Shanghai

According to the latest China Construction pipeline Trend Report from Lodging Econometrics, China’s hotel construction pipeline ended 2023 with record-breaking project and room counts

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.

Sydney hotels achieved their highest occupancy levels on New Year’s Eve at 94% followed by 93.8% on December 2nd. There were only two days in the month when occupancy was not above the 60% mark.

CapitaLand Investment's the Ascott Limited, is adding eight new properties to its lyf brand portfolio. The additions mark Ascott’s expansion into various global city and resort destinations including Bali, Penang, and Sydney.

Malaysia led Southeast Asia in foreign tourist arrivals in 2023 with 26 million visitors, followed by Thailand with 24.6 million. Vietnam attracted 12.6 million foreign tourists, reaching only 70% of pre-pandemic levels, while Cambodia's recovery rate was at 92.48%. Vietnam's National Authority of Tourism set ambitious goals for 2024, aiming to match pre-pandemic tourism levels despite past challenges. The Philippines exceeded its 2023 tourism target, welcoming over five million international tourists and surpassing pre-pandemic international tourism revenue. Dusit Hotels and Resorts opened Dusit Princess Phatthalung in Thailand, its first in the far south of the country. Regal Hotels International announced a partnership with Saudi Arabia's Ministry of Investment to build about 100 hotels globally, with a significant focus on the Middle East.

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city's highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.

Today's report highlights significant growth in global search results for inbound travel to China, with Trip.com noting a nearly 40% increase in 3Q23. New properties and expansions are underway, including The Grand Mercure Lampung Hotel in Indonesia and the first Four Points by Sheraton in Kuala Lumpur. The Imperial in New Delhi is undergoing a significant reinvention, including refurbishing historical furniture and revamping its food and beverage operations.

Amara Holdings received a voluntary cash offer at 60 cents per share from a consortium linked to Albert Teo, Amara’s CEO, other members of his family, and private equity investor Dymon Asia. In the Q3 2023 China Construction Pipeline Trend Report by Lodging Econometrics , at the end of the quarter, China’s total construction pipeline reached a record high of 3,720 projects with 686,017 rooms, up 3% by projects and unchanged by rooms year-over-year. Dusit International has signed HMA and RMA agreements with Ziogreen Private Limited to manage four properties amidst the beautiful landscapes of Karnataka state, southern India .

Asian ultraluxury resort companies are expanding into Japan to cater to wealthy overseas travelers and take advantage of the weak yen, with Soneva Holdings planning to open resorts in Japan by 2027 and investing 100 billion yen in new properties. Foreign investment in Japanese hotels increased significantly in recent years, with 2022 seeing a sixfold increase compared to the previous year, and an expected total of 128.5 billion yen in investments in the first six months of the current year. International hotel brands like InterContinental, Wyndham, Marriott, Hyatt, and Accor are actively expanding their presence in various regions, including India, Vietnam, China, Thailand, and Australia, offering a diverse range of accommodations and amenities.

China experiences a significant year-over-year increase in hotel **RevPAR**, while **India** anticipates robust growth in the hotel industry, driven by domestic and international tourism. Sri Lanka aims to revive its economy by offering free tourist visas to visitors from seven countries, as it targets five million foreign arrivals by 2026. Major hotel chains like Marriott, Hilton, and Red Planet are expanding their presence in Asia, while Sarovar Hotels opens an upscale Golden Tulip in Bhopal, India.