SeleQtions

Singapore’s hotel sector is experiencing steady growth driven by tourism, lifestyle brands, and evolving accommodation trends, though recovery is hampered by low visitor numbers from China.

Macau had 2,928 hotel rooms under construction by the end of 2024, with a total of 4,229 potential new rooms if all planned projects are approved.

Hilton and Juniper Hotels are expanding their presence in Bengaluru with new hotel acquisitions and developments, offering upscale accommodations and extensive amenities in key city locations.

The Indian hospitality industry is experiencing strong investment growth in greenfield hotel developments, particularly in tier 2 and 3 cities, with investments rebounding to pre-Covid levels and expected to surge further in 2024.

Capella Hotels announced the opening of Capella Kenting, a world-class resort in Southern Taiwan, set for 2028, featuring Taiwan's largest hotel rooms and extensive luxury amenities.

The World Travel & Tourism Council forecasts that Australia's travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.

Banyan Tree Higashiyama Kyoto, opening Q3 2024, will be Banyan Tree's first Japan hotel, featuring 52 guestrooms, a spa, and two dining options.

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.

Maybank Securities forecasts significant revenue potential for Thai gambling complexes, but warns of initial profitability challenges and limited tourism industry benefits.

In February 2024, major Indian hotel markets experienced near double-digit ADR growth and slightly higher occupancy rates, with notable increases in Hyderabad and Goa despite occupancy dips, and overall performance surpassing February 2019 levels.