Nha Trang

Minor International plans to reduce $7 billion in liabilities by launching a real estate investment trust, while expanding its global hospitality portfolio, including new ventures in Japan and Singapore.

Las Vegas Sands increased the Marina Bay Sands expansion budget to US$8 billion for a new fourth tower with its own casino, luxury suites, arena, and more, with construction starting in mid-2025 and opening in 2031.

Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.

Hyatt has launched Alila Shanghai in the Jing'an area, marking the first Urban Alila Resort-style hotel in Greater China, featuring 186 rooms, luxury amenities, and exclusive access to Zhangyuan.

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

ForwardKeys data reveals that Asia Pacific destinations have seen a travel recovery of over 50% of pre-pandemic international arrivals in the first three quarters of the year, with fourth-quarter bookings improving. Marriott International has opened three premium brand hotels in Vietnam, expanding its portfolio to 19 hotels in the country. S Hotels and Resorts will invest $27 million in renovating resorts in Thailand and Fiji, including upgrades to three SAii Resorts and Outrigger Fiji Beach Resort, with renovations starting in 2023 and premium rooms available for booking from December 2023.

China's travel and tourism sector is projected to grow by 150% to $1.48 trillion by the end of 2023 and contribute over $4 trillion to the economy by 2033, with significant job growth. Asset World Public Company Limited partners with IHG to launch the InterContinental Chiang Mai The Mae Ping, part of a larger mixed development project in Thailand. NH Hotel brand plans to build a 12-story hotel near Sydney Airport, while Fusion Hotel Group opens HIIVE by Fusion Binh Duong in Vietnam, emphasizing "Workation" tourism.

China hotel RevPAR increased by 30.7% YoY but was down by -6.8% compared to 2019. South Korea aims to attract 1.5 million Chinese tourists, lifting group visit bans with incentives. H World Group refines strategy for post-pandemic tourism in China, focusing on quality growth and lower-tier cities.

HVS Anarock  released their Hotels & Hospitality Overview for  India for the second quarter. The Macao Government Tourism Office said Macau received over 93,000 daily visitors in the first three days of August, up from an average of 89,000 daily visitor arrivals in July. The Tourism Authority of Thailand is turning its focus to the Middle East with the goal of attracting 400,000 visitors from the region this year

China's hotel industry shows strong recovery with a significant increase in RevPAR, benefiting companies like STR and driving pent-up travel demand, particularly from Chinese tourists. Major developments in the hospitality sector are underway in various locations, including Thane (Maharashtra) where Oberoi Realty plans to develop a luxury hotel managed by Marriott International or Hyatt, and Dhaka (Bangladesh) with multiple new five-star hotels expected to open in the coming years. Hotel projects and expansions are also taking place in Nagoya (Japan), Tokyo's Shinjuku area, San Fernando (Pampanga, Philippines), and Nha Trang (Vietnam), indicating growth and investments in these respective regions.