Philippines

H World Group approved a three-year, $2 billion shareholder return plan, including dividends and repurchases, effective from July 23.

Alliance Global Corp plans to spend nearly $170 million this year, mainly on upgrading facilities at Newport World Resorts and developing Westside City.

Sri Lankan billionaire Dhammika Perera plans to open two luxury hotels, a JW Marriott in Negombo and a Ritz-Carlton in Mirissa, by the end of 2025 after delays due to economic downturn.

The Philippine government is enhancing flight availability and establishing new routes to boost tourism from key and emerging markets.

Alongside a relatively strong projected occupancy rate this summer, one of Macau’s most notable hotel failures has reopened its doors despite bankruptcy.

Thailand's cabinet extended a waiver on operating fees for hoteliers for two more years to support the tourism sector's recovery from Covid-19.

Fitch Ratings projects China outbound tourism to the Asia Pacific region will recover to 86% of pre-Covid levels in 2024, with full APAC tourism recovery expected by the first half of 2025.

Despite a rebound in tourism, many Vietnamese hotels face financial troubles and are being auctioned.

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

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