Asia-Pacific

Oyo is seeking to raise $80-$90 million from InCred's family offices at a reduced valuation to pay off debt and refile for an IPO.

SkyCity Entertainment may sell its Adelaide casino to Delaware North after agreeing to pay fines at its casino operations.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.

In the first quarter of 2024, South Korea’s hotel industry saw significant growth in average daily rates and RevPAR, driven by key tourist destinations, but investment activity remained subdued despite limited future supply and expected continued success in luxury and upscale segments.

Japan's hotel business has seen impressive RevPAR growth over the past 15 months due to a late post-pandemic reopening, high inflation, international demand, and a depreciating yen – all despite minimal return of Chinese travelers.

After the acquisition of Minacia, Star Asia will have an additional 5,100+ rooms from 39 limited service hotels under its management.

The Q1 2024 Hotel Construction Pipeline Trend Report shows significant growth in the Asia Pacific region's hotel construction, with a 7% increase in projects and a 2% increase in rooms year-over-year, led by India, Vietnam, and Indonesia.

The Mandai Rainforest Resort, an eco-friendly resort operated by Banyan Tree and featuring 338 rooms including unique treehouses, is set to open in Singapore in early 2025, following delays due to the Covid-19 pandemic.

The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.

KKR and Marriott International announced their entry into Japan's midscale hospitality market, with the conversion of 14 acquired Unizo hotels into Four Points Express by Sheraton, marking Marriott's midscale debut in Asia Pacific.