Raffles

Las Vegas Sands increased the Marina Bay Sands expansion budget to US$8 billion for a new fourth tower with its own casino, luxury suites, arena, and more, with construction starting in mid-2025 and opening in 2031.

In Japan, local governments are considering and implementing lodging taxes to manage overtourism, despite opposition from hotel businesses fearing loss of guests to neighboring areas.

Hilton's Doubletree by Hilton brand has surpassed 100 properties in the Asia Pacific region, with significant expansions in Indonesia, Japan, India, and China, and plans for nearly 80 more properties to support their goal of exceeding 1,000 hotels in the region next year.

Seoul plans to develop floating office and hotel buildings with leisure facilities on the Han River by 2030 to enhance the river's potential and attractiveness.

Accor plans to expand its Indian portfolio by introducing 30 new hotels, adding 5,500 rooms over the next 3-5 years, and is set to open luxury hotels including Sofitel Jaipur Jawahar Circle and Raffles Jaipur.

Accor will open 100 luxury and lifestyle hotels by 2025, with plans to sign at least 50 more projects per year.

Four Seasons will develop the Four Seasons Residences at The Ocean Club in Nassau, Bahamas. This project, set to open in 2027, will include 67 Private Residences with luxurious amenities including an oceanfront pool, private cabanas, a beachfront restaurant, a spa, and more.

STR reported a 54.2% increase in China's hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG's voco Amritsar Airport and Radisson's Uday Palace Navsari targeting diverse locations.

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.

Truist remains optimistic about US hotel demand and RevPAR, favoring C-Corp stocks like HLT, MAR, and H, and recommending Hyatt and Ryman Hospitality among REITs. Hilton is expanding in Baja California, Mexico with Tapestry Collection hotels. Ashford Hospitality Trust faces lawsuits over loan defaults. Accor announced executive appointments and a new hotel in Poland with Allenort Group.