Investor concerns over Human Metapneumovirus (HMPV) have shaken India's hotel and airline stocks, despite strong growth forecasts for the hospitality sector driven by surging demand and increasing supply.
Tycoon Manuel Villar Jr. plans to open his first casino in Manila by 2025, investing $1 billion in two integrated casino resorts, with the first located at Vista Mall Global South in Las Pinas and the second in the Villar City development.
Hilton announced the signing of 11 new properties in Thailand, Indonesia, and Vietnam, including the debut of the Tapestry Collection by Hilton in Southeast Asia.
ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.
In February 2024, major Indian hotel markets experienced near double-digit ADR growth and slightly higher occupancy rates, with notable increases in Hyderabad and Goa despite occupancy dips, and overall performance surpassing February 2019 levels.
Hyatt Hotels Corporation announced the opening of Hyatt House Tokyo Shibuya. They reached an agreement with Tokyu Land Corporation earlier in the month for the 126-room hotel which includes 18 suites.