Japan

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

The Philippines aims for 7.7 million tourists in 2024 despite challenges, with South Korea as the top source market and a significant increase in visitor receipts this year.

India, Vietnam, Indonesia, Thailand, and Japan lead this quarter’s hotel construction pipeline in the APEC region. China doesn’t make an appearance.

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.

The majority of Thais plan to travel more this year, favoring bucket list trips and domestic destinations like Chiang Mai and Phuket, with Japan as the top international choice.

Alongside a relatively strong projected occupancy rate this summer, one of Macau’s most notable hotel failures has reopened its doors despite bankruptcy.

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.

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

Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand's sixtieth anniversary and the China-France Year of Culture and Tourism.

In the first quarter of 2024, South Korea’s hotel industry saw significant growth in average daily rates and RevPAR, driven by key tourist destinations, but investment activity remained subdued despite limited future supply and expected continued success in luxury and upscale segments.