Malaysia

China hotel RevPAR for the week ending October 14th increased by 73.4% YoY, with a -35.5% comp from 2022, but was still down -18.3% compared to the same week in 2019. The Ascott Limited introduced The Crest Collection brand in Asia, opening three properties in Singapore, Indonesia, and Malaysia with heritage-themed hospitality experiences. Various hotel developments and transactions include Royal Orchid & Regenta's new property in Mysuru, a 4-star hotel sale in Vadodara, Lemon Tree Hotels' franchise agreement in Vadodara, Kenilworth Hotel's upcoming project in Coimbatore, Bong Sen Corp's plan to sell assets in Vietnam, and BWHSM Hotels' expansion in Bangkok. Pride Hotels Group appointed Chandrashekhar Belose as Corporate Chief Engineer, focusing on sustainability measures.

Efforts to attract Chinese tourists to Southeast Asia are falling short, with drops in arrivals to Thailand, Cambodia, and Vietnam; Thailand's visa exemption offers a temporary boost. Numerous hotel developments across Asia include expansions by Amora Group, partnerships in Malaysia and Indonesia, and potential property transformations in Singapore and Australia. DigiPlus Interactive Corp. aims to resurrect a $500 million casino resort on Boracay Island, hoping for favorable response from the Marcos administration.

Macau's Golden Week holiday saw a surge in visitors, with over 932,000 arrivals and high hotel occupancy rates, mainly driven by mainland Chinese tourists. Indonesia plans a significant expansion in its tourism sector, aiming to attract up to $8 billion in investments for specific destinations. Several new hotel properties by Accor and Hilton are announced in countries including Australia, Vietnam, Sri Lanka, and Malaysia.

Philippines sees over 4 million foreign tourist arrivals in 9 months, exceeding tourism spending targets. Thailand's visa-free travel policy for Chinese tourists results in a 30% increase in hotel bookings, approaching 2019 levels. Various developments in the hotel and tourism industry, including a new skyscraper in Tokyo and changes in travel intentions worldwide.

Global hotel businesses are rebounding to pre-pandemic levels except in Asia-Pacific. Vietnam lags in recovery with reduced Chinese tourism and increased flight costs, despite aggressive hotel development since 2016. Macau's August hotel occupancy averaged 88.7%, with significant visitor growth during the Golden Week, particularly from mainland China, showing signs of a robust recovery to near 2019 levels. Wyndham Hotels unveils its first Auckland hotel, Espire Hospitality launches the ZANA Forest Resort in India, and Ascott Limited partners with Vimut Hospital in Thailand to offer combined lodging and healthcare benefits.

The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year. Trip.com said outbound travel order for the upcoming Golden Week increased nearly 20 times, and domestic travel increased more than four times over the Golden Week period last year. Accor announced their Novotel brand’s fiftieth hotel opening in Greater China with its newest destination, Novotel Xi’an Aden.

The Royal Thai Government is granting temporary tourist visa exemptions to Chinese and Kazakhstani passport holders from September 25, 2023, to February 29, 2024, to boost tourism revenue. Macao expects a high number of visitors during the upcoming Golden Week, with hotels projected to have near-full occupancy due to the Mid-Autumn Festival and National Day Holiday. Galaxy Macau has opened Andaz Macau, the largest Andaz hotel in the Hyatt brand's portfolio, featuring 700 rooms, artworks, and a direct connection to the Galaxy International Convention Center and Galaxy Arena.

CoStar and STR analysis reveal Australia's hotel market normalization as leisure demand plateaus and corporate business strengthens. Occupancy and ADR figures show progress compared to last year but remain slightly below 2019 levels. Choice Hotels APAC reports positive Q2 results in Australia and New Zealand, adding new deals and Ascend Hotel Collection locations. Hotel Indigo Tokyo Shibuya opens, featuring music-themed rooms; DoubleDragon Corp starts construction on its first overseas hotel in Hokkaido, Japan. Macau experiences impressive hotel occupancy rebound in July; IOI Properties partners with Marriott for a new hotel in Singapore's Marina View property; juSTa Rudra Resort & Spa to open in India; The Greenwood Hotels and Resorts Group invests in Northeast India expansion; The Roxy Impiana Hotel prepares for opening in Kuching, Malaysia.

Foreign investors like Goldman Sachs, KKR, and Blackstone have invested $2 billion in Japanese hotel deals this year, driven by a hotel business rebound and favorable exchange rates. Hilton plans substantial growth in Southeast Asia, introducing a new Hilton Garden Inn prototype and adding seven new hotels in Malaysia, including new brands like Curio Collection and Waldorf Astoria. Accor expands across Asia with 30 new hotels, focusing on markets like Japan, Vietnam, Indonesia, and India, while also partnering to introduce the Swissotel brand to Malaysia with Swissotel Genting Highlands.

Malaysia is on track to surpass its international tourist target with an expected 18 million visitors, while Hong Kong saw a significant MoM increase in July, driven largely by visitors from Mainland China. Key developments include the Marriott's expansion in China and India , the transformation of Sydney's former Department of Education building into a luxury hotel, and Damac International's progress on its Maldives resort. JLL India reported mixed hotel performance, Blackstone is reinvesting in Japanese real estate due to favorable market conditions, and A bsolute Hotel Services has made key management appointments.