Bengaluru

The Ritz-Carlton hotels in Melbourne and Perth are being sold for approximately $500 million, attracting bids from wealthy Australians and offshore investors. Salter Brothers has purchased the Sofitel Adelaide Hotel for $154 million, marking a significant hotel transaction in Adelaide. The Interlude , an urban wellness retreat, has opened in Melbourne 's Pentridge prison, featuring unique design elements like an underground swimming pool.

China hotel RevPAR showed significant year-over-year growth of 50.4% for the week ending July 1, 2023, compared to a decline in 2019 and 7.6% decline in the same period. Vietnam's international visitor numbers reached 70% of their 2023 projection but remained below expectations due to fierce competition and an economic recession. Domestic tourism in Vietnam is also experiencing a decline. Worldwide Hotels Group made significant acquisitions in Melbourne and Singapore , representing the largest hotel transaction in Melbourne in over six years and the largest single-asset Singapore hotel transaction in Asia Pacific in 2023.

Radisson Hotel Group will open the Radisson Hotel Ploenchit Bangkok in Q2 2024, aiming to double its footprint in Thailand by mid-2024. The Laguna, a Luxury Collection Resort & Spa, Nusa Dua, Bali , will open in July 2023 after a year of renovations, including the addition of new facilities and restaurants. Legoland Shenzhen Resort , the largest Legoland Resort in the world, is set to open in 2024, featuring theme parks, water parks, and three themed hotels.

Strong RevPAR growth observed in China, Singapore, and India, indicating recovery and resilience in the Asian hotel industry. Minor Hotels plans significant expansion across multiple countries, capitalizing on pent-up demand and strategic partnerships. Radisson Hotel Group signs multiple new hotels in India, while ITC considers a potential demerger of its hotel business, reflecting evolving strategies in the market.

Ayala Land Hotels and Resorts Corp. is pushing forward with plans of increasing the number of keys in its homegrown Seda-branded hotels. Suba Group of Hotels marked another milestone in India’s Tech City – Bengaluru with the launch of Click Hotel Ayra in Seshadripuram, Bengaluru . The Novotel Jodhpur ITI Circle marks the twenty-third Novotel property opening in India.

The Ministry of Culture and Tourism in China said domestic travelers reached 274 million during the recent Labour Day Golden Week holiday, topping 120% of pre-Covid levels . Hyatt Regency Danang Resort & Spa is set to introduce a new era of exciting hospitality to Vietnam’s central coast. Rosewood Hotels & Resorts has been appointed by Eleven D&C Co., Ltd. to manage Rosewood Seoul , a new build ultra-luxury hotel set to open in 2027.

STR reported China hotel RevPAR for the week ended April 29 was up 138.2% year over year. The Association of Macao Tourist Agents said the first Labor Day holiday after lifting all Covid curbs had exceeded expectations. The General Statistics Office of Vietnam said the number of Chinese citizens traveling to Vietnam is on the rise with 112,000 visiting in April, up 61.5% year on year.

Golden Week started off with a bang in the SAR with Hong Kong reporting 165,000 people crossed the border into the city on the first day while more than 110,000 tourists from the Mainland left Hong Kong. In June,  SJM  will open the 271-room  Karl Lagerfeld Hotel  on  Cotai  in  Macau . The project was initially unveiled in 2014 but was delayed for various reasons including the pandemic. The Rosewood Ranfaru  in the  Maldives  is expected to open in 2027, stretched across a striking chain of private islands around a pristine lagoon in the South Male Atoll

Fitch Ratings said China’s domestic travel has seen a significant uptick in the first quarter of this year and is likely to gain momentum in the second quarter. Trip.com said the first round of outbound travel fever in China is coming ahead of the May Labor Day . The construction of Galaxy Entertainment’s Raffles at Galaxy Macau and Andaz Macau , as well as the resort of the phase 3 hotel project for the Cotai casino , is basically complete.

STR said China hotel RevPAR for the week ended April 15, was up 155.1% year over year. Marriott International announced it signed agreements with Vinpearl for an additional seven hotels and resorts in Vietnam , comprising more than 2,500 rooms. The Ascott Limited , a unit of CapitalLand Investment Limited, has achieved its target to secure 160,000 units by 2023 with the  signing of over 4,000 units in 1Q this year .