Mumbai

The Indian hotel industry saw a 4.8% RevPAR growth in 2Q24, with Hyderabad leading the gains, while Mumbai hotels topped in occupancy, ADR, and RevPAR, despite a dip in overall occupancy due to summer vacations and reduced corporate travel.

Wyndham Hotels & Resorts achieved record growth in Asia Pacific in the first half of 2024, signing over 120 hotels and opening 74 new ones, with an 8% year-on-year net room growth.

In Japan, local governments are considering and implementing lodging taxes to manage overtourism, despite opposition from hotel businesses fearing loss of guests to neighboring areas.

While The Standard International gets ready to open its first StandardX property, it's also in advanced stages as a takeover target by Hyatt.

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

The World Travel & Tourism Council forecasts that Australia's travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.

Radisson Hotel Group plans to open a new hotel in India every 20 days, aiming for widespread presence including religious destinations, with 180 hotels and 13,700 rooms in operation and in the pipeline.

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.

IHG Hotels & Resorts plans to double its presence in India to 100 hotels over the next five years, expanding in key cities and introducing the InterContinental brand in Telangana by 2029.

Japan's hotel industry experienced significant growth in 2023, achieving top global tourist destination status, with a rebound in foreign visits and high investment despite not reaching 2019 levels.