Pride Group of Hotels

International hotel chains including Hilton, Marriott and IHCL are ramping up expansion across India and Southeast Asia with major deals. Plus, other hotel development news.

Mandarin Oriental Hotel Group and controlling shareholder Jardine Matheson reported that a majority of MOHG’s independent shareholders voted in favor of Jardine Matheson’s bid to acquire the remaining stake in the company…

Vietnam is expected to have 25 million tourists in 2025, up from 17.6 million last year, and it's been building hotels to keep up. Plus, other hotel development news.

Radisson Hotel Group’s CEO, Federico Gonzalez, discusses expansion plans in India (saying his group ranks second in India in terms of number of hotels). Plus, BWH Group expands in APAC, and more hotel news.

Taj-parent IHCL buys 51% of ANK Hotels, Pride Hospitality for $23M, adding 135 mid-market hotels to expand India presence.

China's Golden Week started with 96,671 visitors to Macau on Monday, and despite last year's high numbers, the tourism office predicts a lower daily average of 100,000 arrivals from October 1-7.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.

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

Chinese tourists are showing decreased interest in Japan and Thailand, partly due to Japan's Fukushima wastewater release and negative perceptions from movies about Thailand. Consequently, Singapore, Europe, South Korea, Malaysia, and Australia have become more popular destinations. M Social opens its first hotel in Suzhou, China, and Indian Hotels Company plans to expand its Ginger brand across India. Other developments include the opening of the Ramada Encore by Wyndham in Amritsar, India, and new properties in Goa and Hong Kong under different brands. Sun Siyam Pasikudah in Sri Lanka reopens after renovations, and Berjaya Land Bhd secures a loan for developing the Four Seasons Resort in Okinawa, Japan.

China hotel RevPAR for the week ending October 14th increased by 73.4% YoY, with a -35.5% comp from 2022, but was still down -18.3% compared to the same week in 2019. The Ascott Limited introduced The Crest Collection brand in Asia, opening three properties in Singapore, Indonesia, and Malaysia with heritage-themed hospitality experiences. Various hotel developments and transactions include Royal Orchid & Regenta's new property in Mysuru, a 4-star hotel sale in Vadodara, Lemon Tree Hotels' franchise agreement in Vadodara, Kenilworth Hotel's upcoming project in Coimbatore, Bong Sen Corp's plan to sell assets in Vietnam, and BWHSM Hotels' expansion in Bangkok. Pride Hotels Group appointed Chandrashekhar Belose as Corporate Chief Engineer, focusing on sustainability measures.