Cygnett Hotels & Resorts

TPG Angelo Gordon, in partnership with Kenedix, is purchasing the Grand Nikko Tokyo Daiba hotel from Hulic Co. for $691 million as part of its strategy to invest in opportunistic real estate in Asia.

Golden Week saw a significant boost in tourism in China, with passenger trips and travel orders surpassing pre-pandemic levels, reflecting growing confidence in the economy.

Capella Hotels announced the opening of Capella Kenting, a world-class resort in Southern Taiwan, set for 2028, featuring Taiwan's largest hotel rooms and extensive luxury amenities.

Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand's sixtieth anniversary and the China-France Year of Culture and Tourism.

After the acquisition of Minacia, Star Asia will have an additional 5,100+ rooms from 39 limited service hotels under its management.

Thailand's legislature is considering legalizing casino resorts, anticipating a potential increase of US$12 billion in tourism revenue.

Deutsche Hospitality has undergone a rebranding and is now known as H World International. The strategic move is aimed at bolstering the global expansion efforts of its parent company, H World,

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

China has a hotel construction pipeline of 3,666 projects with 678,965 rooms. Mid-level upscale and upper midscale projects are active. Hilton, IHG, and Marriott lead the franchise companies. Vietnam's luxury hotel supply grew 6.2% in H1 2023, with 235 five-star and 354 four-star hotels. The country served 4.3 million overnight visitors. Accor plans 10+ new hotels in India and supports unbranded hotels with the Cozzet Collection.