China

IHG Hotels & Resorts is expanding its presence in Thailand by introducing its new brand, Garner, and aiming to double its hotel portfolio in the country.

Japan set a new monthly record of 3.29 million foreign visitors in July, driven by the weak yen and summer holidays.

Banyan Group has launched its first Banyan Tree hotel in Japan, located in Kyoto, and plans further expansion with four additional properties in development.

The majority of projects are concentrated in the upper midscale and upscale segments, which account for 69% of the projects and 65% of the rooms in the pipeline. This focus on mid-to-high-end properties suggests a market shift toward catering to more affluent travelers.

Thai hotels are seeking compensation from the German Embassy and the Tourism and Sports Ministry for losses due to the collapse of German tour company FTI Group.

Nearly 3,000 new hotel rooms are under construction in Macau, with seven more projects planned, while neighboring Hengqin offers cheaper accommodation alternatives.

Alliance Global Corp plans to spend nearly $170 million this year, mainly on upgrading facilities at Newport World Resorts and developing Westside City.

While The Standard International gets ready to open its first StandardX property, it's also in advanced stages as a takeover target by Hyatt.

Fitch Ratings revised its 2024 outlook for APAC lodging to improving from neutral due to robust recovery in travel and RevPAR in 1Q24, anticipating strong rebound in China's outbound tourism to support overall APAC hotel occupancy and growth.

The World Travel & Tourism Council forecasts that Australia's travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.