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Asia-Pacific
Vietnam’s Booming Hotel Sector
The global hotel industry is seeing increased activity with notable transactions in Vietnam, Macau, Japan, Sri Lanka, the Philippines, Thailand, and India. Key deals include Marriott International’s operation of seven hotels from Vinpearl in Vietnam, Accor’s new Novotel in Nara, Japan, and DoubleDragon’s launch of the largest hotel in Bonifacio Global City in the Philippines. Several hotel brands are expanding their footprints, with Wyndham Hotels & Resorts signing two agreements with Fulcrum Ventures Asia and Marriott International’s Fairfield brand entering Agra, India. -
Asia-Pacific
Chinese Domestic Tourism Surges During May Day Holiday
Chinese domestic tourism rebounds strongly, reaching 119% of pre-pandemic levels during the May Day holiday, while international travel remains slow. Fitch Ratings highlights the encouraging recovery trajectory of the domestic tourism industry, driven by pent-up demand and limited outbound flight options. Despite the increase in domestic trips, spending remains nearly flat due to factors such as low-income travelers, visits to lower-tier cities, and short-distance trips. -
Asia-Pacific
Singapore Has Another 1 Million Visitor Month
The Singapore Tourism Board said 1.13 million tourist arrivals were recorded in April, the second consecutive month of more than a million arrivals. The Vietnam National Administration of Tourism believes they may attract 10 million foreign tourist arrivals this year, surpassing the target of 8 million previously set. Savills Hanoi said the hospitality industry of Vietnam’s capital city of Hanoi is on the mend on the back of surges in both international and domestic tourist arrivals . -
Asia-Pacific
Saudi Arabia Signs to Get IHG, Accor and Rotana Hotels
STR reported China hotel data for the week ended May 6. Hotel RevPAR in China was up 140.9% year over year. The South China Morning Post said Macau’s casinos are still struggling with finding labor as hotel rooms stay shut and the resorts are unable to fully satiate the booming demand from mainland China tourists . Araiya Hotels and Resorts and Kamakhya Hospitality Services Private Limited announced plans for a new urban resort Soul by Araiya, Dharamshala, A Kamakhya Hotel , anticipated to open in Q4 2023. -
Asia-Pacific
Cambodia to Revive Coastal Tourism Projects
A white paper on the Corporate Travel Management Market said some 84.5% of companies in China are expecting an increase in domestic travel business budgets for 2023 . Cambodia is making plans to finish developing large tourist areas along its coast on the Gulf of Thailand. Dusit Hotels and Resorts is set to expand its global and domestic footprints by opening three hotels in the next 30 days, including two new properties in Bangkok. -
Asia-Pacific
Chinese Domestic Tourism Posts Strong Golden Week Holiday Numbers
The Ministry of Culture and Tourism in China said domestic travelers reached 274 million during the recent Labour Day Golden Week holiday, topping 120% of pre-Covid levels . Hyatt Regency Danang Resort & Spa is set to introduce a new era of exciting hospitality to Vietnam’s central coast. Rosewood Hotels & Resorts has been appointed by Eleven D&C Co., Ltd. to manage Rosewood Seoul , a new build ultra-luxury hotel set to open in 2027. -
Asia-Pacific
Macau Labor Day Numbers Exceed Expectations
STR reported China hotel RevPAR for the week ended April 29 was up 138.2% year over year. The Association of Macao Tourist Agents said the first Labor Day holiday after lifting all Covid curbs had exceeded expectations. The General Statistics Office of Vietnam said the number of Chinese citizens traveling to Vietnam is on the rise with 112,000 visiting in April, up 61.5% year on year. -
Asia-Pacific
Oyo May Have Turned Cash-Flow Positive
How high will be too high for May Day Golden Week in China as reports continue to pour in about terrific business, soaring room rates, and enormous train ridership. The Macau Government Tourism Office said they were predicting 70,000 visitors a day during the holiday period. Oyo said it turned cash flow positive in the fourth quarter of FY2023 in an internal note to employees . -
Asia-Pacific
Vietnamese Outbound Travel Rises Sharply
Vietnamese travelers are said to be opting for outbound tours due to the significant increase in the price of domestic flights as the holiday season approaches, according to travel agents and tour operators. The South China Morning Post said hotel room rates in Hong Kong are surging ahead of the Labour Day holiday. The number of visitor arrivals to Macau in March rose by 271.4% year over year to 1,956,867, according to the Statistics and Census Service. -
Asia-Pacific
China Outbound Travel to Spike in Early May
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.