Bangkok

The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. ONYX Hospitality Group said they reinforced their expansion plan with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia . According to the recent Q3 2022 close of the Construction Pipeline Trend Report , Asia Pacific’s total construction pipeline, excluding China, stands at 1,881 projects.

STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies. In the recent China Construction Pipeline Trend Report from Lodging Econometrics , LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms.

STR’s global bubble chart for October 22 showed Singapore standing out in the Asia Pacific region while noting continued, steady recovery for most of the world. HG Hotels & Resorts announced a partnership with Shenzhen Bay Area Urban Construction and Development Co. Ltd. to develop a new luxury and lifestyle hotel. The Fullerton Ocean Park Hotel Hong Kong officially opened The Fullerton Spa , offering best-in-class wellness treatments for Hong Kong guests and travelers.7

The rumors about Covid in China  have reached epic proportions including 20,000 people testing positive at the Foxconn plant, thousands of holidaymakers locked in Shanghai Disney and more. Marriott International announced the signing of an agreement with Australian property developers Pelligra Group and Giannarelli Group . IHG Hotels & Resorts has officially opened its first Crowne Plaza Resort in Micronesia.

The commentary from President Xi at the National Congress in Beijing certainly did not sound like the Zero-Covid policy that has hampered tourism and business travel in and outside of China is going to change anytime soon. Anantara Chiang Mai Resort recently hosted an event to celebrate the renovations at the property. Chatrium Hospitality is set to unveil Chatrium Grand Bangkok on November 28, 2022. The hotel is located in the city’s Siam area and is an enhanced version of Chatrium’s luxury collection.

Enova Estates SL  issued a press release on  new resorts expected to open in 2023 in the Maldives . They currently have over 160 island resorts. The Lee family has offered a takeover bid for Mulpha International Bhd, a continuation of a trend of privatizations and buyouts of public listed companies in Malaysia. Marriott International announced the signing of an agreement with Yuexiu Property to bring its Ritz-Carlton brand to downtown Wuhan in China.

The number of international tourists to Cambodia  is expected to reach the pre-Covid-19 pandemic level in 2026. Indian Hotels  and other hospitality firms in India have said they are eyeing price rate hikes. IHCL recently went back on that, saying the price hikes will have to wait until November. Hyatt Hotels Corp  announced the opening of Hyatt Centric Sector 17 Chandigarh, marking the debut of the Hyatt Centric brand there.

Dajia Insurance Group Co has put three hotels in the US up for sale, hoping to generate US$1.3 billion to take advantage of an expected surge in leisure travel and resort business. U.S. hotel operator Standard International is betting on Thailand’s post-pandemic tourism recovery. Bloomberg said Standard is hoping to power an expansion in Asia that will see it open properties in popular and less-explored destinations. The new $340 million dual-tower Docklands development in Melbourne, Australia will include a huge rooftop infinity pool, spanning 35 meters when it opens in 2026.

STR reported China hotel RevPAR the week ended September 17   fell -11.5% year over year. When compared with the same week in 2019, China hotel RevPAR was down -40.1% Despite STR reporting week after week for the past several months that China hotel RevPAR has plunged again, Trip.com said hotel reservations in China surpassed pre-pandemic levels since late June . Hyatt Hotels Corporation announced the opening of Hyatt Place Bharuch . This is the second Hyatt Place hotel in Gujarat and the sixth Hyatt Place hotel in in India.

STR reported China hotel RevPAR results for the week ended September 10. RevPAR was down -12.3% year over year while down -29.3% when compared with a comparable week in 2019. Hong Kong hotels have been told to set aside just eight or 3% of their rooms, whichever is lower, to house travelers who test positive for Covid, raising the risk of insufficient space for infected people if the easing of travel curbs come into effect. Asset World Public Company Limited said they are strengthening their long term partnership with Marriott International with an agreement to launch a new Ritz-Carlton hotel in Bangkok’s heritage riverside district.