Vietnam

International visitor arrivals to Vietnam increased by 58.4% to over 8.8 million in the first half of 2024, with South Korea being the largest source market.

Fitch Ratings projects China outbound tourism to the Asia Pacific region will recover to 86% of pre-Covid levels in 2024, with full APAC tourism recovery expected by the first half of 2025.

Despite a rebound in tourism, many Vietnamese hotels face financial troubles and are being auctioned.

Radisson Hotel Group plans to open a new hotel in India every 20 days, aiming for widespread presence including religious destinations, with 180 hotels and 13,700 rooms in operation and in the pipeline.

Visitor spending in Macau, excluding gaming, increased by over a third year on year, driven mainly by overnight visitors and significant spending on shopping, accommodation, and food and beverage.

The Q1 2024 Hotel Construction Pipeline Trend Report shows significant growth in the Asia Pacific region's hotel construction, with a 7% increase in projects and a 2% increase in rooms year-over-year, led by India, Vietnam, and Indonesia.

Six Senses Kyoto, the brand's first urban hotel in Japan, has opened in Kyoto's Higashiyama district, featuring 81 rooms and suites, a spa with unique treatments, and diverse dining options.

Marriott International and HMI Hotel Group are rebranding seven HMI properties across five major Japanese cities to align with global hospitality trends.

Japan's hotel industry experienced significant growth in 2023, achieving top global tourist destination status, with a rebound in foreign visits and high investment despite not reaching 2019 levels.

The Americas is the only region to show an increase in hotel construction and development activity in the first quarter of 2024, contrasting with declines or slower growth in Europe, Asia Pacific, and the Middle East and Africa.