Thailand

Asia's largest Hard Rock Hotel will open in 2027 at Genting Highlands' King's Park, featuring 1,001 rooms and various amenities as part of a larger entertainment and business district project.

Schloss Bangalore, owner of The Leela hotel chain, has filed for a US$599 million IPO to fund expansion and debt repayment, with Morgan Stanley, BofA Securities, JPMorgan, and Citi managing the issue.

The 2024 Philippines Accommodation Pipeline Report reveals 158 accommodation projects with 40,084 rooms in development, with Luzon leading, followed by Visayas and Mindanao, which is noted as an underserved market.

EIH Ltd plans to build new hotels in Pune and London, while facing a legal family dispute over the company.

Krungthai Bank's research unit predicts Thailand's hotel industry to surpass pre-Covid levels this year, driven by strong domestic tourism growth, despite international arrivals still lagging behind 2019 figures.

The Hotel Management Contract Survey 2024 by JLL and Baker McKenzie found that the average term of hotel management agreements in Asia Pacific increased to 17.4 years, with varying durations by market, declining base fees, rising sales and marketing fees, and a growing focus on performance-based incentive fees and termination provisions.

Hilton plans to significantly expand its luxury hotel portfolio in Asia Pacific, aiming to surpass 150 properties by partnering with Small Luxury Hotels of the World and introducing new luxury brands to the market.

JLL's latest survey forecasts mixed fortunes for the Asia Pacific hotel sector in 2024/2025, with optimism in North, South, and Southeast Asia, caution in Australasia and Greater China, and varied expectations for revenue, occupancy, and Capex investments.

IHG Hotels & Resorts is expanding its presence in Thailand by introducing its new brand, Garner, and aiming to double its hotel portfolio in the country.

Wyndham Hotels & Resorts will open their first luxury hotel in India next year in Udaipur, while expanding their presence in the country with more hotel openings and strategic alliances.