ONYX Hospitality Group

Asia-Pacific

India Sees Double-Digit Room Rate 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.
Asia-Pacific

Thailand and Vietnam Set Their Tourism Targets

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.
Asia-Pacific

IHG’s Holiday Inn Resorts and Express Surpasses Milestones

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.
Asia-Pacific

New StandardX Brand Will Debut in Melbourne

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.
Asia-Pacific

China’s Domestic Travel Tops 2019 in Trips and Spending

Outbound travel from China surged significantly during the National Day Holiday, led by younger Chinese travelers. Indonesia became the top source market for Singapore’s monthly visitor arrivals, with Chinese visitors staying longer on average. The Postcard Hotel is set to open India’s most expensive hotel in Ranthambore and plans to launch several more hotels in 2024.
Asia-Pacific

Thailand Aims for Record 2 Million Russian Tourists Amid European Travel Restrictions

Thai tourism officials hope for 2 million Russian tourists to visit Thailand next year, as Russian travelers have been unwelcome in many European tourist locations due to their government’s illegal invasion of Ukraine. Marriott International’s Sheraton Hotels & Resorts is expanding in Asia Pacific with five new properties in China and Japan , showcasing the brand’s new design concept. ONYX Hospitality Group announced the grand opening of Amari Raaya Maldives , establishing its presence in the Southeast Asian hotel industry.
Asia-Pacific

Mandarin Oriental’s New CEO, Radisson’s Deal With La Vie

Mandarin Oriental announced that Laurent Kleitman will be taking over for James Riley as group chief executive from September 1, 2023. Radisson Hotel Group and La Vie Hotels & Resorts announced the signing of a Master Collaboration Agreement to add over 30 hotels to the Group’s portfolio over the next 10 years. ONYX Hospitality Group has signed a business alliance agreement with Walton Asset Management Co., Ltd. to manage Shama Luxe Sukhumvit Bangkok .
Asia-Pacific

TFE Hotels, ShriGo Hotels and Grand Amanta Expand

STR said China hotel RevPAR the week ended 12/24  was down -21.9% year over year and down -38.9% versus the same week in 2019. Marriott International said its transformation of the Sheraton Hotels & Resorts brand  continues to build momentum across the globe. TFE Hotels  will launch into 2023,  opening three new-build hotels  in the first half. The  Adina Apartment Hotel Pentridge Melbourne  will open in Australia in February.
Asia-Pacific

Macau Announces End to Zero-Covid Policy

Macau follows what China’s leadership tells them to and now it is confirmed that Zero Covid is dead. ONYX Hospitality Group unveiled plans to strengthen its serviced apartment brand, Shama . The Novotel Bali Benoa has reopened following a major renovation that will reposition the beachfront resort.
Asia-Pacific

Asia-Pacific Construction Pipeline at Close of Q3

The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. ONYX Hospitality Group said they reinforced their expansion plan with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia . According to the recent Q3 2022 close of the Construction Pipeline Trend Report , Asia Pacific’s total construction pipeline, excluding China, stands at 1,881 projects.