Leisure Hotels Group

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

Ascott to Add 8 Lyf-Branded Properties

CapitaLand Investment's the Ascott Limited, is adding eight new properties to its lyf brand portfolio. The additions mark Ascott’s expansion into various global city and resort destinations including Bali, Penang, and Sydney.
Asia-Pacific

Accor Welcomes 23 Mercure and Grand Mercure Hotels in Japan

Accor is rebranding 23 Daiwa Resorts properties in Japan as Mercure and Grand Mercure hotels in 2024. The first Hyatt Place hotel in Johor Bahru, Malaysia, is now open, connected to Paradigm Mall. Swiss-Belhotel International rebranded an upscale property in Surabaya, Indonesia, as the Grand Swiss-Belhotel Darmo.
North America

Choice Merger With Radisson Americas Is on Track

Choice Hotels to integrate nearly 600 Radisson Americas hotels onto its reservation delivery engine and loyalty program. Dauntless Capital Partners purchases Hilton Garden Inn Bethesda Downtown for immediate renovation. Excel Hotel Group plans to build a 130-room SpringHill Suites Hotel in Grover Beach, California.
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.
North America

Aimbridge Acquires 71 Terrapin Management Contracts

Aimbridge Hospitality has acquired the management arm of Terrapin Hospitality , with 71 hotels located in 21 states. This aggregates to over 8,100 keys transitioning to Aimbridge management. B.Riley lowered their price target on Ashford Inc. to $14 from $18, they maintained their Neutral rating on the stock. IHG Hotels & Resorts announced the opening of a new Holiday Inn Express & Suites Hotel in Glendale, California .
Asia-Pacific

Pan Pacific Hotels to Double Serviced Suites Portfolio

Pan Pacific Hotels Group announced it will double its serviced suites portfolio in 2023. Mandarin Oriental Hotel Group announced it will manage a new resort with branded residences in Phu Yen province, one of Vietnam’s coastal regions. InterContinental Khao Yai Resort in Thailand has unveiled 19 Suites and Villas, housed within repurposed heritage railcars marking the final phase of its opening journey.
Asia-Pacific

India Hotels Projected to See 23% Growth Over Pre-Pandemic Levels

STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019. CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global Portfolio. Crisil Ratings said the Indian hotel industry is likely to witness 23% growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel.