China

TPG Angelo Gordon, in partnership with Kenedix, is purchasing the Grand Nikko Tokyo Daiba hotel from Hulic Co. for $691 million as part of its strategy to invest in opportunistic real estate in Asia.

Ascott and Jin Jiang Hotels have formed a joint venture to expand their apartment hotel brands in China, aiming to grow Quest and Tulip LODJ across upscale and midscale segments.

The Philippines' Department of Tourism plans to add over 120,000 hotel rooms by 2028 to meet rising tourism demand, aiming for 456,000 rooms to accommodate projected arrivals of 11.5 million tourists.

Australians are traveling in record numbers in 2024, with significant growth in both outbound and inbound tourism, particularly between Indonesia, Japan, and China.

Leechiu Property Consultants reported 158 new hotel projects across the Philippines, adding 40,084 rooms, with full recovery in foreign arrivals expected by 2026, generating PHP250 billion in investments and 57,000 jobs.

Golden Week saw a significant boost in tourism in China, with passenger trips and travel orders surpassing pre-pandemic levels, reflecting growing confidence in the economy.

China has introduced a visa-free policy for citizens of 17 European countries, allowing short stays of up to 15 days to boost tourism and business travel until the end of 2025.

Japan and China are emerging as top destinations for global hotel investments due to strong travel demand, economic optimism, and promising returns.

Marriott International opened its 50th property in Malaysia, the Penang Marriott Complex, featuring three hotels, while announcing plans to shift six Samhi Hotels in India to managed operations by October 2024.

JLL's latest survey forecasts mixed fortunes for the Asia Pacific hotel sector in 2024/2025, with optimism in North, South, and Southeast Asia, caution in Australasia and Greater China, and varied expectations for revenue, occupancy, and Capex investments.