SureStay Studio

In 2024, the Maldives surpassed 500,000 visitors, led by China as the top source, followed by Russia, Italy, and the UK, with an average stay of 7.8 days.

Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

Last week BP plc completed the acquisition of TravelCenter of America Inc . Service Properties Trust received $379.3 million in cash as part of the transaction. Sonder Holdings was cut to Perform from Outperform by Oppenheimer and InterContinental Hotels Group was upgraded to Neutral from Sell by Redburn. The Baird/STR Hotel Stock Index rose 1.4% in April from March. The Hotel Brand sub-index rose 2.5% from March while the Hotel REIT sub-index was down -2.6%.

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.

Adelaide hosting the Australian Football League’s Gather Round and LIV Golf in April 2023 has resulted in a boost in the market’s hotel occupancy on the books. 35.7% of Americans surveyed are aware that Japan is now open for travel with Asian Americans at 57% and 41.3% of those living in Western US. BWH Hotels Group said they are continually expanding with six new signings of properties in Pakistan and Vietnam .