OYO Hotels

The Philippines Dept. of Tourism reported that from January to March 4 this year, over 1.23 million international travelers visited.

Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors.

Radisson signed a deal to expand in Cambodia and announced even larger growth on its own across India.

A 60 member House committee in Thailand that is tasked with considering the possibility of developing Thailand’s first legal casinos continues to have trouble completing the task at hand.

Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, is in discussions to lead a $400 million funding round for OYO Hotels & Homes Pvt.

Sydney hotels achieved their highest occupancy levels on New Year’s Eve at 94% followed by 93.8% on December 2nd. There were only two days in the month when occupancy was not above the 60% mark.

Home2 Suites by Hilton announced its newest property, Home2 Suites by Hilton Phoenix Downtown.

The Tokyo Edition, Ginza, designed by Ian Schrager and Kengo Kuma, is now open with 86 guestrooms, including 10 suites. It follows Edition's first Japan venture with the Tokyo Edition, Toranomon, and features large standard rooms and a blend of old and new architecture. IHG Hotels & Resorts and Accor announce multiple global openings for 2024, including luxury and premium hotels in various locations like France, Malaysia, Mexico, New Zealand, Thailand, and others.  Banyan Tree and China Vanke are dissolving their joint ventures, with Banyan Tree acquiring and selling stakes in different ventures for a combined 480 million yuan.

79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market.

IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region. OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat. Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.