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Asia-Pacific
Vietnam’s Hotel Room Supply Is on the Rise
Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026. -
Asia-Pacific
Minor Is Bullish on Thailand
Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast. -
Asia-Pacific
Banyan Tree Celebrates 30th Birthday With a Rebranding
Banyan Tree Group is celebrating its 30th anniversary with the change in name to Banyan Group. The company said the brand shift reflects the group’s evolution into a dynamic, multi-brand hospitality powerhouse. -
Asia-Pacific
The Peninsula’s Parent Company Seeks a New CEO
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. -
Asia-Pacific
Hotel Revenue Is Growing in Asia and Latin America
79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market. -
Asia-Pacific
Macau’s Events Attendance Reaches 96% of 2019 Levels
Macau’s gaming tourism area hosted over 245 MICE (Meetings, Incentives, Conferences, and Exhibitions) events in the third quarter of 2023, a 231% increase from the previous year. Several new hotels are opening or being signed across Asia, including the Four Seasons Hotel Suzhou in China, the first TRIBE NATION hotel in China, and Mandarin Oriental’s Villa Mayavee in Phuket Mohegan Inspire Entertainment in South Korea begins a soft opening of its non-casino areas, and Indian Hotels Company announces its sixth Ginger brand hotel in Kerala, India. -
Asia-Pacific
China to Drop Visa Requirement for Select Countries
China launches a pilot project allowing visa-free travel for visitors from several countries, with Malaysia reciprocating for Chinese and Indian visitors. IHG, Accor, SM Hotels, Hilton, and Artyzen Hospitality Group announce new properties and partnerships across Asia. The former Palazzo Versace in Australia is up for sale with a $100 million price tag. -
Asia-Pacific
New StandardX Brand Will Debut in Melbourne
Singapore saw a significant rise in international visitor arrivals in October, notably from China and Indonesia. Meanwhile, The Philippines plans to develop 48 new hotels by 2028. Several hospitality brands announced major expansions, including The Standard International’s new The StandardX in Melbourne, Australia, and Accor opening Mercure Tokyo Haneda Airport. Indian Hotels Company formalized a partnership for a new Vivanta hotel in Kochi, India, and Crowne Plaza in Chennai, India will be replaced by luxury apartments. -
Asia-Pacific
Outbound Chinese Travel Preferences Shift to Singapore, Europe and South Korea
Chinese tourists are showing decreased interest in Japan and Thailand, partly due to Japan’s Fukushima wastewater release and negative perceptions from movies about Thailand. Consequently, Singapore, Europe, South Korea, Malaysia, and Australia have become more popular destinations. M Social opens its first hotel in Suzhou, China, and Indian Hotels Company plans to expand its Ginger brand across India. Other developments include the opening of the Ramada Encore by Wyndham in Amritsar, India, and new properties in Goa and Hong Kong under different brands. Sun Siyam Pasikudah in Sri Lanka reopens after renovations, and Berjaya Land Bhd secures a loan for developing the Four Seasons Resort in Okinawa, Japan. -
Asia-Pacific
OYO Plans to Repay Debt Prior to IPO
IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region. OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat. Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.