Seoul

Asia-Pacific

Sri Lankan Billionaire Plans Two Luxury Hotels by 2025

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.

Alan Woinski | 2 months ago

Asia-Pacific

IHG Signs Deal for First Kashmir Hotel

IHG Hotels & Resorts will open its first hotel in Kashmir, voco Srinagar, in late 2026, featuring 95 rooms, diverse dining, and meting facilities – marking the sixth voco hotel in India.

Alan Woinski | 2 months ago

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.

Alan Woinski | 3 months ago

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.

Alan Woinski | 4 months ago

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.

Alan Woinski | 4 months ago

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.

Alan Woinski | 4 months ago

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.

Alan Woinski | 4 months ago

Asia-Pacific

Luxury Hotel Brands Flood Into Seoul

Marriott International expands its presence in Seoul while luxury brands like Aman Group, Rosewood Hotels & Resorts, and IHG Hotels & Resorts are also entering the South Korean market.

Alan Woinski | 4 months ago

Asia-Pacific

Seoul Plans a Floating Hotel

Seoul plans to develop floating office and hotel buildings with leisure facilities on the Han River by 2030 to enhance the river's potential and attractiveness.

Alan Woinski | 5 months ago

Asia-Pacific

Japan Expects Hotel Occupancy Improvement in 2024

Japan's hotel industry experienced significant growth in 2023, achieving top global tourist destination status, with a rebound in foreign visits and high investment despite not reaching 2019 levels.

Alan Woinski | 5 months ago