Xi'an

City Development wants to triple in size, rising to 500 properties, mostly under the Millennium brand of hotels and resorts. Plus, more deals and development news.

Riyaz partners with Jin Jiang Hotels to expand five brands across Southeast Asia, signing first management agreement for Metropolo in Luang Prabang, Laos.

Singapore hotels maintain high occupancy rates despite rising costs, smaller room sizes, and surging prices, with future growth expected to slow due to limited new supply.

China's hotel construction pipeline reached 3,853 projects with 703,312 rooms in Q3 2024, showing steady growth, with significant openings forecast for 2025 and 2026.

The majority of projects are concentrated in the upper midscale and upscale segments, which account for 69% of the projects and 65% of the rooms in the pipeline. This focus on mid-to-high-end properties suggests a market shift toward catering to more affluent travelers.

H World Group approved a three-year, $2 billion shareholder return plan, including dividends and repurchases, effective from July 23.

Japan's hotel business has seen impressive RevPAR growth over the past 15 months due to a late post-pandemic reopening, high inflation, international demand, and a depreciating yen – all despite minimal return of Chinese travelers.

The Rosewood Hotel Group is set to expand its global presence and enhance its portfolio, which currently includes 48 properties across 23 countries, with new openings in Europe, Asia Pacific, the Middle East, and the Americas, alongside growing its residential business.

The Philippines Dept. of Tourism reported that from January to March 4 this year, over 1.23 million international travelers visited.

Marriott International said they signed 28 deals in South Asia in 2023 and so far in 2024, adding over 4,500 rooms to its development pipeline.