OYO Hotels

Exterior of a short-term rental building
North America

Marriott Drops Sonder a Lifeline

Marriott International has entered a long-term licensing agreement with Sonder Holdings to add over 9,000 rooms to its portfolio under a new “Sonder by Marriott Bonvoy” collection, contributing to a projected 2024 net room growth of 6-6.5%.
August 19th, 2024 at 5:09 PM EDT
Asia-Pacific

Vietnamese Hotels Face Occupancy Woes 

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.
August 13th, 2024 at 8:30 AM EDT
Asia-Pacific

Capella Hotels to Open First Resort in Taiwan

Capella Hotels announced the opening of Capella Kenting, a world-class resort in Southern Taiwan, set for 2028, featuring Taiwan’s largest hotel rooms and extensive luxury amenities.
August 7th, 2024 at 8:10 AM EDT
Asia-Pacific

The Philippines Plan to Expand Air Travel

The Philippine government is enhancing flight availability and establishing new routes to boost tourism from key and emerging markets.
July 10th, 2024 at 8:05 AM EDT
Asia-Pacific

Australia Will Have Record Tourism Economic Impact in 2024

The World Travel & Tourism Council forecasts that Australia’s travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.
June 25th, 2024 at 7:10 AM EDT
Asia-Pacific

Oyo in Talks to Raise up to $90 Million

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.
May 23rd, 2024 at 7:41 AM EDT
Asia-Pacific

South Korean Hotel Rates Surge 43%

In the first quarter of 2024, South Korea’s hotel industry saw significant growth in average daily rates and RevPAR, driven by key tourist destinations, but investment activity remained subdued despite limited future supply and expected continued success in luxury and upscale segments.
May 20th, 2024 at 7:27 AM EDT
seating inside a hotel lobby
Asia-Pacific

Brookfield to List The Leela Palaces

Brookfield Asset Management is planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, which represents the largest-ever foreign investment in the Indian hospitality sector.
May 1st, 2024 at 7:27 AM EDT
Asia-Pacific

Taylor Swift Concerts Break Hotel Records in Australia

In February 2024, Sydney and Melbourne, Australia, experienced record hotel occupancy and rates, attributed to Taylor Swift’s Eras tour, with significant yearly increases in occupancy, average daily rates, and revenue per available room.
March 13th, 2024 at 7:22 AM EDT