India

STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies. In the recent China Construction Pipeline Trend Report from Lodging Econometrics , LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms.

On Thursday, China’s new top leadership body reaffirmed Beijing’s “dynamic zero” Covid-19 policy in their first meeting since the Communist Party’s Congress last month. Chinese hotel operator Atour raised $52 million in an initial public offering in the United States. Indian Hotels Company said they plan to emerge as the most iconic and most profitable company in South Asia by 2025 and that plan is on track.

STR reported China hotel RevPAR for the week ended 11/5 was up 4.4% year over year. China’s Covid cases continue to surge with 8,824 new domestic cases reported on Wednesday. The state-run Xinhua news agency said authorities need to take a more targeted approach to tackling Covid outbreaks. Ratings agency Icra said they expect premium hotel inventory in India to increase 3.5% to 4% in the current fiscal year with an addition of around 15,500 rooms amid a recovery in demand.

Marriott International will be adding about 13-14 hotels in India under different brands in the next 12 months. Hong Kong has continued to loosen Covid restrictions , now targeting eventgoers. Hilton announced the signing of an agreement with Wondergrain Exports Private Limited to launch DoubleTree by Hilton Amritsar .

Looking at  India's  hotel sector , JLL  said contracts in  mid-market and budget brands  grew 74% between January and September 2022 as compared to the same period in 2019. Marriott International’s St. Regis Hotels and Resorts brand announced the opening of the St. Regis Goa Resort. Bengaluru-based real estate developer MS Ramaiah Developers and Builders  plans to invest about Rs 1,100 crore over two years across real estate sectors in Karnataka, Goa, and Andhra Pradesh .

Shanghai ordered mass testing of all 1.3 million residents amidst another lockdown, Wuhan locked down 900,000 people for at least five days, while in Macau the MGM Cotai casino resort was locked down after a dealer tested positive. The hospitality sector in India  is looking at rapidly adding managed hotels to its portfolio. Hong Kong -based Langham Hospitality Group has launched an upper midscale brand called Ying’nFlo .

Hotel RevPAR in China was down -35.5% year over year while down -52.5% when up against the same week in 2019. Hyatt Hotels announced the opening of Hyatt Centric Kota Kinabalu , marking the debut of the lifestyle brand in Malaysia and Southeast Asia. Absolute Hotel Services Group announced the first Absolute Collection property in Vietnam with the signing of Lamia Bao Loc Resort.

A new report from international travel industry analysts, the  Centre for Aviation , predicts the  Asia Pacific region  will no longer be the world’s largest travel region by the end of 2022. Hyatt Hotels  announced the opening of the  Fuji Speedway Hotel  in  Shizuoka, Japan , the first property within  The Unbound Collection by Hyatt  brand in Japan. Business Line reported  Accor   plans to divest its stake in Indian ventures , opting to go asset-light through management contract deals.

Japan Prime Minister Fumio Kishida  is pledging to increase inbound tourism spending to more than 5 trillion yen per year. OYO  has introduced an improved flagship  patron-facing app – CO-OYO . The Economic Times reported on  the comeback of “big fat weddings” in India .

Enova Estates SL  issued a press release on  new resorts expected to open in 2023 in the Maldives . They currently have over 160 island resorts. The Lee family has offered a takeover bid for Mulpha International Bhd, a continuation of a trend of privatizations and buyouts of public listed companies in Malaysia. Marriott International announced the signing of an agreement with Yuexiu Property to bring its Ritz-Carlton brand to downtown Wuhan in China.