Udaipur

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.

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.

The Philippines aims for 7.7 million tourists in 2024 despite challenges, with South Korea as the top source market and a significant increase in visitor receipts this year.

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.

Hilton will increase investment in China, continuing rapid expansion as their fastest-growing international market with 671 hotels and a strong pipeline of new properties.

Hilton plans to open around two dozen new Hilton Garden Inn hotels in China over the next year, including locations in Beijing, Nanjing, Chengdu, Chengde, and Jinan.

Brookfield Asset Management is planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, which represents the largest-ever foreign investment in the Indian hospitality sector.

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

Samaras Construction plans to build a high-end hotel in Adelaide, Australia, featuring 175 luxurious rooms, a lavish lobby, a hotel-style bar, and a restaurant. Pan Pacific Perth is undergoing a $50 million refurbishment of its luxury hotel and convention spaces in Adelaide, including guest rooms, suites, and convention facilities. Keppel has completed the divestment of Sedona Hotel Yangon in Myanmar for $57.4 million, while Galaxy Entertainment Group is not re-entering a resort project in the Philippines.

Thai tourism officials hope for 2 million Russian tourists to visit Thailand next year, as Russian travelers have been unwelcome in many European tourist locations due to their government's illegal invasion of Ukraine. Marriott International's Sheraton Hotels & Resorts is expanding in Asia Pacific with five new properties in China and Japan , showcasing the brand's new design concept. ONYX Hospitality Group announced the grand opening of Amari Raaya Maldives , establishing its presence in the Southeast Asian hotel industry.