Philippines

Asia-Pacific

Banyan Group to Open Kyoto Hotel in Q3 2024

Banyan Tree Higashiyama Kyoto, opening Q3 2024, will be Banyan Tree’s first Japan hotel, featuring 52 guestrooms, a spa, and two dining options.
Asia-Pacific

ITC Shareholders Okay Hotel Spin-Off

ITC shareholders approved the company’s plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.
Asia-Pacific

India Okays ITC Spinning Off Its Hotel Business

The Competition Commission of India approved ITC Ltd’s demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.
Asia-Pacific

Accor Opens Its 700th Hotel in China

Accor has opened its 700th hotel in China, the Sofitel Shanghai North Bund, coinciding with the Sofitel brand’s sixtieth anniversary and the China-France Year of Culture and Tourism.
Asia-Pacific

South Korean Hotel Rates Surge 43%

In the first quarter of 2024, South Korea’s hotel industry saw significant growth in average daily rates and RevPAR, driven by key tourist destinations, but investment activity remained subdued despite limited future supply and expected continued success in luxury and upscale segments.
Asia-Pacific

APAC Hotel Construction Pipeline Rises 7% Year-Over-Year

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.
Asia-Pacific

Minor Aims to Add 50 Hotels in India

Minor Hotels plans to open 50 new hotels in India over the next decade, focusing on luxury and upscale segments, while targeting specific opportunities in wellness, lifestyle, and historic venues, and emphasizing partnership-based management.
Asia-Pacific

Hotel Franchising Doubles in Southeast Asia

A new report says that hotel franchising is rapidly expanding in Southeast Asia, providing local hotel owners significant growth opportunities despite market challenges.