Park Hyatt

Phuket and Bali are experiencing tourism growth with record hotel rates but face infrastructure challenges and have yet to return to pre-COVID arrival levels.

Global hotel transactions rose to $42.1 billion in Q3 2024, driven by large deals and robust fundamentals, with further growth expected amid favorable economic conditions.

Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.

Hyatt Hotels is expanding its select service pipeline by 25% in the Americas, with significant global growth of its Caption by Hyatt and Hyatt Studios brands, while also upgrading its Hyatt House and Hyatt Place brands for better efficiency and guest experience.

EIH Ltd plans to build new hotels in Pune and London, while facing a legal family dispute over the company.

Hyatt Hotels announced plans to acquire Standard International's brands and affiliates, creating a new lifestyle group led by Amar Lalvani, with a $150 million base purchase and potential additional payments.

The Philippines aims for 7.7 million tourists in 2024 despite challenges, with South Korea as the top source market and a significant increase in visitor receipts this year.

The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.

Hilton beat estimates and cut guidance, and seemed to have a report that was accepted more than Marriott ’s.  The company has raised their net room growth target for the year and it repurchased shares this quarter.

A stalking-horse buyer has offered $500 million for the abandoned Oceanwide Plaza in Downtown Los Angeles, which includes a partially built Park Hyatt hotel.