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Asia-Pacific
Latest APAC Hotel Construction Pipeline Data
STR said China RevPAR for the week ended August 13 was up 107.7% year over, up against a -28.9% comparison. According to the recent Asia Pacific, excluding China, Hotel Construction Pipeline Trend Report from Lodging Econometrics , at the end of the second quarter the region’s total construction pipeline grew to 1,891 projects/396,517. Trip.com said that off-season travel between July to September for both Australia and Southeast Asian countries showed an increase as borders reopen. -
Asia-Pacific
Amen Receives $900m Investment to Expand
Sterling Holiday Resorts , a subsidiary of Thomas Cook , said they will double its pan-India inventory to 5,000 rooms in the next three years. Saudi Arabia’s Public Investment Fund and Cain International have invested $900 million in Aman Group to help accelerate the global expansion of the company. The City of Dreams Manila integrated resort welcomed Singapore’s famous restaurant brand TungLok Signatures to Manila, Philippines. -
Asia-Pacific
Macau’s Occupancy Rate Continues to Fall
The average occupancy rate of Macau’s hotels and guesthouses fell by -6.3 percentage points year over year in June to a very weak 39.1%. Ascott Residence Trust is proposing to acquire nine quality serviced residences, rental housing and student accommodation properties across five countries from its sponsor, The Ascott Limited. Accor , Ennismore , and Funyard shared the early progress of their recently announced strategic partnership to develop the international lifestyle brand, JO&JOE, across China. -
Asia-Pacific
Australia Hotel Occupancy Dips Between June and July
STR reported Sydney, Australia hotel occupancy dipped in July from June. Occupancy in July 2022 was 65.8% while ADR was A$239.96 resulting in RevPAR of A$157.80. The Business Times reported business has picked up so much in Singapore that hotels are frantically looking for employees as staffing levels have yet to match the tourism pickup. Choice Hotels Asia Pacific said corporate travel has returned to a new normal with guests seeking value for money as work trips merge into leisure.