OYO Hotels

Chinese Hotel Performance: Hotel RevPAR in China increased by 37% compared to the same week last year, despite a strong 107.7% increase from a year ago. In comparison to 2019, RevPAR rose by 16.9%. Chinese Travelers in Singapore : Chinese tourists were the largest source of visitors to Singapore in July, doubling their numbers from June. Singapore experienced a 104.2% increase in visitor arrivals from China, contributing to a 95.3% year-on-year rise in total arrivals for the month. Hotel Openings and Expansions : Accor is partnering with Sarin Hotels for a new Sebel hotel in Wellington, New Zealand; Hotel Marvell, Byron Bay's first five-star hotel, is opening with luxurious amenities; Melco Resorts' W Macau hotel will open in Macau's Studio City with 557 rooms; and Narai Hospitality Group is set to open Lub d Japan Osaka Honmachi, expanding their presence globally.

HCMC's hospitality market remained gloomy in H1 2023 due to slow international tourist arrivals. Ascott Limited is refreshing its hotel-in-residence model, catering to varying lengths of stays with hotel services and amenities. Dusit International expands in Japan with Dusit Thani Kyoto and plans massive expansion in China and India .

Bloomberry Resorts ' new integrated resort in Quezon City , Philippines, Solaire Resort North, is facing further delays, potentially pushing the opening from the first quarter of 2024 to the second quarter. Philippines developer Megaworld is set to open the country's largest hotel complex, Grand Westside Hotel, in Manila's Entertainment City, with the first tower opening before the end of the year and the second tower in 2024. Discovery World Corp has opened a five-star resort hotel, Discovery Samal, in Limao, Philippines, featuring 128 hotel suites and extensive facilities, aiming to boost tourist arrivals in the region.

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.

China hotel RevPAR showed significant year-over-year growth of 50.4% for the week ending July 1, 2023, compared to a decline in 2019 and 7.6% decline in the same period. Vietnam's international visitor numbers reached 70% of their 2023 projection but remained below expectations due to fierce competition and an economic recession. Domestic tourism in Vietnam is also experiencing a decline. Worldwide Hotels Group made significant acquisitions in Melbourne and Singapore , representing the largest hotel transaction in Melbourne in over six years and the largest single-asset Singapore hotel transaction in Asia Pacific in 2023.

Thai hotel occupancy rates drop below 50% as government campaign termination impacts domestic and international markets. IHG Hotels & Resorts opens voco Ma Belle Danang in Vietnam . OYO plans to add 300 hill station hotels to its portfolio by August 2023 and aims for 1,800 new hotels overall.

Summer travel bookings on Trip.com have surpassed 2019 levels, with intra-regional travel leading the way and significant increases in Asia and European markets. Top booked cities in Asia include Bangkok, Seoul, Tokyo, Hong Kong, and Taipei , while European users show interest in hotels in Asian and Middle Eastern destinations such as Bali, Dubai, Bangkok, Hong Kong, and Marrakech. Forecasts by the Pacific Asia Travel Association (PATA) indicate strong growth in international visitor arrivals across Asia Pacific destinations, although full recovery is expected to vary by scenario and region, with China projected to reach pre-pandemic volumes by 2024.

H World Group sells one-fifth of its OYO stake, generating 500% return on investment. Dalian Wanda Group seeks to offload assets amid financial challenges, including selling a Shanghai hotel and shopping malls. IHG Hotels opens new Holiday Inn property in Melbourne, featuring modern amenities and conference facilities.

Hyatt Hotels held an Investor Day today. They are forecasting $650 to $850 million of free cash flow by 2025 and will be 80% asset-light for their earnings mix. Effective Thursday, the Board of Directors of Louvre Hotel Group has appointed Federico J. Gonzalez as Group CEO. Hilton announced the signing of a management agreement for the first all-inclusive Curio Collection by Hilton property in the Dominican Republic , the new build Zemi Miches All-Inclusive Resort, Curio Collection by Hilton.

How high will be too high for May Day Golden Week in China as reports continue to pour in about terrific business, soaring room rates, and enormous train ridership. The Macau Government Tourism Office said they were predicting 70,000 visitors a day during the holiday period. Oyo said it turned cash flow positive in the fourth quarter of FY2023 in an internal note to employees .