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Asia-Pacific
Taylor Swift Concerts Boost More Hotels
China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%. Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties. Vietnam’s tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels. -
Asia-Pacific
Wyndham Bets on Wellness in Phuket
Radisson Hotel Group expands its portfolio in the Asia Pacific region, adding over 60 hotels in Vietnam , India , Thailand , the Philippines , and China . IHG Hotels & Resorts introduces Vignette Collection to Phnom Penh , Cambodia, with the upcoming opening of Vignette Collection Phnom Penh Odom, following the success of Six Senses Krabey Island. Hilton opens Conrad Shenzhen in China’s Qianhai business district, featuring 300 rooms and providing elevated luxury accommodations in the city’s financial center. -
Asia-Pacific
Ritz-Carlton Properties in Melbourne and Perth Up for Sale
The Ritz-Carlton hotels in Melbourne and Perth are being sold for approximately $500 million, attracting bids from wealthy Australians and offshore investors. Salter Brothers has purchased the Sofitel Adelaide Hotel for $154 million, marking a significant hotel transaction in Adelaide. The Interlude , an urban wellness retreat, has opened in Melbourne ‘s Pentridge prison, featuring unique design elements like an underground swimming pool. -
Asia-Pacific
IHG Hotels Expands in Bhutan and Bangkok
Cambodia ‘s international airports experienced a significant increase in passengers, with a 270% year-on-year growth in the first half of 2023. IHG Hotels & Resorts signed agreements for new hotels in Bhutan and Thailand , expanding its presence in these countries. Radisson Hotel Group achieved strategic growth in the APAC region, adding over 60 hotels to its portfolio, including milestone openings and signings. -
Asia-Pacific
Vietnam Has an Oversupply of Hotels
China hotel RevPAR showed significant year-over-year growth of 50.4% for the week ending July 1, 2023, compared to a decline in 2019 and 7.6% decline in the same period. Vietnam’s international visitor numbers reached 70% of their 2023 projection but remained below expectations due to fierce competition and an economic recession. Domestic tourism in Vietnam is also experiencing a decline. Worldwide Hotels Group made significant acquisitions in Melbourne and Singapore , representing the largest hotel transaction in Melbourne in over six years and the largest single-asset Singapore hotel transaction in Asia Pacific in 2023. -
Asia-Pacific
Radisson, Wyndham and IHG Expand Presence in Thailand
Radisson Hotel Group plans to open more premium and luxury hotels in Thailand , Cambodia , Laos , and Vietnam over the next five years, with a focus on popular tourist destinations such as Bangkok , Phuket , Chiang Mai , and Samui Island . Wyndham Hotels & Resorts aims to open over 15 hotels with 5,000 additional rooms in Thailand to catch up with the country’s tourism industry recovery, but they don’t expect a return to pre-pandemic levels until 2024. IHG Hotels & Resorts continues to expand its Hotel Indigo brand in Thailand , with plans to open the Hotel Indigo Bangkok Thonglor in 2026, offering 250 rooms, restaurants, a bar, swimming pool, gym, and meeting spaces. -
Asia-Pacific
How the Philippines Plans to Boost Visitor Numbers
Philippines aims to become a tourism powerhouse with a new slogan “Love the Philippines” and a five-year plan to boost visitor numbers. Mandarin Oriental in Guangzhou introduces child-friendly MiniMO Jungle Suites and Rooms with themed decor and exclusive amenities. Pan Pacific Hotels Group plans to open Pan Pacific Serviced Suites Bangkok in 2026, featuring 191 suites and leisure spaces. -
Asia-Pacific
Indian Hotels Company Has a New Wellness Brand
China hotel industry shows strong recovery with a 59.8% increase in RevPAR compared to last year. Ascott Ltd. plans to expand its properties in Malaysia and diversify into the hotel business. Raimon Land Plc announces three luxury projects in Phuket and Bangkok, targeting the luxury segment. -
Asia-Pacific
Japan Sees American Visitor Count Top 2019 Levels
American visitor arrivals to Japan increased by 3.6% in the first four months of 2023 compared to the same period in 2019, making the U.S. the only Western nation, apart from Mexico, to experience a rise in tourism to Japan. Hongkong Land unveiled its $8 billion Shanghai West Bund Financial Hub project, which will include office buildings, luxury residential apartments, hotels, a public art center, and retail spaces. The development will be completed in three phases by 2027, and Hongkong Land plans to roll out 10 new developments in China in the next five years. Macau Legend Development announced its intention to sell its Laos gaming operation for $45 million to a Japanese citizen, as the company has faced financial difficulties and its owner has been arrested. After the sale, Macau Legend will have remaining plans to build a hotel and casino in Cape Verde. -
Asia-Pacific
Minor Hotels’ Plans to Grow Portfolio
Strong RevPAR growth observed in China, Singapore, and India, indicating recovery and resilience in the Asian hotel industry. Minor Hotels plans significant expansion across multiple countries, capitalizing on pent-up demand and strategic partnerships. Radisson Hotel Group signs multiple new hotels in India, while ITC considers a potential demerger of its hotel business, reflecting evolving strategies in the market.