Shenzhen

Hyatt and China Resources Land have formed a joint venture to expand Hyatt’s hotel presence across Greater China, focusing on asset-light growth and developing several new and existing properties.

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

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.

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.

China introduces new measures to enhance travel flexibility and document processing for mainland citizens visiting Macau and Hong Kong, effective May 6.

India's hospitality sector in 2023 saw a record investment of $401 million, marking a near fourfold increase from 2022, with robust growth in hotel transactions, signings, and openings, particularly in tier-two cities, and an optimistic revenue growth forecast for FY2025 driven by spiritual tourism.

The Rosewood Hotel Group is set to expand its global presence and enhance its portfolio, which currently includes 48 properties across 23 countries, with new openings in Europe, Asia Pacific, the Middle East, and the Americas, alongside growing its residential business.

Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline.

Seibu Prince Hotels will offer a consolidated membership program and unify its brand identity under a single brand.

STR reported a 54.2% increase in China's hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG's voco Amritsar Airport and Radisson's Uday Palace Navsari targeting diverse locations.