ITC Hotels

Brookfield Asset Management is planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, which represents the largest-ever foreign investment in the Indian hospitality sector.

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.

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.

Thailand's Prime Minister proposes a six-nation visa to enhance regional tourism, potentially extending visa validity to 90 days, with a target of 80 million foreign tourist arrivals by 2027.

Berjaya Land Bhd plans to expand its presence in Japan by developing at least ten Four Seasons hotels and resorts, starting with the groundbreaking for the Four Seasons Resort & Private Residences Okinawa.

Taiwan’s travel industry expects inbound tourism to recover, with five new luxury hotels opening this first half of 2024.

Minor International said they expect foreign tourist arrivals to Thailand to exceed 34 million, ahead of the government’s forecast.

Marriott International had the pleasure of debuting their Moxy Hotels brand in India while also expanding their JW Marriott brand to the city of Surat, Gujarat.

Macau expects 28 million visitors in 2023, nearing 74% of 2019 levels, with predictions for further growth in 2024. New hotel developments and renovations across Asia , including the Courtyard by Marriott in Kyoto , Japan , and the Chiang Mai Marriott Hotel in Thailand . Radisson expands in South-east Asia, targeting markets like Sri Lanka and the Philippines , while Sun Siyam Pasikudah in Sri Lanka and Lemon Tree Hotels in Karnataka, India , announce new properties.

Notable are the predictions of 3% to 8% hotel rate hikes in 2024, with Asia leading in occupancy growth. Accor's execution of management agreements for 69 properties across Asia, enhancing its portfolio with over 16,500 keys, is a major development. The reopening of the Mandarin Oriental Singapore after a multi-million dollar transformation underscores significant refurbishment investments in the industry.