Indonesia

Asia-Pacific

ITC Shareholders Okay Hotel Spin-Off

ITC shareholders approved the company’s plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.
Asia-Pacific

Japan’s RevPAR Impresses Despite Yen Depreciation

Japan’s hotel business has seen impressive RevPAR growth over the past 15 months due to a late post-pandemic reopening, high inflation, international demand, and a depreciating yen – all despite minimal return of Chinese travelers.
Asia-Pacific

Thailand Struggles to Articulate Its Gaming Strategy

A 60 member House committee in Thailand that is tasked with considering the possibility of developing Thailand’s first legal casinos continues to have trouble completing the task at hand.
Asia-Pacific

Sri Lanka Steals Tourism Share From Maldives

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.
Asia-Pacific

Fosun Explores Selling a Stake in Club Med

Fosun International was reported by Reuters to be exploring the sale of a minority stake in Club Med, targeting a valuation of US$800 million for the whole business. Reuters said Fosun has been in discussions informally with potential buyers and advisors about the sale but no firm bid has emerged.
Asia-Pacific

Indian Hotels Company Signed 32 New Hotels in 2023

In 2023, the Taj brand strengthened its presence in key metro and commercial cities, including Delhi, Cochin, Dhaka, and Bhutan. Vivanta and SeleQtions collectively added 17 hotels while Ginger signed agreements for six new hotels.
Asia-Pacific

Vietnam’s Hotel Room Supply Is on the Rise

Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026.