Galaxy Entertainment Group

Many U.S. hotel companies reported earnings, with RLJ Lodging Trust beating estimates but giving a softer forecast, Xenia Hotels missing across the board, and Host Hotels posting a modest beat despite hurricane impacts.

Las Vegas Sands increased the Marina Bay Sands expansion budget to US$8 billion for a new fourth tower with its own casino, luxury suites, arena, and more, with construction starting in mid-2025 and opening in 2031.

IHG Hotels & Resorts plans to double its presence in India to 100 hotels over the next five years, expanding in key cities and introducing the InterContinental brand in Telangana by 2029.

STR reported a 54.2% increase in China's hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG's voco Amritsar Airport and Radisson's Uday Palace Navsari targeting diverse locations.

Marriott expands into CNMI with the first Marriott hotel in the Northern Marianas Islands in 2025, partnering with Honest Profit International Ltd for management. YOHO Treasure Island Resorts World Hotel in Macau announces its official opening after a four-month soft opening period, offering 600 rooms initially, and Melia Hotels International plans to open ME by Melia hotel in Guangzhou, Asia Pacific, in 2027. DigiPlus Interactive Corp backpedals on plans to develop land in Boracay, Philippines, after a public dispute with former partner Galaxy Entertainment Group.

Samaras Construction plans to build a high-end hotel in Adelaide, Australia, featuring 175 luxurious rooms, a lavish lobby, a hotel-style bar, and a restaurant. Pan Pacific Perth is undergoing a $50 million refurbishment of its luxury hotel and convention spaces in Adelaide, including guest rooms, suites, and convention facilities. Keppel has completed the divestment of Sedona Hotel Yangon in Myanmar for $57.4 million, while Galaxy Entertainment Group is not re-entering a resort project in the Philippines.

Efforts to attract Chinese tourists to Southeast Asia are falling short, with drops in arrivals to Thailand, Cambodia, and Vietnam; Thailand's visa exemption offers a temporary boost. Numerous hotel developments across Asia include expansions by Amora Group, partnerships in Malaysia and Indonesia, and potential property transformations in Singapore and Australia. DigiPlus Interactive Corp. aims to resurrect a $500 million casino resort on Boracay Island, hoping for favorable response from the Marcos administration.

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.

The Thai Hotels Association (THA) expresses concerns about new regulations that exclude accommodations with up to eight rooms and 30 guests from the hotel business, anticipating a 15% to 20% loss in tourism revenue and increased safety risks. The THA believes these regulations have more disadvantages than benefits, while the Tourism Council of Thailand supports them. Speculation grows regarding the legalization of casino gambling in Thailand within three years, attracting international and regional operators. The text emphasizes the importance of the government's approach to legalization, as it could affect investor interest, citing examples from other countries like Vietnam, South Korea, and Japan. New World Hotels & Resorts, an upper-upscale hotel brand under Rosewood Hotel Group, is actively expanding in Asia. They plan to have 18 operating hotels by the end of the year, with two more opening in 2024. The brand is entering various markets, including Mainland China, Vietnam, and Japan.

Australia and New Zealand hotels saw revenue rise during FIFA Women's World Cup, especially in Wellington and Auckland. Singapore Expands Hotel Hiring: Singapore permits hiring from six new countries to meet growing hotel sector demands. Macau's tourism recovers with high visitor counts and new hotel offerings, including Raffles Hotel.