Conrad Hotels & Resorts

Asia-Pacific

ITC Shareholders Okay Hotel Spin-Off

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

Maldives Saw Resort Revenue Drop in 2023

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.
North America

Hilton’s New Partnership With Small Luxury Hotels of the World

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.
Asia-Pacific

Oyo Said to Seek $400 Million Fundraise

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round for OYO Hotels & Homes Pvt.
North America

U.S. Hotels See Best Rates and Occupancy Since 2019

The DJIA ended Friday with a gain of 395 points, while NASDAQ was up 255, the S&P 500 rose 59 points and the 10-year treasury yield ticked up a little to 4.15%. Lodging stocks were mostly…
Asia-Pacific

Nomura Predicts Chinese Tourism Level for 2024

Nomura reports that China’s outbound tourism faces significant recovery challenges through 2024-2025, due to eased supply constraints but hampered by economic issues and reduced consumer demand, with a forecasted recovery to 73% of 2019’s travel levels by year-end.
North America

Four Seasons Hotel and Condos Coming to Telluride

STR reported US lodging data for the week ended December 30. RevPAR was down -9.7% led by a -7.1% decline in occupancy. Speculators are questioning whether everyone is thinking the Fed is going to cut interest rates more than they really will. Real estate developers  Fort Partners and Merrimac Ventures  are building a  Four Seasons  hotel and condo resort in  Telluride, Colorado .