Mumbai

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.

Taylor Swift's concerts in Singapore led to record hotel performance in March, with significant increases in occupancy, average daily rate, and revenue per available room.

Hyatt Hotels Corporation announced the opening of Hyatt House Tokyo Shibuya. They reached an agreement with Tokyu Land Corporation earlier in the month for the 126-room hotel which includes 18 suites.

The Indian hotel industry is expecting to report a 7-9 percent revenue growth in FY2025 with occupancy likely to be at decade highs.

Radisson signed a deal to expand in Cambodia and announced even larger growth on its own across India.

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.

Las Vegas Sands’ Marina Bay Sands in Singapore’s expansion plans received another increase. Marina Bay Sands said they launched the second phase of its significant reinvestment program.

79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market.