SeleQtions

In February 2024, Sydney and Melbourne, Australia, experienced record hotel occupancy and rates, attributed to Taylor Swift's Eras tour, with significant yearly increases in occupancy, average daily rates, and revenue per available room.

Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.

Centara Hotels & Resorts announced its expansion plans at ITB Berlin. Their sustainable strategy is to introduce its style of family-centric hospitality to multiple new markets, striving to become one of the planet’s top 100 hotel operators by 2027.

Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline.

The Indian hotel industry is expecting to report a 7-9 percent revenue growth in FY2025 with occupancy likely to be at decade highs.

India has now slipped to the fifth position for tourist arrivals into Maldives in January, with just over 13,000 visitors. This is per the latest data from the Maldives tourism industry and is quite different than the commentary last week from the Maldives.

In 2023, the Taj brand strengthened its presence in key metro and commercial cities, including Delhi, Cochin, Dhaka, and Bhutan. Vivanta and SeleQtions collectively added 17 hotels while Ginger signed agreements for six new hotels.

Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026.

Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast.

Wyndham Grand debuts in Kuala Lumpur and Hilton's Curio Collection enters India, while Hotel Indigo Sydney Potts Point launches after a significant refurbishment. Hyatt and IHCL plan extensive expansions in India, while Genting invests in Sentosa. The Westin Tokyo undergoes a major makeover, and Candeo Hotels integrates a historic temple in Osaka.