ITC Hotels

YOTEL opened its first Japanese hotel in Tokyo’s Ginza and plans further growth across Asia and the Middle East, while The Standard launched its Singapore property offering stylish rooms, a rooftop pool, and signature dining.

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.

Singapore's hotel market is thriving with high-end travelers and strong occupancy, while Hong Kong is focusing on budget-conscious visitors as its luxury sector struggles to recover.

India, Vietnam, Indonesia, Thailand, and Japan lead this quarter’s hotel construction pipeline in the APEC region. China doesn’t make an appearance.

Luxury hotels in Bangladesh are facing a nearly 90% drop in guests and significant financial losses due to unrest, curfews, and travel warnings, with near-zero bookings reported for late July and August.

Sri Lankan billionaire Dhammika Perera plans to open two luxury hotels, a JW Marriott in Negombo and a Ritz-Carlton in Mirissa, by the end of 2025 after delays due to economic downturn.

In May, Indonesia saw a 20.1% year-over-year rise in foreign tourist arrivals to 1.15 million, with hotel occupancy reaching 54%, the highest since December 2023.

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.