Minor Hotels

Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.

Leechiu Property Consultants reported 158 new hotel projects across the Philippines, adding 40,084 rooms, with full recovery in foreign arrivals expected by 2026, generating PHP250 billion in investments and 57,000 jobs.

CoStar's STR reports uneven growth across Asia-Pacific markets in 2024, with Japan and Vietnam showing the strongest potential for continued growth.

China has introduced a visa-free policy for citizens of 17 European countries, allowing short stays of up to 15 days to boost tourism and business travel until the end of 2025.

The Hotel Management Contract Survey 2024 by JLL and Baker McKenzie found that the average term of hotel management agreements in Asia Pacific increased to 17.4 years, with varying durations by market, declining base fees, rising sales and marketing fees, and a growing focus on performance-based incentive fees and termination provisions.

JLL's latest survey forecasts mixed fortunes for the Asia Pacific hotel sector in 2024/2025, with optimism in North, South, and Southeast Asia, caution in Australasia and Greater China, and varied expectations for revenue, occupancy, and Capex investments.

Banyan Group has launched its first Banyan Tree hotel in Japan, located in Kyoto, and plans further expansion with four additional properties in development.

India, Vietnam, Indonesia, Thailand, and Japan lead this quarter’s hotel construction pipeline in the APEC region. China doesn’t make an appearance.

Vietnam's hotel industry is struggling due to slow tourism recovery, oversupply, and poor planning, despite near pre-pandemic room rates and increased interest in lifestyle and focused service hotels.

Alliance Global Corp plans to spend nearly $170 million this year, mainly on upgrading facilities at Newport World Resorts and developing Westside City.