Mercure Hotels

In May, Indonesia saw a 20.1% year-over-year rise in foreign tourist arrivals to 1.15 million, with hotel occupancy reaching 54%, the highest since December 2023.

The Competition Commission of India approved ITC Ltd's demerger of its hotel business into the newly independent, publicly listed ITC Hotels Ltd, with ITC retaining a 40% stake and 60% distributed to shareholders.

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.

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.

During the hotel group's earnings season, Hilton's report stood out as the most impressive – despite showing slowing RevPAR growth – due to strong performance in Net Unit Growth and EBITDA flow through.

Accor has opened the world's largest Mercure hotel in Singapore, featuring extensive amenities and a prime location between Chinatown and the CBD.

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.

Savills Vietnam predicts a substantial increase in hotel real estate supply in Vietnam, focusing on Hanoi and Ho Chi Minh City, due to new projects from 2024 to 2026.

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.

Four Seasons announces two new hotels: Four Seasons Hotel Shanghai, opening in 2027 with 160 rooms and suites, and Four Seasons Hotel Suzhou, now open with 119 rooms, suites, and 11 villas. Marriott International expands in Sydney and Bangkok with the Moxy brand. Moxy Sydney Pitt Street, opening in 2025, will have 314 rooms and the city's highest rooftop bar. Moxy Bangkok Ratchaprasong, opening in 2024, starts its experience with a 9th-floor bar check-in. IHG Hotels & Resorts opens two new Holiday Inn resorts in Phuket, managed by Destination Group. Holiday Inn Resort Phuket Karon Beach and Holiday Inn Resort Phuket Surin Beach feature over 220 rooms each, with private balconies and extensive amenities.