The Ascott Limited

Despite a rebound in tourism, many Vietnamese hotels face financial troubles and are being auctioned.

The Ritz-Carlton brand will make its debut on Mexico's Caribbean coast with The Ritz-Carlton Residences, Riviera Maya, featuring 127 residences, with sales and construction starting this year and the first phase debuting in 2026.

Malaysian budget hotel owners are raising room rates due to increasing operational costs and taxes, amidst pressures from unlicensed accommodations.

The Maldivian tourism sector experienced a significant revenue decline last year, with resort revenue dropping by $529 million and total tourism revenue decreasing from $5.4 billion to $5 billion, attributed partly to a shift towards guesthouses over traditional resorts.

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.

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.

A recent implementation of unilateral visa exemptions for 13 European countries was credited for the strong growth in arrivals from the UK, France, Germany, and Russia in January.

Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged.

Las Vegas Sands’ Marina Bay Sands in Singapore’s expansion plans received another increase. Marina Bay Sands said they launched the second phase of its significant reinvestment program.

Marriott International had the pleasure of debuting their Moxy Hotels brand in India while also expanding their JW Marriott brand to the city of Surat, Gujarat.