels of the World and introducing new luxury brands to the market.

Hilton is rapidly expanding in China, opening its 700th hotel and targeting 100 new hotels annually, with plans to potentially open one every two days.

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.

Hilton announced the signing of 11 new properties in Thailand, Indonesia, and Vietnam, including the debut of the Tapestry Collection by Hilton in Southeast Asia.

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

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.

Cambodia's tourism, rebounding to 82.5% of 2019 levels in 2023, aims to boost Chinese visitation, focusing on initiatives including potential mutual visa-free policies and increased flights.

Hilton and Small Luxury Hotels of the World announced an exclusive strategic partnership that will welcome Hilton guests to hundreds of independently minded luxury hotels in the most sought-after destinations around the world.

Taiwan’s travel industry expects inbound tourism to recover, with five new luxury hotels opening this first half of 2024.