-
Asia-Pacific
Asia-Pacific Construction Pipeline at Close of Q3
The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. ONYX Hospitality Group said they reinforced their expansion plan with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia . According to the recent Q3 2022 close of the Construction Pipeline Trend Report , Asia Pacific’s total construction pipeline, excluding China, stands at 1,881 projects. -
Asia-Pacific
China Continues Outbound Tour Suspensions
STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies. In the recent China Construction Pipeline Trend Report from Lodging Econometrics , LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms. -
Asia-Pacific
Asia-Pacific Expected to Hit Two-Thirds of Pre-Pandemic Airline Traffic by EOY
STR reported Melbourne, Australia’s hotel performance reached a pandemic era high, according to preliminary October 2022 data from STR. JP Morgan issued a report projecting that airline travel in the Asia Pacific region will hit two-thirds of pre-pandemic levels by the end of the year. Indies Capital Partners announced the acquisition of a 60% stake in PT Swiss-Belhotel International Indonesia and PT Zest Hotels International Indonesia from Ciputra Group Indonesia. -
Asia-Pacific
Fosun Denies Claims It’s Seeking Buyer for Club Med
Bloomberg said Fosun is also considering strategic options for French luxury resort chain Club Med SAS and could seek a value of about $1.5 billion for the business. Shanghai Disney Resort remains closed, two weeks after Covid-19 cases caused operations to cease. Marriott International announced plans to expand its select service portfolio in Greater China with the expected addition of 30 hotels in the segment by the end of 2023. -
Asia-Pacific
Goldman Sachs Suggests China Should Keep Zero-Covid Policy
Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. Some 39 buildings of the No.2 Island of the Ocean Flower Island , an artificial archipelago in Danzhou , South China’s Hainan Province developed by China’s debt-ridden Evergrande Group will be repurposed. Vietnam’s second-biggest listed developer, No Va Land , is firing staff and seeking urgent asset sales. -
Asia-Pacific
Golden Week Covid Outbreaks Spur China Closures
STR said China hotel RevPAR fell -35.8% for the week ending October 22 on a year over year basis. It is doubtful the RevPAR comps in China will look much better in coming weeks as Covid outbreaks following Golden Week are spurring closures and lockdowns. Best Western Hotels & Resorts signed a strategic partnership for two beach apartment buildings on Vietnam’s southeast coast . -
Asia-Pacific
Accor to Add Five-Star Property in Sydney
Accor said they signed an agreement with Panthers Group for a new five-star Pullman hotel at the Penrith Panthers precinct in Western Sydney . InterContinental Khao Yai is a new resort in Thailand , located in Nakhon Ratchasima province in Khao Yai National Park . IHG , in cooperation with Bao Quan Investment & Construction Joint Stock Company , will open its first Crowne Plaza hotel in Vinh Yen City in the northern province of Vinh Phuc this November. -
Asia-Pacific
China RevPAR Last Week Down YoY
Hotel RevPAR in China was down -35.5% year over year while down -52.5% when up against the same week in 2019. Hyatt Hotels announced the opening of Hyatt Centric Kota Kinabalu , marking the debut of the lifestyle brand in Malaysia and Southeast Asia. Absolute Hotel Services Group announced the first Absolute Collection property in Vietnam with the signing of Lamia Bao Loc Resort. -
Asia-Pacific
China Likely to Keep Zero-Covid Strategy in Place
STR reported China hotel data for the week ending 10/8. China hotel RevPAR was down -16.5% year over year (Golden Week). When compared with the same week in 2019, RevPAR was down -12.7%. People’s Daily , considered the Communist Party’s way of getting the message out to the Chinese, said China should stick with its zero-Covid strategy . Hyatt Place Huangshan Train Station , the first Hyatt-branded hotel in Huangshan, is officially open. -
Asia-Pacific
Golden Week Covid Outbreaks Slow Recovery
While Golden Week was a bit tarnished for hoteliers in China , it created a breeding ground for Covid cases and that was not a disappointment. The number of Adelaide hotel rooms filled in one night hit a new high last month. For Macau , a Covid boom means new quarantine and other measures, bringing down the mood after there were 163,000 mainland visitors entering the city during the seven days of Golden Week.