Thailand

Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast.

China’s outbound travel bookings for the upcoming Chinese New Year holidays have surged more than 10 times compared to the previous year.

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.

The Philippine Department of Tourism achieved over 5 million international visitors in 2023, nearing pre-pandemic levels, with a focus on their National Tourism Development Plan 2023-2028. China's tourism rebound is driven by domestic demand, though sustainability into the next year is uncertain. The Hongkong and Shanghai Hotels announced executive changes effective 2024, with a formal search for a new CEO.

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.

79% of markets showed growth in Revenue Per Available Room (RevPAR) compared to 2019, with countries like the United Arab Emirates, South Korea, and Singapore leading. Wyndham Hotels & Resorts is set to open over 10 new hotels in Malaysia, and BWH Hotels announced a new upscale hotel in Vietnam, indicating significant growth and investment in the Asian hospitality market. Chinese airlines are canceling flights to Thailand amidst decreasing traveler numbers, despite visa waivers. Meanwhile, the Philippines surpassed its target for international visitor arrivals, with South Korea being the top source market.

China launches a pilot project allowing visa-free travel for visitors from several countries, with Malaysia reciprocating for Chinese and Indian visitors. IHG, Accor, SM Hotels, Hilton, and Artyzen Hospitality Group announce new properties and partnerships across Asia. The former Palazzo Versace in Australia is up for sale with a $100 million price tag.

Singapore saw a significant rise in international visitor arrivals in October, notably from China and Indonesia. Meanwhile, The Philippines plans to develop 48 new hotels by 2028. Several hospitality brands announced major expansions, including The Standard International's new The StandardX in Melbourne, Australia, and Accor opening Mercure Tokyo Haneda Airport. Indian Hotels Company formalized a partnership for a new Vivanta hotel in Kochi, India, and Crowne Plaza in Chennai, India will be replaced by luxury apartments.

Chinese tourists are showing decreased interest in Japan and Thailand, partly due to Japan's Fukushima wastewater release and negative perceptions from movies about Thailand. Consequently, Singapore, Europe, South Korea, Malaysia, and Australia have become more popular destinations. M Social opens its first hotel in Suzhou, China, and Indian Hotels Company plans to expand its Ginger brand across India. Other developments include the opening of the Ramada Encore by Wyndham in Amritsar, India, and new properties in Goa and Hong Kong under different brands. Sun Siyam Pasikudah in Sri Lanka reopens after renovations, and Berjaya Land Bhd secures a loan for developing the Four Seasons Resort in Okinawa, Japan.

IHG Hotels & Resorts ventures into Thailand’s Golden Triangle with luxury properties, while Courtyard by Marriott Bangkok undergoes extensive renovations. Six Senses opens a new resort in the Maldives, and Accor expands its portfolio across the Pacific region. OYO plans to alleviate debt through a buyback process before its long-anticipated IPO, while Indian Hotels Company inaugurates Ginger Mumbai Airport and Sarovar Hotels & Resorts debuts in Gujarat. Atmosphere Core introduces new hires and strategic shifts in the Maldives, emphasizing culinary strategies and upcoming projects across various brands and locations.