Radisson Blu

Business travel is set to surpass pre-pandemic levels in 2024, with global spending projected to reach $1.5 trillion, driven by strong growth in the U.S. and China.

CBRE’s 2024 Global Hotels Midyear Outlook highlights modest RevPAR growth in the U.S., strong resilience in Northern Latin America, slower growth in Europe with luxury outperforming, rising occupancy in the Middle East, and increased air travel boosting Asia Pacific markets.

Singapore's hotel market is thriving with high-end travelers and strong occupancy, while Hong Kong is focusing on budget-conscious visitors as its luxury sector struggles to recover.

JLL's latest survey forecasts mixed fortunes for the Asia Pacific hotel sector in 2024/2025, with optimism in North, South, and Southeast Asia, caution in Australasia and Greater China, and varied expectations for revenue, occupancy, and Capex investments.

San Francisco’s two largest hotels have lost over $1 billion in value, now worth $553.8 million, prompting a downgrade in bond ratings and a rush to sell before foreclosure.

Thailand's cabinet extended a waiver on operating fees for hoteliers for two more years to support the tourism sector's recovery from Covid-19.

Choice Hotels International is refreshing over 50 properties in its Radisson and Radisson Blu brands with contemporary designs and personalized service, featuring Scandinavian-inspired minimalist styles.

The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.

Canadian business travel is expected to grow robustly in 2024, outpacing global and U.S. rates, with increased spending and trip frequency despite financial challenges.

Accor has opened the world's largest Mercure hotel in Singapore, featuring extensive amenities and a prime location between Chinatown and the CBD.