Philippines

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.

The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.

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.

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

Malaysian budget hotel owners are raising room rates due to increasing operational costs and taxes, amidst pressures from unlicensed accommodations.

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.

Maybank Securities forecasts significant revenue potential for Thai gambling complexes, but warns of initial profitability challenges and limited tourism industry benefits.

Tishman Speyer partners with Diaoyutai MGM Hospitality to open Mirage by MGM Shanghai in 2027 within a new mixed-use tower at The Springs, featuring luxury rooms and upscale amenities.

Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.