Ramada

Asia-Pacific

China Sees RevPAR Surge 54% Year-Over-Year

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.
Asia-Pacific

Singapore’s Booming MICE Market to Hit $7 Billion by 2030

Coherent Market Insights reports that Singapore's MICE (Meetings, Incentives, Conferences, and Exhibitions) market, valued at S$3.82 billion in 2023, is expected to grow to $6.97 billion by 2030 Marriott International will operate the new W Singapore – Marina View as part of a mixed-use development in Singapor Wyndham Hotels & Resorts signed a franchise agreement for Ramada by Wyndham in Jim Corbett, Uttarakhand, India, enhancing its North Indian presence.
Asia-Pacific

Hotel Revenue Is Growing in Asia and Latin America

79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market.
Asia-Pacific

Outbound Chinese Travel Preferences Shift to Singapore, Europe and South Korea

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.
Asia-Pacific

Ultraluxury Resort Boom in Japan

Asian ultraluxury resort companies are expanding into Japan to cater to wealthy overseas travelers and take advantage of the weak yen, with Soneva Holdings planning to open resorts in Japan by 2027 and investing 100 billion yen in new properties. Foreign investment in Japanese hotels increased significantly in recent years, with 2022 seeing a sixfold increase compared to the previous year, and an expected total of 128.5 billion yen in investments in the first six months of the current year. International hotel brands like InterContinental, Wyndham, Marriott, Hyatt, and Accor are actively expanding their presence in various regions, including India, Vietnam, China, Thailand, and Australia, offering a diverse range of accommodations and amenities.
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.
Asia-Pacific

Asia Pacific Hotel Pipeline Hits All-Time High

In Q2 2023, the Asia Pacific hotel construction pipeline reached a record high of 1,936 projects with 401,766 rooms. Luxury, upper upscale, and upscale projects dominated the pipeline. Countries with the largest pipelines are India, Vietnam, Thailand, Indonesia, and Japan. Macau has surpassed Hong Kong as the preferred travel destination for mainland Chinese travelers in 2023, receiving nearly twice as many visitors. Around 50.9% of outbound Chinese travelers chose Macau, while Hong Kong received about 26.7%. Mainland Chinese tourists prefer destinations in East Asia and Southeast Asia. Accor is expanding its hotel offerings. They are introducing the Handwritten Collection in Thailand with the Andaman Beach Hotel Phuket, opening a Mercure hotel in Lucknow, India, and launching Lords Inn hotels in Jamnagar, Gujarat, and Kanki, West Bengal. Accor has also partnered with Reliance Industries and Renest Hotels & Resorts for new properties.
Asia-Pacific

Hilton to More Than Double Its Luxury Hotels in Asia Pacific

The FIFA Women's World Cup 2023 generated $2.98 billion in travel and retail spending in NSW, boosting the economy and drawing record audiences to hospitality venues. Hilton plans to open 25 new luxury hotels in the Asia Pacific region, including its Waldorf Astoria brand in countries like Malaysia, Vietnam, and India. Hotel Properties received approval for a S$1-2 billion project to redevelop prime properties on Orchard Road. The redevelopment includes twin skyscrapers, retail, office, residential spaces, and a performance theater, making it Orchard Road's largest property redevelopment.
North America

Hilton and Hyatt Get Analyst Thumbs-Up

Major indices, including DJIA, Nasdaq, and the S&P 500, experienced significant drops. BHR reached a new low, and Bernstein and B.Riley adjusted ratings and price targets for several key hotels. Hotel Transactions & Development**: Numerous hotel properties underwent ownership changes, refinancing, or development, with notable mentions like the Delta Hotels by Marriott New York Times Square and the Four Seasons Private Residences Las Vegas nearing completion. Aimbridge Hospitality strengthened its team, Melia Hotels announced multiple openings in Mexico, and Selina Hospitality launched a new location in Evia, Greece.