Mumbai

Strong passenger demand, in-person events, and positive industry momentum are driving business travel growth, with global passenger demand up 9.1%, hotel occupancy nearing 70%, and steady travel demand expected through the next quarter.

Wyndham Hotels & Resorts will open their first luxury hotel in India next year in Udaipur, while expanding their presence in the country with more hotel openings and strategic alliances.

Banyan Group has launched its first Banyan Tree hotel in Japan, located in Kyoto, and plans further expansion with four additional properties in development.

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.