Movenpick

India leads the APEC construction pipeline with 940 projects/124,011 rooms. Plus, more hotel deal and development news from APAC.

Mandarin Oriental Hotel Group and controlling shareholder Jardine Matheson reported that a majority of MOHG’s independent shareholders voted in favor of Jardine Matheson’s bid to acquire the remaining stake in the company…

Tokyo, Japan, unveiled a plan to overhaul its accommodation tax system, replacing the current flat-rate structure with a percentage-based model. In most cases it will boost what people pay. Plus, more hotel development news.

Accor said its strategic growth in Asia continues with a diverse pipeline of more than 230 hotels representing close to 60,000 keys in development. Plus more hotel deal news.

Donald Trump’s real-estate company is exploring a deal exceeding $300 million to reacquire its former Washington, D.C. hotel—now a Waldorf Astoria—and potentially revert it to the Trump brand.

Melbourne's hotel performance in October surged due to concerts by Olivia Rodrigo and Coldplay, the Melbourne Marathon, and Melbourne Fashion Week, with occupancy, ADR, and RevPAR reaching record highs.

Schloss Bangalore, owner of The Leela hotel chain, has filed for a US$599 million IPO to fund expansion and debt repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi managing the issue.

Wyndham Hotels & Resorts will open their first luxury hotel in India next year in Udaipur, while expanding their presence in the country with more hotel openings and strategic alliances.

Banyan Tree Higashiyama Kyoto, opening Q3 2024, will be Banyan Tree's first Japan hotel, featuring 52 guestrooms, a spa, and two dining options.

India's hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism.