Dusit International

Asia-Pacific

China’s Hotel Pipeline Inches up 3% Year Over Year

Amara Holdings received a voluntary cash offer at 60 cents per share from a consortium linked to Albert Teo, Amara’s CEO, other members of his family, and private equity investor Dymon Asia. In the Q3 2023 China Construction Pipeline Trend Report by Lodging Econometrics , at the end of the quarter, China’s total construction pipeline reached a record high of 3,720 projects with 686,017 rooms, up 3% by projects and unchanged by rooms year-over-year. Dusit International has signed HMA and RMA agreements with Ziogreen Private Limited to manage four properties amidst the beautiful landscapes of Karnataka state, southern India .
Asia-Pacific

Vietnam’s Visitation Rate Is 69% of Pre-Covid Levels

In Vietnam, foreign tourist arrivals for the first nine months of 2023 increased significantly by 4.7 times compared to the previous year, with a 13.4% decrease in September from August. Cambodia witnessed a 251% year-on-year increase in foreign visitors for the first eight months of the year, targeting 4.5 to 5 million arrivals in total for the year. Macau’s visitor arrivals during Golden Week exceeded 150,000 on the third day, with plans for Galaxy Macau Phase 4 to open in 2026 with fewer hotel rooms than initially planned.
Asia-Pacific

China Outbound Tourism to Fully Rebound by Late 2024

The World Travel & Tourism Council predicts that it will take about a year for popular tourist destinations worldwide to see a significant return of Chinese visitors, with challenges like visa and passport difficulties slowing the process. IPK’s survey indicates a strong travel recovery from China, particularly to Europe, in 2024, with around 50% of respondents planning to travel abroad in the next year. Europe is the preferred destination, while travel to the US is less frequent due to limited flight options and geopolitical factors. Dusit International announces the launch of two new hotel brands, Dusit Collection and Devarana – Dusit Retreats, aiming to offer unique and authentic travel experiences and expand into untapped markets. Additionally, Lemon Tree Hotels opens a new property in Haridwar, Uttarakhand, featuring suites and rooms, a restaurant, bar, banquets, and a fitness center.
Asia-Pacific

Dusit Aims to Double Portfolio to 100 Hotels by 2025

HCMC’s hospitality market remained gloomy in H1 2023 due to slow international tourist arrivals. Ascott Limited is refreshing its hotel-in-residence model, catering to varying lengths of stays with hotel services and amenities. Dusit International expands in Japan with Dusit Thani Kyoto and plans massive expansion in China and India .
Asia-Pacific

Philippines’ Largest Hotel Complex, Grand Westside, to Open Tower in 2023

Bloomberry Resorts ‘ new integrated resort in Quezon City , Philippines, Solaire Resort North, is facing further delays, potentially pushing the opening from the first quarter of 2024 to the second quarter. Philippines developer Megaworld is set to open the country’s largest hotel complex, Grand Westside Hotel, in Manila’s Entertainment City, with the first tower opening before the end of the year and the second tower in 2024. Discovery World Corp has opened a five-star resort hotel, Discovery Samal, in Limao, Philippines, featuring 128 hotel suites and extensive facilities, aiming to boost tourist arrivals in the region.
Asia-Pacific

Jakarta Tourism Rebounds to 2018 Levels

Chinese travelers’ spending on travel and tourism within China surged by 95.9% year over year in the first half of the year, with urban residents leading the increase. Jakarta’s hotel industry experienced its highest average daily rate and RevPAR levels since October 2018, with June 2023 occupancy reaching 66.7%. Bali will implement a US$10 tax per foreign holidaymaker starting in 2024, aiming to fund environmental initiatives, cultural preservation, and infrastructure development.
Asia-Pacific

Oyo Valued at $6.5 Billion in Share Sale

H World Group sells one-fifth of its OYO stake, generating 500% return on investment. Dalian Wanda Group seeks to offload assets amid financial challenges, including selling a Shanghai hotel and shopping malls. IHG Hotels opens new Holiday Inn property in Melbourne, featuring modern amenities and conference facilities.
Asia-Pacific

Singapore Has Another 1 Million Visitor Month

The Singapore Tourism Board said 1.13 million tourist arrivals were recorded in April, the second consecutive month of more than a million arrivals. The Vietnam National Administration of Tourism believes they may attract 10 million foreign tourist arrivals this year, surpassing the target of 8 million previously set. Savills Hanoi said the hospitality industry of Vietnam’s capital city of Hanoi is on the mend on the back of surges in both international and domestic tourist arrivals .
Asia-Pacific

Cambodia to Revive Coastal Tourism Projects

A white paper on the Corporate Travel Management Market said some 84.5% of companies in China are expecting an increase in domestic travel business budgets for 2023 . Cambodia is making plans to finish developing large tourist areas along its coast on the Gulf of Thailand. Dusit Hotels and Resorts is set to expand its global and domestic footprints by opening three hotels in the next 30 days, including two new properties in Bangkok.
Asia-Pacific

Macau to Get Karl Lagerfeld Hotel, Maldives to Get a Rosewood

Golden Week started off with a bang in the SAR with Hong Kong reporting 165,000 people crossed the border into the city on the first day while more than 110,000 tourists from the Mainland left Hong Kong. In June,  SJM  will open the 271-room  Karl Lagerfeld Hotel  on  Cotai  in  Macau . The project was initially unveiled in 2014 but was delayed for various reasons including the pandemic. The Rosewood Ranfaru  in the  Maldives  is expected to open in 2027, stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll