Copthorne

The Philippines aims for 7.7 million tourists in 2024 despite challenges, with South Korea as the top source market and a significant increase in visitor receipts this year.

Pebblebrook Hotel Trust increased their 2024 EBITDA and AFFO outlook despite reducing their RevPAR outlook, anticipating a stronger 2025.

China introduces new measures to enhance travel flexibility and document processing for mainland citizens visiting Macau and Hong Kong, effective May 6.

China hotel RevPAR increased by 27.9% year over year and by 13.7% when compared to 2019. Japan experienced a resurgence in inbound tourism, with GCC countries leading the way, and June 2023 saw 72% of the visitor numbers compared to June 2019. Several hotels, including W Sydney , W Macao Studio City , and The Grand Copthorne Waterfront Hotel , have announced openings and renovations to cater to the recovering travel demand. Additionally, CapitaLand Ascott Trust signed a Memorandum of Understanding for acquiring lodging assets in the UK, Ireland, and Indonesia.