Melbourne

TPG Angelo Gordon, in partnership with Kenedix, is purchasing the Grand Nikko Tokyo Daiba hotel from Hulic Co. for $691 million as part of its strategy to invest in opportunistic real estate in Asia.

Leechiu Property Consultants reported 158 new hotel projects across the Philippines, adding 40,084 rooms, with full recovery in foreign arrivals expected by 2026, generating PHP250 billion in investments and 57,000 jobs.

India is poised to lead Asia Pacific's hotel market in 2024, with record-breaking hotel investments and signings, particularly in Tier-2 cities.

IHG Hotels & Resorts is expanding its presence in Thailand by introducing its new brand, Garner, and aiming to double its hotel portfolio in the country.

The Pacific Asia Travel Association (PATA) laid out tourism recovery scenarios for the Asia Pacific, predicting a slow recovery with 2024 arrivals still 31% below 2019 levels, and a range of outcomes for Thailand by 2026.

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

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.

Deloitte's 2024 Corporate Travel Report indicates rising corporate travel spending driven by increased prices and trip frequency, with significant growth expected through live events and client-related travel, alongside efforts in cost mitigation and sustainability progress.

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.

Melbourne has experienced a 21% increase in hotel rooms since 2019, with 22 new hotels and a rise in occupancy rates, making it the top city in Australia for interstate overnight trips.