Dusit International

Thailand's cabinet extended a waiver on operating fees for hoteliers for two more years to support the tourism sector's recovery from Covid-19.

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

The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.

Seoul plans to develop floating office and hotel buildings with leisure facilities on the Han River by 2030 to enhance the river's potential and attractiveness.

Maybank Securities forecasts significant revenue potential for Thai gambling complexes, but warns of initial profitability challenges and limited tourism industry benefits.

Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline.

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.

Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026.

Malaysia led Southeast Asia in foreign tourist arrivals in 2023 with 26 million visitors, followed by Thailand with 24.6 million. Vietnam attracted 12.6 million foreign tourists, reaching only 70% of pre-pandemic levels, while Cambodia's recovery rate was at 92.48%. Vietnam's National Authority of Tourism set ambitious goals for 2024, aiming to match pre-pandemic tourism levels despite past challenges. The Philippines exceeded its 2023 tourism target, welcoming over five million international tourists and surpassing pre-pandemic international tourism revenue. Dusit Hotels and Resorts opened Dusit Princess Phatthalung in Thailand, its first in the far south of the country. Regal Hotels International announced a partnership with Saudi Arabia's Ministry of Investment to build about 100 hotels globally, with a significant focus on the Middle East.

In China, hotel RevPAR for the week ended December 2nd saw a significant year-over-year increase of 55.6%, contrasting with a -2.6% decline in the previous year. However, compared to the same week in 2019, there was a -7.4% decrease. Marriott International announced the opening of the Courtyard by Marriott Perth, Murdoch in two months. AppleOne Group has started constructing the JW Marriott Panglao Island Resort & Residences in Bohol, Philippines, expected to complete in 2027.