Grand Mercure Hotels and Resorts

Asia-Pacific

Accor Opens Its 700th Hotel in China

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.
Asia-Pacific

Luxury Hotel Brands Flood Into Seoul

Marriott International expands its presence in Seoul while luxury brands like Aman Group, Rosewood Hotels & Resorts, and IHG Hotels & Resorts are also entering the South Korean market.
Asia-Pacific

Accor Plans 30 New Hotels in India

Accor plans to expand its Indian portfolio by introducing 30 new hotels, adding 5,500 rooms over the next 3-5 years, and is set to open luxury hotels including Sofitel Jaipur Jawahar Circle and Raffles Jaipur.
Asia-Pacific

India Hotel Investment Activity Recap

India’s hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism.
Asia-Pacific

Fosun Explores Selling a Stake in Club Med

Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged.
Asia-Pacific

Maldives Hotel Bookings Are Victims of Social Media Spat

China’s hotel RevPAR surged 56.1% year-over-year for the week ending December 30th, showing a significant recovery compared to the previous year’s decline. The Maldives experienced a backlash from Indian tourists, with a significant number of hotel booking and flight ticket cancellations, following offensive comments by Maldivian politicians against Indian Prime Minister Narendra Modi. Major hotel groups are announcing new projects and expansions, such as Accor’s partnership to launch Grande Mercure Jaipur Kukas in India, and Oberoi Group’s legal setback in Himachal Pradesh.
Asia-Pacific

China Sees RevPAR Surge 54% Year-Over-Year

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.
Asia-Pacific

Hyatt Unveils Tokyo’s Toranomon Hills

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.
Asia-Pacific

Tokyo Leads Asia with Record Occupancy and Rates

Notable are the predictions of 3% to 8% hotel rate hikes in 2024, with Asia leading in occupancy growth. Accor’s execution of management agreements for 69 properties across Asia, enhancing its portfolio with over 16,500 keys, is a major development. The reopening of the Mandarin Oriental Singapore after a multi-million dollar transformation underscores significant refurbishment investments in the industry.
Asia-Pacific

Hilton Expands Its Curio Collection in Asia Pacific

China’s hotel Revenue Per Available Room (RevPAR) increased by 46.5% for the week ending November 25, 2023, compared to a 2.2% increase year-over-year but was down 2.8% compared to 2019. Curio Collection by Hilton is set to reach its 150th opening by the end of 2023, with 19 new properties, including 10 first-in-market hotels, such as in Kenya, Vietnam, Monaco, Australia, Argentina, and Curacao. Courtyard by Marriott Bangkok Suvarnabhumi Airport opened on December 1, being the largest in Thailand with 468 rooms and multiple dining options.