Radisson Red

Asia-Pacific

Radisson’s Luxury Brands Expand in Southeast Asia and the Pacific

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.
Asia-Pacific

Macau’s Golden Week Shatters Expectations with Surging Visitation Numbers

Macau’s Golden Week visitation exceeded expectations, with 769,000 people visiting in the first six days. RKM Enterprises opened Ramada by Wyndham Goa in North Goa with various amenities. Radisson Hotels Group plans to introduce its top luxury “Radisson Collection” in India and expand the Radisson RED brand in the country.
North America

Canada Is Eagerly Building Hotels

Canada ‘s construction pipeline has a total of 275 projects and 37,359 rooms, with Ontario and Toronto leading in projects and rooms. Jeff Vinik is selling his share in the company that developed Water Street in Tampa, Florida, to Cascade Investment Fund LLC . Q Group Hospitality is launching a new LGBTQ+ boutique hotel, Queen Las Vegas, in Las Vegas , Nevada, featuring themed rooms and a nightclub.
Asia-Pacific

IHG Hotels Expands in Bhutan and Bangkok

Cambodia ‘s international airports experienced a significant increase in passengers, with a 270% year-on-year growth in the first half of 2023. IHG Hotels & Resorts signed agreements for new hotels in Bhutan and Thailand , expanding its presence in these countries. Radisson Hotel Group achieved strategic growth in the APAC region, adding over 60 hotels to its portfolio, including milestone openings and signings.
North America

London to Overtake Las Vegas in Hotel Supply

Wyndham Hotels & Resorts received a much better response to their earnings report than Hilton did yesterday. Pebblebrook Hotel Trust kicked off the Lodging REIT earning season with Hersha Hospitality . Hersha Hospitality revenue was in line, EBITDA was lower than expected.
Asia-Pacific

Asia’s Hotel Rates Soar on Chinese Traveler Wave

CNBC produced a segment on how hotel rates in Asia Pacific are surging . CBRE said Australian hotel sales hit $2.14 billion in 2022, the second highest transaction volume on record The Ritz-Carlton, Fukuoka will open its doors on June 21, 2023 on the island of Kyushu in southern Japan.
Asia-Pacific

Asian Hotels Begin to See Chinese Tourists Returning

UNWTO’s forward-looking scenarios for 2023 suggests global international tourist arrivals could reach 80%-95% of pre-pandemic levels this year. Cambodia is expecting to receive up to four million international tourists this year, accelerated by China announcing its reopening policy. 2022 brought some 2.28 million international tourists to Cambodia with China making up only 106,000 of them. The Macau Hotel Association warned that local hotels may need to cap their maximum guest capacity at 70% to 89% during the Lunar New Year holiday period due to a shortage of staff in operations.
North America

Hotels Change Hands, Brands Enter New Markets

Lodging stocks were mostly lower. VCSA was down -12%, SOND was down -8% but MCG was up 5% on a new Buy rating. Northland Capital Markets initiated coverage on Selina Hospitality Group with an Outperform rating and $4.50 target price. The scheduled auction of the downtown Hilton Hotel Minneapolis , previously slated for Friday, has been postponed.
North America

IHG Opens Its Newest Hotel Indigo in New York

The DJIA ended the day down 142 points, falling after the Fed press conference after raising rates again. Nasdaq was down 86, the S&P 500 fell 24 points and the 10 year treasury yield was unchanged at 3.50%. Citigroup cut their ratings on Hilton and Marriott to Neutral from Buy. US RevPAR was up 16.7% year over year while RevPAR was up 13.7% versus the same week in 2019.
Asia-Pacific

Japan Tourism Numbers Are Finally Going Up

The number of foreign visitors to Japan rose to nearly 500,000 in October, the first month it fully reopened to overseas visitors after more than two years of being closed due to Covid restrictions. Visitor arrivals to Macau in October totaled 580,333, up just 4% from September despite October being a month with a Golden Week. Radisson Hotel Group is planning to grow its portfolio in India from 140 hotels to 200 in FY24.