Cambodia

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.

Marriott International’s Ritz-Carlton is presenting a newly elevated experience at The Ritz-Carlton Club across its Asia Pacific hotels, joining a successful launch in Mainland China last summer. Hanwha Hotels & Resorts signed a memorandum of understanding with Lodgis Hospitality Holdings to forge a strategic partnership to mutually boost each of their hotel and resort portfolios. New Zealand’s Sotheby’s International Realty is listing an exclusive Queenstown  development site, expected to sell for more than $40 million.

UNWTO’s forward-looking scenarios for 2023 suggests global international tourist arrivals could reach 80%-95% of pre-pandemic levels this year. Cambodia is expecting to receive up to four million international tourists this year, accelerated by China announcing its reopening policy. 2022 brought some 2.28 million international tourists to Cambodia with China making up only 106,000 of them. The Macau Hotel Association warned that local hotels may need to cap their maximum guest capacity at 70% to 89% during the Lunar New Year holiday period due to a shortage of staff in operations.

CoStar published an article on Swire Hotels and its plans to expand The House Collective to destinations like Tokyo and Shenzhen Bay in China. Pullman Orchard is expected to open its doors within the next month, located in the heart of Orchard Road in Singapore . Banyan Tree Group said they continue to expand one of their latest brand concepts, Homm, with two new properties.

Shanghai ordered mass testing of all 1.3 million residents amidst another lockdown, Wuhan locked down 900,000 people for at least five days, while in Macau the MGM Cotai casino resort was locked down after a dealer tested positive. The hospitality sector in India  is looking at rapidly adding managed hotels to its portfolio. Hong Kong -based Langham Hospitality Group has launched an upper midscale brand called Ying’nFlo .

Fitch Ratings revised the Maldives’ outlook to Negative from Stable while affirming its Long Term Currency Issuer Default Rating at B-. Hilton announced plans to expand the presence of Conrad Hotels & Resorts through Conrad Singapore Orchard . Singapore’s Far East Organization is planning to develop a new hotel in Sydney’s Rocks district , with a proposal to redevelop the Clocktower Square with a luxury new property.

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.

JLL’s Hotels & Hospitality Group’s  latest  Hotel Investor Sentiment Survey suggests hotel investment in  Asia Pacific  will continue to recover in the fourth quarter of 2022 and into 2023 with more investors looking to deploy the highest levels of capital since the pandemic started. Fortune Park Hotels , a unit of ITC Ltd ., said they are growing upwards of 20% in revenues over 2019-2020 numbers. Accor announced further expansion in India with the signing of Mercure Chandigarh Tribune Chowk , scheduled to open late 2023 and Novotel Mohali Airport Road, scheduled to open in 2026.

STR reported China hotel RevPAR for the week ended 8/20 was up 89.7% year over year, up against an easy -43.4%. Cambodia’s Ministry of Tourism said that while tourism is recovering, almost 50% of businesses in Cambodia’s main tourism hub of Siem Reap are still closed . In India, mid-sized hotel brands have embarked on aggressive plans and are signing up hotels at a record pace, encouraged by a major turnaround in performance across the country.

The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. Accor , Ennismore , and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China.