Macau

Hilton will increase investment in China, continuing rapid expansion as their fastest-growing international market with 671 hotels and a strong pipeline of new properties.

Hilton plans to open around two dozen new Hilton Garden Inn hotels in China over the next year, including locations in Beijing, Nanjing, Chengdu, Chengde, and Jinan.

Despite a rebound in tourism, many Vietnamese hotels face financial troubles and are being auctioned.

Banyan Tree Higashiyama Kyoto, opening Q3 2024, will be Banyan Tree's first Japan hotel, featuring 52 guestrooms, a spa, and two dining options.

The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to 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.

Oyo is seeking to raise $80-$90 million from InCred's family offices at a reduced valuation to pay off debt and refile for an IPO.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.

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.

The Q1 2024 Hotel Construction Pipeline Trend Report shows significant growth in the Asia Pacific region's hotel construction, with a 7% increase in projects and a 2% increase in rooms year-over-year, led by India, Vietnam, and Indonesia.