KKR and Marriott Do a 14-Hotel Deal in Japan
Skift Take
KKR and Marriott International announced their entry into Japan's midscale hospitality market, with the conversion of 14 acquired Unizo hotels into Four Points Express by Sheraton, marking Marriott's midscale debut in Asia Pacific.
The South China Morning Post reported the Hong Kong tourism industry only saw two-thirds of pre-pandemic levels during the May Day Holiday. The city recorded 893,764 inward trips over the five day mainland break, up 23.5% from a year ago but only 66.8% of the 2019 number. 85% of the tourists were from the Mainland.
Savills Hanoi said there is not likely to be any new three-star hotels in Hanoi in the next thee years as tourists prefer to stay at places with higher ratings. Savills said new four and five-star hotels opened their doors to guests in the first quarter. Savills data shows nine five-star hotels are set to account for 76% of new hotel supply in the coming years with four-star properties accounting for the remaining 24%. Hanoi hotels reported an occupancy rate of 65% in the first quarter, up 7 percentage points year on year with room rates up by 11%. Vietnam received 4.6 million international visitors in the first
