ONYX Hospitality Group

IHG Hotels and Resorts is expanding in India with the Holiday Inn Resort Dharamshala opening in 2027 and the InterContinental Kodaikanal Resort debuting in 2028, featuring luxury amenities and strategic leisure offerings.

China's hotel construction pipeline reached 3,853 projects with 703,312 rooms in Q3 2024, showing steady growth, with significant openings forecast for 2025 and 2026.

Las Vegas Sands increased the Marina Bay Sands expansion budget to US$8 billion for a new fourth tower with its own casino, luxury suites, arena, and more, with construction starting in mid-2025 and opening in 2031.

Tycoon Manuel Villar Jr. plans to open his first casino in Manila by 2025, investing $1 billion in two integrated casino resorts, with the first located at Vista Mall Global South in Las Pinas and the second in the Villar City development.

IHG Hotels & Resorts will open its first hotel in Kashmir, voco Srinagar, in late 2026, featuring 95 rooms, diverse dining, and meting facilities – marking the sixth voco hotel in India.

Fitch Ratings revised its 2024 outlook for APAC lodging to improving from neutral due to robust recovery in travel and RevPAR in 1Q24, anticipating strong rebound in China's outbound tourism to support overall APAC hotel occupancy and growth.

In February 2024, major Indian hotel markets experienced near double-digit ADR growth and slightly higher occupancy rates, with notable increases in Hyderabad and Goa despite occupancy dips, and overall performance surpassing February 2019 levels.

The Thai hotel industry anticipates a full recovery from the pandemic by late 2024, with Phuket remaining a top destination. Thai hotels had a 60% occupancy rate in 2023, a surge attributed to direct overseas flights and visa-free entry for several countries. Vietnam's tourism authority targets 17-18 million international visitors in 2024, with a revenue goal of 840 trillion VND. In 2023, Vietnam exceeded its 12.5 million visitor target and saw 108 million domestic trips, generating 678 trillion VND in revenue. Marriott International plans to open new Ritz-Carlton and Marriott Marquis hotels in Beijing by 2026, enhancing their presence in China. The Sheraton Colombo Hotel, Marriott's second in Sri Lanka, has opened, offering luxury amenities and strategic location.

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.

Singapore saw a significant rise in international visitor arrivals in October, notably from China and Indonesia. Meanwhile, The Philippines plans to develop 48 new hotels by 2028. Several hospitality brands announced major expansions, including The Standard International's new The StandardX in Melbourne, Australia, and Accor opening Mercure Tokyo Haneda Airport. Indian Hotels Company formalized a partnership for a new Vivanta hotel in Kochi, India, and Crowne Plaza in Chennai, India will be replaced by luxury apartments.