Busan

Accor Greater China announced a dual-branded project on Banping Island in Wenzhou, featuring the debut of Peppers Edge and an MGallery luxury resort, both opening in late 2027.

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.

Las Vegas Sands’ Marina Bay Sands in Singapore’s expansion plans received another increase. Marina Bay Sands said they launched the second phase of its significant reinvestment program.

In China, hotel RevPAR for the week ended December 2nd saw a significant year-over-year increase of 55.6%, contrasting with a -2.6% decline in the previous year. However, compared to the same week in 2019, there was a -7.4% decrease. Marriott International announced the opening of the Courtyard by Marriott Perth, Murdoch in two months. AppleOne Group has started constructing the JW Marriott Panglao Island Resort & Residences in Bohol, Philippines, expected to complete in 2027.

Phuket's hotel market saw strong growth in the first half of 2023, driven by increased flight volumes, with Russia and China as top tourism markets, and higher room rates post-pandemic. Accor anticipates a surge in hotel conversions due to stricter lending rules, leading to more independent Thai hotel owners seeking franchising, rebranding, or conversion opportunities. Macau plans to invest in attracting foreign tourists but faces challenges due to airport expansion. Wyndham opens its first Wyndham Grand hotel in South Korea, and S Hotels and Resorts launches SO/Maldives in the CROSSROADS Maldives.