Tokyo

Strong passenger demand, in-person events, and positive industry momentum are driving business travel growth, with global passenger demand up 9.1%, hotel occupancy nearing 70%, and steady travel demand expected through the next quarter.

Thailand is expected to reach pre-pandemic tourism levels of 40 million arrivals this year and potentially 50 million by 2028, contingent on avoiding global or local crises – not to mention whether or not they add casinos.

Domestic Chinese hotel chains are expanding internationally, with notable investments in Malaysia, Japan, South Korea, and Southeast Asia, driven by the rising number of Chinese travelers.

In Japan, local governments are considering and implementing lodging taxes to manage overtourism, despite opposition from hotel businesses fearing loss of guests to neighboring areas.

While The Standard International gets ready to open its first StandardX property, it's also in advanced stages as a takeover target by Hyatt.

The World Travel & Tourism Council forecasts that Australia's travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

In the first quarter of 2024, South Korea’s hotel industry saw significant growth in average daily rates and RevPAR, driven by key tourist destinations, but investment activity remained subdued despite limited future supply and expected continued success in luxury and upscale segments.

The Mandai Rainforest Resort, an eco-friendly resort operated by Banyan Tree and featuring 338 rooms including unique treehouses, is set to open in Singapore in early 2025, following delays due to the Covid-19 pandemic.

The iconic Park Hyatt Tokyo will close for at least a year while it renovates. Though it's hard to imagine how it could improve.