Tamil Nadu

Minor International plans to reduce $7 billion in liabilities by launching a real estate investment trust, while expanding its global hospitality portfolio, including new ventures in Japan and Singapore.

The Oberoi family is embroiled in a legal dispute over the hotel company’s board and inheritance, with Anastasia Oberoi challenging her step-siblings over a contested will from 2021.

The Indian hospitality industry is experiencing strong investment growth in greenfield hotel developments, particularly in tier 2 and 3 cities, with investments rebounding to pre-Covid levels and expected to surge further in 2024.

The Philippines Dept. of Tourism reported that from January to March 4 this year, over 1.23 million international travelers visited.

Hyatt Hotels Corporation announced the opening of Hyatt House Tokyo Shibuya. They reached an agreement with Tokyu Land Corporation earlier in the month for the 126-room hotel which includes 18 suites.

Taiwan’s travel industry expects inbound tourism to recover, with five new luxury hotels opening this first half of 2024.

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.

Aman Group is launching a new brand, Janu, in Tokyo with its flagship property featuring luxury amenities, including a large wellness center and various dining options. Several hotel management changes and expansions are announced: Rosewood Hotels & Resorts in New Zealand, The Leela Palaces, Hotels and Resorts in Sikkim, India, and Ramee Group of Hotels entering Tamil Nadu, India. New developments and reimaginings in the hospitality industry include Megaworld's new township in Puerto Princesa, Palawan, Townplace West Kowloon in Hong Kong launching a new social club, and SAii Resorts in Thailand undergoing extensive renovations.

Notable are the predictions of 3% to 8% hotel rate hikes in 2024, with Asia leading in occupancy growth. Accor's execution of management agreements for 69 properties across Asia, enhancing its portfolio with over 16,500 keys, is a major development. The reopening of the Mandarin Oriental Singapore after a multi-million dollar transformation underscores significant refurbishment investments in the industry.

Phuket's hotel market saw strong growth in the first half of 2023, driven by increased flight volumes, with Russia and China as top tourism markets, and higher room rates post-pandemic. Accor anticipates a surge in hotel conversions due to stricter lending rules, leading to more independent Thai hotel owners seeking franchising, rebranding, or conversion opportunities. Macau plans to invest in attracting foreign tourists but faces challenges due to airport expansion. Wyndham opens its first Wyndham Grand hotel in South Korea, and S Hotels and Resorts launches SO/Maldives in the CROSSROADS Maldives.