Pullman

India's hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism.

Oberoi Group plans to open 50 new hotels by 2030, doubling the number of rooms under management.

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.

Extended Stay America announced its growth outlook through franchising, following the momentum from a strong year of milestones, including 20% growth of its franchise portfolio across its family of brands.

Choice Hotels International purchased more shares in Wyndham Hotels & Resorts in its unsolicited exchange offer to acquire the company. The Baird/STR Hotel Stock Index rose 9.3% in November, with the Hotel REIT sub-index up 7.6% year-to-date and the Hotel Brand sub-index up 30.6% year-over-year. BCD Travel forecasts a global decrease in airfares and a 6.8% increase in hotel rates in 2024.

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.

STR reported strong hotel performance in China, with an 88.7% year-over-year increase in RevPAR for the week ending October 28th. The region is showing signs of rapid post-pandemic recovery, reaching occupancy levels similar to Europe and America. Macau recorded over 22.72 million visitor arrivals, with a recent increase in daily arrivals, and the first 10 months of the year reaching 68% of 2019 levels. Various hotel-related developments and partnerships were announced by brands like IHG, Accor, and CapitaLand Ascott Trust across Asia, including new property openings, divestments, and expansions, highlighting continued growth in the region's hospitality industry.

Accor aims for a record year in hotel signings across Asia, focusing on Premium, Midscale, and Economy divisions. Thailand offers visa waivers to Indian and Taiwanese tourists to boost its tourism sector. Macau experiences increased hotel occupancy rates, with significant construction plans for additional rooms.

Hilton outperforms in US lodging earnings season, with impressive results and a strong development pipeline. Dream Las Vegas project shows signs of revival as financing issues are being resolved. Club Med announces a series of exciting international resort developments and a shift to exclusive 4 and 5-star offerings.

Sentosa Island in Singapore is on track to recover its pre-pandemic visitor numbers within one to two years, with new projects like Raffles Sentosa Resort & Spa and Sentosa Sensoryscape expected to boost visitation. Macau SAR experienced a -28.6% decline in visitor arrivals in September, but it anticipates a potential increase in October, aiming to reach 24 million visitors by the end of the year. Accor has become the world's largest player in extended-stay hotels outside of the United States, offering various brands such as Novotel Living and Adagio, with plans to open new properties in different locations.