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Asia-Pacific
Japan Expects Hotel Occupancy Improvement in 2024
Japan’s hotel industry experienced significant growth in 2023, achieving top global tourist destination status, with a rebound in foreign visits and high investment despite not reaching 2019 levels. -
Asia-Pacific
India Sees Double-Digit Room Rate Growth
In February 2024, major Indian hotel markets experienced near double-digit ADR growth and slightly higher occupancy rates, with notable increases in Hyderabad and Goa despite occupancy dips, and overall performance surpassing February 2019 levels. -
Asia-Pacific
Hilton Plans 75 Hotels in India
Hilton aims to triple its India portfolio to 75 hotels in three to four years, expanding into emerging markets like Ayodhya and introducing luxury brands, with a focus on tier-I markets and the growing wedding segment. -
Asia-Pacific
Hyatt Plans 7 New Hotels in India
Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024. -
Asia-Pacific
Langham’s Three Hotels in Xiamen
Langham Hospitality Group has signed management agreements for three hotels on a single plot. The newly built properties are part of Xiamen Seaworld which is China Merchant Group’s mixed-use development that is perched on the western shore of Xiamen’s main island. -
Asia-Pacific
Radisson Expanding in Cambodia and India
Radisson signed a deal to expand in Cambodia and announced even larger growth on its own across India. -
Asia-Pacific
Vietnam’s Hotel Room Supply Is on the Rise
Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026. -
Asia-Pacific
Marriott Debuts Moxy in India
Marriott International had the pleasure of debuting their Moxy Hotels brand in India while also expanding their JW Marriott brand to the city of Surat, Gujarat. -
Asia-Pacific
Nomura Predicts Chinese Tourism Level for 2024
Nomura reports that China’s outbound tourism faces significant recovery challenges through 2024-2025, due to eased supply constraints but hampered by economic issues and reduced consumer demand, with a forecasted recovery to 73% of 2019’s travel levels by year-end. -
Asia-Pacific
Singapore’s Booming MICE Market to Hit $7 Billion by 2030
Coherent Market Insights reports that Singapore’s MICE (Meetings, Incentives, Conferences, and Exhibitions) market, valued at S$3.82 billion in 2023, is expected to grow to $6.97 billion by 2030 Marriott International will operate the new W Singapore – Marina View as part of a mixed-use development in Singapor Wyndham Hotels & Resorts signed a franchise agreement for Ramada by Wyndham in Jim Corbett, Uttarakhand, India, enhancing its North Indian presence.