Mercure Hotels

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.

Marriott International had the pleasure of debuting their Moxy Hotels brand in India while also expanding their JW Marriott brand to the city of Surat, Gujarat.

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city's highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.

Wharf Holdings is planning to open 25 Maqo hotels by 2025 and is discussing expansions in China, Japan, and Thailand. IHG is introducing a new Holiday Inn Resort in Maharashtra, India, for 2027 and announced significant growth of their Holiday Inn Express brand in Greater China. ONYX Hospitality Group is expanding its Shama serviced apartment brand with five new properties across Asia, including locations in China, Malaysia, and Thailand.

STR reported a 54.2% increase in China's hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG's voco Amritsar Airport and Radisson's Uday Palace Navsari targeting diverse locations.

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.

IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region. OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat. Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.

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.

Accor aims for a record year in hotel signings across Asia, focusing on Premium, Midscale, and Economy divisions. Thailand offers visa waivers to Indian and Taiwanese tourists to boost its tourism sector. Macau experiences increased hotel occupancy rates, with significant construction plans for additional rooms.

CNBC discusses the repercussions of New York City's crackdown on Airbnb, suggesting that hotels will benefit from higher prices during the holiday season due to Airbnb's cancellation of bookings after December 1. Legacy Development & Management acquired the Albuquerque Marriott Pyramid North and plans a $22 million, two-year renovation, including room upgrades, new amenities, and exterior improvements. Various new hotel development projects are underway, including a Marriott Westin at the Indianapolis International Airport, a Hilton-branded hotel in Decatur, Georgia, a Four Seasons Hotel & Residences in Jacksonville, Florida, and a $2 billion theme park called American Heartland in Vinita, Oklahoma.