Accor

China 's hotel RevPAR rose by 22% YoY as of the week ending August 5th, and by 6.7% compared to the same week in 2019. China lifted its ban on group tours to over 70 locations, including countries in Asia Pacific, Europe , Africa , and North America . Notably, group tours to South Korea are resuming for the first time in six years. Indonesia's ONE°15 Marina Nirup Island opened, with phase two set to include a Westin Hotels & Resorts property by Q4 2024.

China hotel RevPAR increased by 27.9% year over year and by 13.7% when compared to 2019. Japan experienced a resurgence in inbound tourism, with GCC countries leading the way, and June 2023 saw 72% of the visitor numbers compared to June 2019. Several hotels, including W Sydney , W Macao Studio City , and The Grand Copthorne Waterfront Hotel , have announced openings and renovations to cater to the recovering travel demand. Additionally, CapitaLand Ascott Trust signed a Memorandum of Understanding for acquiring lodging assets in the UK, Ireland, and Indonesia.

The DJIA ended its winning streak with a 237-point drop, Nasdaq was down 77, and the S&P 500 fell 29 points. The 10-year treasury yield surged by 0.16, closing at a yield of 4.01%. Wyndham reported positive results, with its development pipeline rising and a significant stock buyback. Accor raised its annual profit outlook despite being slightly below analyst expectations. Senators Klobuchar and Moran introduced the Hotel Fees Transparency Act , aiming to crack down on hidden resort fees. They propose federal guidelines for pricing transparency in hotel stays.

Accor Pacific's partners have invested over $300 million in hotel renovations and refurbishments across various locations in the Pacific region to enhance guest satisfaction and maintain a leading position in the industry. Centara Udon in Thailand underwent renovations and now offers remodeled facilities, new dining options, and event spaces. S Hotels and Resorts PCL is set to open SO/ Maldives , a new resort on a private island with beachfront and over-water pool villas, and various dining venues in November 2023.

Stock markets showed mixed results with DJIA up 27 points, Nasdaq up 86, and S&P 500 up 13, while 10-year treasury yield increased to 3.91%. Wyndham Rewards topped the list in the 2023-2024 Best Travel Rewards Programs, and Hilton is set to open Motto by Hilton in New York City Times Square. Pennbridge Lodging plans to construct two Marriott brands in downtown Boise, and Four Seasons Hotels announced a project in Jacksonville, Florida.

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.

Hilton and Marriott are expected to report strong 2Q23 results with international strength as a key driver. Various hotels in different regions are undergoing significant expansions, renovations, and acquisitions, with Hilton announcing a new property in Cancun and Scandic Hotels Group expanding its portfolio in Sweden . Accor is in exclusive negotiations to acquire a majority stake in Potel & Chabot, potentially becoming the sole shareholder of the company.

China hotel RevPAR up 40.6% YoY, surpassing decline from a year ago. Philippines reaches 3 million international visitor arrivals, tourism receipts increase by 502%. Accor's partnership with Sunmei Group plans to open over 400 Movenpick by Accor hotels in China.

China's summer resort tourism market reaches 1.2-1.5 trillion yuan as residents seek refuge from heat waves. The Philippines Bureau of Immigration expects a 20% increase in tourist visa extensions with the launch of its electronic services platform. SC Capital Partners acquires a portfolio of 27 resort hotels in Japan , focusing on revenue increase and refurbishment works.

Chinese travelers' spending on travel and tourism within China surged by 95.9% year over year in the first half of the year, with urban residents leading the increase. Jakarta's hotel industry experienced its highest average daily rate and RevPAR levels since October 2018, with June 2023 occupancy reaching 66.7%. Bali will implement a US$10 tax per foreign holidaymaker starting in 2024, aiming to fund environmental initiatives, cultural preservation, and infrastructure development.