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Asia-Pacific
Accor to Add 6,000 Rooms in Japan
Chinese investors are shifting their focus from New York City hotels due to hostility towards Chinese capital. Radisson Hotel Group has achieved significant growth in the Asia Pacific and Europe, Middle East, and Africa regions with over 100 hotel openings and signings, particularly in Vietnam, India, Thailand, the Philippines, and China. Several major hotel companies, such as Sands China, Dharampal Satyapal Group, ITC Ltd., Accor, and Hilton, are making significant expansions, acquisitions, and rebranding efforts across Asia. -
Asia-Pacific
Wyndham Bets on Wellness in Phuket
Radisson Hotel Group expands its portfolio in the Asia Pacific region, adding over 60 hotels in Vietnam , India , Thailand , the Philippines , and China . IHG Hotels & Resorts introduces Vignette Collection to Phnom Penh , Cambodia, with the upcoming opening of Vignette Collection Phnom Penh Odom, following the success of Six Senses Krabey Island. Hilton opens Conrad Shenzhen in China’s Qianhai business district, featuring 300 rooms and providing elevated luxury accommodations in the city’s financial center. -
Asia-Pacific
IHG Hotels Expands in Bhutan and Bangkok
Cambodia ‘s international airports experienced a significant increase in passengers, with a 270% year-on-year growth in the first half of 2023. IHG Hotels & Resorts signed agreements for new hotels in Bhutan and Thailand , expanding its presence in these countries. Radisson Hotel Group achieved strategic growth in the APAC region, adding over 60 hotels to its portfolio, including milestone openings and signings. -
Asia-Pacific
Vietnam Has an Oversupply of Hotels
China hotel RevPAR showed significant year-over-year growth of 50.4% for the week ending July 1, 2023, compared to a decline in 2019 and 7.6% decline in the same period. Vietnam’s international visitor numbers reached 70% of their 2023 projection but remained below expectations due to fierce competition and an economic recession. Domestic tourism in Vietnam is also experiencing a decline. Worldwide Hotels Group made significant acquisitions in Melbourne and Singapore , representing the largest hotel transaction in Melbourne in over six years and the largest single-asset Singapore hotel transaction in Asia Pacific in 2023. -
Asia-Pacific
India’s ITC May Sell Its Hotel Unit
The Philippines Department of Tourism surpasses its tourist arrival target for 2022 and sets a higher goal of 4.8 million tourists for 2023. Banyan Tree Group expands its portfolio with new hotel openings in Vietnam and Japan , along with plans for future properties in various countries. ITC considers demerging its hotels business and exploring alternative business structures after a strong recovery in the industry, with plans for separate listing of the hotel section. -
Asia-Pacific
Radisson, Wyndham and IHG Expand Presence in Thailand
Radisson Hotel Group plans to open more premium and luxury hotels in Thailand , Cambodia , Laos , and Vietnam over the next five years, with a focus on popular tourist destinations such as Bangkok , Phuket , Chiang Mai , and Samui Island . Wyndham Hotels & Resorts aims to open over 15 hotels with 5,000 additional rooms in Thailand to catch up with the country’s tourism industry recovery, but they don’t expect a return to pre-pandemic levels until 2024. IHG Hotels & Resorts continues to expand its Hotel Indigo brand in Thailand , with plans to open the Hotel Indigo Bangkok Thonglor in 2026, offering 250 rooms, restaurants, a bar, swimming pool, gym, and meeting spaces. -
Asia-Pacific
Vietnam Hotels Struggle Amid Recession and Tourism Slump
Vietnam hotels face challenges: Recession and sluggish tourism lead to hotel sales and closures. High demand in Fiji tourism: Shortage of 4,000 hotel rooms, increased spending. New hotel developments in Asia: 25hour hotel in Jakarta , Lanson Place in the Philippines , Hilton Garden Inn in Islamabad . -
Asia-Pacific
Indian Hotels Company Has a New Wellness Brand
China hotel industry shows strong recovery with a 59.8% increase in RevPAR compared to last year. Ascott Ltd. plans to expand its properties in Malaysia and diversify into the hotel business. Raimon Land Plc announces three luxury projects in Phuket and Bangkok, targeting the luxury segment. -
North America
Vietnamese Hotel Closures and Sales Amidst Tourism Challenges
Hotels in Vietnam, particularly in Ho Chi Minh City, are experiencing closures and are being listed for sale due to lower-than-expected visitors, revenue, and the need for capital expenditure. Centara Hotels & Resorts is entering the Japanese market with the opening of Centara Grand Hotel Osaka, featuring 515 rooms, world-class dining options, and extensive meeting facilities. The Philippines conglomerate Alliance Global Group plans to allocate Php4 billion for the expansion of Manila’s Newport World Resorts, part of a broader Php70 billion investment for 2023. -
Asia-Pacific
Thai Hotel Rates Plunge
Thai hotel occupancy rates drop below 50% as government campaign termination impacts domestic and international markets. IHG Hotels & Resorts opens voco Ma Belle Danang in Vietnam . OYO plans to add 300 hill station hotels to its portfolio by August 2023 and aims for 1,800 new hotels overall.