Hyatt Place Butwal opened in western Nepal with 109 guestrooms, marking the third Hyatt-branded hotel in the country. Plus, more hotel deal and development news for APAC.
Japan's Seibu Holdings will acquire NY-based Ace Group International for $90M, gaining 8-hotel portfolio including NYC, Kyoto, Brooklyn, Athens locations plus creative agency Atelier Ace. Plus more hotel deal and development news items.
Chengdu has the greatest number of projects in China's total hotel construction pipeline, with 25,331 rooms under construction. Outside of China, India has the most hotel rooms under development (99,195 rooms) in Asia Pacific.
The heirs of Dusit Thani’s founder refused to approve audited 2024 financial statements, delaying auditor appointments and triggering a trading suspension.
Thailand's hotel investment market is poised for continued growth in 2025, following a report of record-breaking THB 22.3 billion in transactions for 2024.