Mercure Hotels

In Q2 2023, the Asia Pacific hotel construction pipeline reached a record high of 1,936 projects with 401,766 rooms. Luxury, upper upscale, and upscale projects dominated the pipeline. Countries with the largest pipelines are India, Vietnam, Thailand, Indonesia, and Japan. Macau has surpassed Hong Kong as the preferred travel destination for mainland Chinese travelers in 2023, receiving nearly twice as many visitors. Around 50.9% of outbound Chinese travelers chose Macau, while Hong Kong received about 26.7%. Mainland Chinese tourists prefer destinations in East Asia and Southeast Asia. Accor is expanding its hotel offerings. They are introducing the Handwritten Collection in Thailand with the Andaman Beach Hotel Phuket, opening a Mercure hotel in Lucknow, India, and launching Lords Inn hotels in Jamnagar, Gujarat, and Kanki, West Bengal. Accor has also partnered with Reliance Industries and Renest Hotels & Resorts for new properties.

China 's hotel RevPAR rose by 22% YoY as of the week ending August 5th, and by 6.7% compared to the same week in 2019. China lifted its ban on group tours to over 70 locations, including countries in Asia Pacific, Europe , Africa , and North America . Notably, group tours to South Korea are resuming for the first time in six years. Indonesia's ONE°15 Marina Nirup Island opened, with phase two set to include a Westin Hotels & Resorts property by Q4 2024.

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.

Radisson Hotel Group plans to open more premium and luxury hotels in Thailand , Cambodia , Laos , and Vietnam over the next five years, with a focus on popular tourist destinations such as Bangkok , Phuket , Chiang Mai , and Samui Island . Wyndham Hotels & Resorts aims to open over 15 hotels with 5,000 additional rooms in Thailand to catch up with the country's tourism industry recovery, but they don't expect a return to pre-pandemic levels until 2024. IHG Hotels & Resorts continues to expand its Hotel Indigo brand in Thailand , with plans to open the Hotel Indigo Bangkok Thonglor in 2026, offering 250 rooms, restaurants, a bar, swimming pool, gym, and meeting spaces.

STR  reported China hotel RevPAR was up 99% year over year for the week ended May 13 . According to Lodging Econometrics’ latest China Construction Pipeline Trend Report , China’s total hotel construction pipeline stand sat at 3,659 projects/680,959 rooms at the end of Q1 2023. Macau visitor arrivals rose 16.2% in April from March, up 275% year over year, to 2,274,050.

Hyatt Hotels held an Investor Day today. They are forecasting $650 to $850 million of free cash flow by 2025 and will be 80% asset-light for their earnings mix. Effective Thursday, the Board of Directors of Louvre Hotel Group has appointed Federico J. Gonzalez as Group CEO. Hilton announced the signing of a management agreement for the first all-inclusive Curio Collection by Hilton property in the Dominican Republic , the new build Zemi Miches All-Inclusive Resort, Curio Collection by Hilton.

Macau saw over 93,000 tourists come to the SAR on Saturday over the Easter weekend. Macau tourism officials continue to try to narrow the gap between current visitation and 2019. Macau average hotel occupancy was about 75% in March . Officials are expecting up to 90% occupancy during the upcoming Labor Day holiday. Accor has 56 operating hotels in India . They entered the country almost two decades ago in 2004. Accor’s vision is to have 200 in five years’ time.

Rosewood Hotels & Resorts  announced Rosewood Residences Hillsboro Beach , located two miles from both Boca Raton and Pompano Beach, Florida . The Vinoy Resort and Golf Club, Autograph Collection has completed the initial phase of a comprehensive renovation led by Rockwell Group . Simon Property Group purchased the Hampton Inn & Suites at Phillips Place from Phillips Place Hotel Investors for $42 million.

The Bulgari Hotel Tokyo has opened its doors. The hotel is located on floors 40-45 of Tokyo Midtown Yaesu, a new skyscraper overlooking the Tokyo Station, the Imperial Palace Gardens and the city. The Singapore Tourism Board said the number of visitors arriving in the first quarter of 2023 reached 2.9 million, representing 62% of its 1Q19 visitation figure . STR reported on China hotel data for the week ended April 1. China hotel RevPAR rose 153.9% year over year for the week against easy comps.

The  DJIA gained about 1%, or about 270 points, while  Nasdaq  rallied 2.4%. The  S&P 500  added about 1.7%, erasing an earlier decline of 0.7%, and the  10-year treasury yield  climbed to 3.58%. It's been a wild week. Baird upgraded their rating on Choice Hotels International to Outperform. They believe their earnings outlook is improving for 2023-2024. IHG Hotels & Resorts continues to demonstrate the strength of its Holiday Inn brand family in Southern Europe