Hyatt Regency

Hotel construction in the Asia-Pacific region (excluding China) reached record highs in Q3 2024, with India, Vietnam, and Thailand leading the market, and a robust forecast for new openings through 2026.

The Oberoi family is embroiled in a legal dispute over the hotel company’s board and inheritance, with Anastasia Oberoi challenging her step-siblings over a contested will from 2021.

Hilton plans to double its focused service presence in Asia Pacific by expanding its mid-market hotel portfolio to over 1,000 properties, with ongoing regionalized brand initiatives and franchising expansion in key markets.

The U.S. hotel industry is experiencing steady growth, with construction volumes rising for seven consecutive months, especially in upscale and luxury segments.

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.

Hyatt has launched Alila Shanghai in the Jing'an area, marking the first Urban Alila Resort-style hotel in Greater China, featuring 186 rooms, luxury amenities, and exclusive access to Zhangyuan.

Strong passenger demand, in-person events, and positive industry momentum are driving business travel growth, with global passenger demand up 9.1%, hotel occupancy nearing 70%, and steady travel demand expected through the next quarter.

Wyndham launches its first U.S. Registry Collection Hotel with the renovated Mining Exchange in Colorado Springs, offering 128 rooms, dining, a spa, an art gallery, and 15,000 square feet of event space.

JLL reports a significant rise in large hotel transactions, particularly in luxury markets, with 2024 seeing a 59% increase in single-asset deals over $200 million, totaling $4 billion.

In July 2024, the U.S. hotel industry saw flat year-over-year performance, with Oahu Island leading in key metrics, while Phoenix and New Orleans had the lowest occupancy rates.