Hyatt Centric

A new report says that hotel franchising is rapidly expanding in Southeast Asia, providing local hotel owners significant growth opportunities despite market challenges.

Hyatt Hotels launched Caption by Hyatt Zhongshan Park Shanghai, its new lifestyle brand in the Asia Pacific, and opened Hyatt Centric Zhongshan Park Shanghai, the first full-service Hyatt Centric hotel in downtown Shanghai.

Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

In 2024, the company’s expansion plans include an initial goal of opening more than twenty hotels and continuing to sign as many new projects.

Las Vegas Sands’ Marina Bay Sands in Singapore’s expansion plans received another increase. Marina Bay Sands said they launched the second phase of its significant reinvestment program.

The Philippine Department of Tourism achieved over 5 million international visitors in 2023, nearing pre-pandemic levels, with a focus on their National Tourism Development Plan 2023-2028. China's tourism rebound is driven by domestic demand, though sustainability into the next year is uncertain. The Hongkong and Shanghai Hotels announced executive changes effective 2024, with a formal search for a new CEO.

Earnings reports from various hotel and hospitality companies have mixed results, with Marriott International and Hyatt facing disappointment, while Park Hotels, Chatham Lodging Trust, Host Hotels, RLJ Lodging Trust, and Summit Hotel Properties pleased investors. Hyatt Hotels plans to double its brand footprint in Canada with 23 new hotels by 2026, including airport locations and Hyatt Centric and Hyatt House properties. Various hotel acquisitions, openings, and renovations are announced, including the launch of Pendry Tampa and Pendry Residences Tampa, and the renovation of L'Ermitage Beverly Hills. Selina Hospitality faces financial challenges and seeks to restructure its debt.

B of A Securities gives IHG Hotels & Resorts a Buy rating. Sonder announces a 1-for-20 reverse stock split. Hyatt plans to expand with over 30 new hotels in the Americas by 2025, emphasizing luxury, resort, and lifestyle rooms. Miraval Resorts unveils its spa after a $60 million renovation. Raffles Boston and The Fontainebleau Las Vegas announce their openings.

Truist  reported on its visit to  San Francisco  for the Visit Impact Summit. The good news is that the fall 2023 events are showing improvement. Marriott International  announced the completion of a recent redesign and renovation to the 146-room  Courtyard by Marriott Denver Central Park  in Denver, Colorado . Airbnb  stock received a big lift with the announcement of its  inclusion in the S&P 500 .

Q2 '23 saw 14,572 global hotel projects. Luxury and upscale chains dominate, led by Hilton, Marriott, and IHG. Urban hotels lag in post-pandemic recovery compared to resorts and suburban counterparts, with rate management playing a vital role. Notable new hotels, rebranding, and appointments are taking place, with Hilton, Riu Caribe, Choice Hotels, and Sonder making moves. London's Broadwick Soho hotel is set to open with unique additions.