Gujarat

Chinese hotel RevPAR surged by 59.6% YoY but remained 5.1% below 2019 levels for the week ending September 16th. The Philippines is close to surpassing its 2023 tourist arrival target, with 3.87 million foreign visitors contributing Php316.9 billion in revenue. Thailand aims to attract a record 40 million tourists in 2023 through visa-free systems, promotional efforts, and expanding direct flights, targeting international travelers with a focus on Chinese visitors.

Singapore Formula 1 Grand Prix expects lower attendance in 2023 but higher receipts compared to pre-Covid levels, with foreign attendees driving up hotel room rates. Rosewood Hotels & Resorts is expanding into New Zealand, adding three properties to its portfolio in the Oceania region. Mana Hotels expands beyond Rajasthan with a new homestay in Rishikesh, while IHG Hotels & Resorts plans to add more hotels to its Indian portfolio, with a focus on Holiday Inn and Holiday Inn Express brands.

In Q2 2023, the Asia Pacific hotel construction pipeline reached a record high of 1,936 projects with 401,766 rooms. Luxury, upper upscale, and upscale projects dominated the pipeline. Countries with the largest pipelines are India, Vietnam, Thailand, Indonesia, and Japan. Macau has surpassed Hong Kong as the preferred travel destination for mainland Chinese travelers in 2023, receiving nearly twice as many visitors. Around 50.9% of outbound Chinese travelers chose Macau, while Hong Kong received about 26.7%. Mainland Chinese tourists prefer destinations in East Asia and Southeast Asia. Accor is expanding its hotel offerings. They are introducing the Handwritten Collection in Thailand with the Andaman Beach Hotel Phuket, opening a Mercure hotel in Lucknow, India, and launching Lords Inn hotels in Jamnagar, Gujarat, and Kanki, West Bengal. Accor has also partnered with Reliance Industries and Renest Hotels & Resorts for new properties.

The Philippines Department of Tourism anticipates surpassing industry targets for tourism recovery this year, with foreign tourism receipts of Php 286 billion from January to July, reflecting over 66% international arrivals recovery, outperforming the ASEAN average of 54%. Macau experienced a significant 24.9% increase in visitor arrivals in July, totaling 2,759,544, with mainland China contributing 1,910,371 arrivals. The Philippines led the source market for foreign arrivals, contributing to Macau's total of 14,405,421 visitors for the first seven months of 2023, marking a 310% YoY growth. Hilton plans to open over 730 properties in mainland China in the next decade, capitalizing on rising demand from the middle class amid a tourism rebound. Hilton achieved a 69.9% occupancy rate in the Asia Pacific region during Q2 2023, with a remarkable 79% year-on-year increase in Revenue Per Available Room (RevPAR).

Malaysia is on track to surpass its international tourist target with an expected 18 million visitors, while Hong Kong saw a significant MoM increase in July, driven largely by visitors from Mainland China. Key developments include the Marriott's expansion in China and India , the transformation of Sydney's former Department of Education building into a luxury hotel, and Damac International's progress on its Maldives resort. JLL India reported mixed hotel performance, Blackstone is reinvesting in Japanese real estate due to favorable market conditions, and A bsolute Hotel Services has made key management appointments.

Vietnam's condotel market remains sluggish with excess inventory, unlikely to recover before 2025. Grand Ho Tram Strip casino resort introduces Ixora Ho Tram Fusion luxury residences to boost sales. Guangdong , China experiences high visa applications for Macau and Hong Kong due to increased tourism.

Tokyo domestic tourism bounced back to pre-pandemic levels in 2022, with 542.67 million Japanese tourists visiting, but foreign tourists declined by about 78% compared to 2019. Macau 's hotel industry showed significant recovery in June 2023, with an 89% average occupancy rate, and daily room rates increased by over 100% year over year. Beyond Stay , an Indian hotel chain, raised funds in a Pre Series A investment round to expand its presence in new locations and improve its technology infrastructure.

China hotel RevPAR up 40.6% YoY, surpassing decline from a year ago. Philippines reaches 3 million international visitor arrivals, tourism receipts increase by 502%. Accor's partnership with Sunmei Group plans to open over 400 Movenpick by Accor hotels in China.

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.

Data from Tourism Western Australia shows Singapore is now the number one source of foreign visitors, with Singaporeans accounting for 24% of all international arrivals. The Ascott Ltd. has launched Citadines Connect in Lebuh Noordin, Georgetown, Penang , a hotel situated in a two-story pre-war building. Mohegan’s Inspire Entertainment Resort , under development in Incheon, South Korea , signed a management agreement with Hanwha Hotel & Resorts for the operation of five-star hotel towers in the property.