Marina Bay Sands

In 2023, the Taj brand strengthened its presence in key metro and commercial cities, including Delhi, Cochin, Dhaka, and Bhutan. Vivanta and SeleQtions collectively added 17 hotels while Ginger signed agreements for six new hotels.

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round for OYO Hotels & Homes Pvt.

Foreign investors like Goldman Sachs, KKR, and Blackstone have invested $2 billion in Japanese hotel deals this year, driven by a hotel business rebound and favorable exchange rates. Hilton plans substantial growth in Southeast Asia, introducing a new Hilton Garden Inn prototype and adding seven new hotels in Malaysia, including new brands like Curio Collection and Waldorf Astoria. Accor expands across Asia with 30 new hotels, focusing on markets like Japan, Vietnam, Indonesia, and India, while also partnering to introduce the Swissotel brand to Malaysia with Swissotel Genting Highlands.

Chinese investors are shifting their focus from New York City hotels due to hostility towards Chinese capital. Radisson Hotel Group has achieved significant growth in the Asia Pacific and Europe, Middle East, and Africa regions with over 100 hotel openings and signings, particularly in Vietnam, India, Thailand, the Philippines, and China. Several major hotel companies, such as Sands China, Dharampal Satyapal Group, ITC Ltd., Accor, and Hilton, are making significant expansions, acquisitions, and rebranding efforts across Asia.

Chinese domestic tourism rebounds strongly, reaching 119% of pre-pandemic levels during the May Day holiday, while international travel remains slow. Fitch Ratings highlights the encouraging recovery trajectory of the domestic tourism industry, driven by pent-up demand and limited outbound flight options. Despite the increase in domestic trips, spending remains nearly flat due to factors such as low-income travelers, visits to lower-tier cities, and short-distance trips.

Golden Week started off with a bang in the SAR with Hong Kong reporting 165,000 people crossed the border into the city on the first day while more than 110,000 tourists from the Mainland left Hong Kong. In June,  SJM  will open the 271-room  Karl Lagerfeld Hotel  on  Cotai  in  Macau . The project was initially unveiled in 2014 but was delayed for various reasons including the pandemic. The Rosewood Ranfaru  in the  Maldives  is expected to open in 2027, stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll

Radisson Hotel Group announced the latest phase of their expansion strategy in the Philippines with the signing of a deal with SM Hotels & Conventions Corp. Las Vegas Sands’ Marina Bay Sands in Singapore has completed the renovations on over 850 hotels rooms. Millennium Hotels announced the launch of M Social in Suzhou , the maiden property for the brand in China.

Xxpectations for everyone in the Asia Pacific region was the reopening of China would cause a regional surge but so far, that has been muted. For February, the biggest proportion of tourists to Indonesia came from Malaysia , followed by Australia and Singapore . The Singapore Tourism Board has signed a new three-year Memorandum of Understanding with Flight Centre Travel Group Limited aimed at driving increased visitation to Singapore via FCTG’s global network. Las Vegas Sands is expected to complete their US$1 billion upgrade of hotel facilities at the Marina Bay Sands in Singapore by the end of the year.

Chinese hotels experience 20% increase in revenue per available room compared to pre-pandemic levels Domestic tourism boom and successful virus containment measures contribute to the rise in hotel occupancy and revenue High-end and luxury hotels see the most significant growth in revenue per available room, with some reporting up to a 50% increase

Malaysia reopened its borders nearly a year ago and finally its hotel industry is getting back to pre-pandemic occupancy levels. The resort island of Phuket in Thailand has seen a surge of Russian travelers in the high season. That adds to a jump in regional visitation from India , Malaysia and Singapore . Reuters published an article on how the belief that airline stocks and online travel agencies would be the best Chinese travel reopening play was wrong.