MGallery Hotel Collection

TPG Angelo Gordon, in partnership with Kenedix, is purchasing the Grand Nikko Tokyo Daiba hotel from Hulic Co. for $691 million as part of its strategy to invest in opportunistic real estate in Asia.

Accor Greater China announced a dual-branded project on Banping Island in Wenzhou, featuring the debut of Peppers Edge and an MGallery luxury resort, both opening in late 2027.

Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand's sixtieth anniversary and the China-France Year of Culture and Tourism.

Oyo is seeking to raise $80-$90 million from InCred's family offices at a reduced valuation to pay off debt and refile for an IPO.

Thailand's legislature is considering legalizing casino resorts, anticipating a potential increase of US$12 billion in tourism revenue.

Seibu Prince Hotels will offer a consolidated membership program and unify its brand identity under a single brand.

Accor will open 100 luxury and lifestyle hotels by 2025, with plans to sign at least 50 more projects per year.

The Tokyo Edition, Ginza, designed by Ian Schrager and Kengo Kuma, is now open with 86 guestrooms, including 10 suites. It follows Edition's first Japan venture with the Tokyo Edition, Toranomon, and features large standard rooms and a blend of old and new architecture. IHG Hotels & Resorts and Accor announce multiple global openings for 2024, including luxury and premium hotels in various locations like France, Malaysia, Mexico, New Zealand, Thailand, and others.  Banyan Tree and China Vanke are dissolving their joint ventures, with Banyan Tree acquiring and selling stakes in different ventures for a combined 480 million yuan.

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.

Wells Fargo initiated coverage on Hyatt, Hilton, and Marriott, favoring operators targeting group and high-end travel, with strong growth outlooks and reasonable valuations. They predict a 3%-4% RevPAR growth in 2024. Accor added Hotel Andra Seattle to its portfolio and plans for new MGallery properties. International tourism is nearing pre-pandemic levels, with a 38% increase in travelers in 2023 compared to 2022. The Middle East leads the recovery, while Europe, Africa, and the Americas show significant improvement.