ITC Hotels

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.

The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.

Brookfield Asset Management is planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, which represents the largest-ever foreign investment in the Indian hospitality sector.

Six Senses Kyoto, the brand's first urban hotel in Japan, has opened in Kyoto's Higashiyama district, featuring 81 rooms and suites, a spa with unique treatments, and diverse dining options.