Asia-Pacific

Oberoi Group plans to open 50 new hotels by 2030, doubling the number of rooms under management.

Hyatt aims to expand its presence in China's economy and midscale hotel segments, leveraging local partnerships and focusing on second and third-tier cities.

Hyatt Hotels said they plan to expand their footprint in India by opening seven new hotels and adding 1,115 keys across leisure and city destinations in 2024.

In February 2024, Sydney and Melbourne, Australia, experienced record hotel occupancy and rates, attributed to Taylor Swift's Eras tour, with significant yearly increases in occupancy, average daily rates, and revenue per available room.

Accor announced a share repurchase agreement was reached to buy back a block of seven million of its own shares as part of the €400 million share buyback program of Accor for 2024.

The Philippines Dept. of Tourism reported that from January to March 4 this year, over 1.23 million international travelers visited.

China introduces 15-day visa-free entry for citizens of six European countries, extending from March 14 to November 30, alongside existing visa agreements with other nations.

Centara Hotels & Resorts announced its expansion plans at ITB Berlin. Their sustainable strategy is to introduce its style of family-centric hospitality to multiple new markets, striving to become one of the planet’s top 100 hotel operators by 2027.

Thailand’s commercial real estate industry is poised to perform strongly in 2024, driven by the ongoing recovery in the country’s tourism market, growing manufacturing sectors, and flight to quality and flight to green movements into prime assets across core sectors.

The all-new Four Seasons Hotel Dalian is the first international luxury brand to open in the Chinese city in the past decade, while the forthcoming property in Okinawa will open in 2027.