The Ascott Limited

CapitaLand Investment's the Ascott Limited, is adding eight new properties to its lyf brand portfolio. The additions mark Ascott’s expansion into various global city and resort destinations including Bali, Penang, and Sydney.

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city's highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.

Today's report highlights significant growth in global search results for inbound travel to China, with Trip.com noting a nearly 40% increase in 3Q23. New properties and expansions are underway, including The Grand Mercure Lampung Hotel in Indonesia and the first Four Points by Sheraton in Kuala Lumpur. The Imperial in New Delhi is undergoing a significant reinvention, including refurbishing historical furniture and revamping its food and beverage operations.

Amara Holdings received a voluntary cash offer at 60 cents per share from a consortium linked to Albert Teo, Amara’s CEO, other members of his family, and private equity investor Dymon Asia. In the Q3 2023 China Construction Pipeline Trend Report by Lodging Econometrics , at the end of the quarter, China’s total construction pipeline reached a record high of 3,720 projects with 686,017 rooms, up 3% by projects and unchanged by rooms year-over-year. Dusit International has signed HMA and RMA agreements with Ziogreen Private Limited to manage four properties amidst the beautiful landscapes of Karnataka state, southern India .

Cushman & Wakefield reported significant growth in China's hotel industry, with domestic tourism on the rise and strong performance in the hotel market. Las Vegas Sands is embarking on a $3.3 billion expansion project in Singapore, while Wyndham Hotels & Resorts is expanding in Vietnam, including a massive complex on Bai Dai beach. Fine Acers Hotels and Resorts Pvt Ltd is partnering with Wyndham Hotels & Resorts to open a luxury Wyndham Grand Hotel & Branded Residences in Amer, Jaipur, India.

China hotel RevPAR for the week ending October 14th increased by 73.4% YoY, with a -35.5% comp from 2022, but was still down -18.3% compared to the same week in 2019. The Ascott Limited introduced The Crest Collection brand in Asia, opening three properties in Singapore, Indonesia, and Malaysia with heritage-themed hospitality experiences. Various hotel developments and transactions include Royal Orchid & Regenta's new property in Mysuru, a 4-star hotel sale in Vadodara, Lemon Tree Hotels' franchise agreement in Vadodara, Kenilworth Hotel's upcoming project in Coimbatore, Bong Sen Corp's plan to sell assets in Vietnam, and BWHSM Hotels' expansion in Bangkok. Pride Hotels Group appointed Chandrashekhar Belose as Corporate Chief Engineer, focusing on sustainability measures.

Global hotel businesses are rebounding to pre-pandemic levels except in Asia-Pacific. Vietnam lags in recovery with reduced Chinese tourism and increased flight costs, despite aggressive hotel development since 2016. Macau's August hotel occupancy averaged 88.7%, with significant visitor growth during the Golden Week, particularly from mainland China, showing signs of a robust recovery to near 2019 levels. Wyndham Hotels unveils its first Auckland hotel, Espire Hospitality launches the ZANA Forest Resort in India, and Ascott Limited partners with Vimut Hospital in Thailand to offer combined lodging and healthcare benefits.

The 434-room Conrad Seoul, a Hilton-branded hotel in South Korea, is back on the market for $750 million. Hyatt Hotels Corporation has inaugurated the Hyatt Place Kuala Lumpur, Bukit Jalil, Malaysia's first Hyatt Place and the first international hotel in the Bukit Jalil area. Iconic Penang Sdn Bhd is developing the Iconic Marjorie Hotel, a 298-room five-star Marriott property in Penang, Malaysia.

China's hotel industry saw a significant year-over-year increase in RevPAR, up 58.1% compared to a decline in the previous year. Hong Kong's tourism sector experienced a gradual recovery, with August visitor arrivals reaching 84% of pre-pandemic levels. Wharf Hotels introduced Maqo, a new premium lifestyle brand, expanding its portfolio and aligning with its "25 by 2025" growth vision. Maqo's inaugural hotel will be in Changsha, China, and it aims to provide unique, edited experiences for its guests.

China hotel RevPAR increased by 30.7% YoY but was down by -6.8% compared to 2019. South Korea aims to attract 1.5 million Chinese tourists, lifting group visit bans with incentives. H World Group refines strategy for post-pandemic tourism in China, focusing on quality growth and lower-tier cities.