Asia-Pacific

Accor aims for a record year in hotel signings across Asia, focusing on Premium, Midscale, and Economy divisions. Thailand offers visa waivers to Indian and Taiwanese tourists to boost its tourism sector. Macau experiences increased hotel occupancy rates, with significant construction plans for additional rooms.

ForwardKeys data reveals that Asia Pacific destinations have seen a travel recovery of over 50% of pre-pandemic international arrivals in the first three quarters of the year, with fourth-quarter bookings improving. Marriott International has opened three premium brand hotels in Vietnam, expanding its portfolio to 19 hotels in the country. S Hotels and Resorts will invest $27 million in renovating resorts in Thailand and Fiji, including upgrades to three SAii Resorts and Outrigger Fiji Beach Resort, with renovations starting in 2023 and premium rooms available for booking from December 2023.

Asian ultraluxury resort companies are expanding into Japan to cater to wealthy overseas travelers and take advantage of the weak yen, with Soneva Holdings planning to open resorts in Japan by 2027 and investing 100 billion yen in new properties. Foreign investment in Japanese hotels increased significantly in recent years, with 2022 seeing a sixfold increase compared to the previous year, and an expected total of 128.5 billion yen in investments in the first six months of the current year. International hotel brands like InterContinental, Wyndham, Marriott, Hyatt, and Accor are actively expanding their presence in various regions, including India, Vietnam, China, Thailand, and Australia, offering a diverse range of accommodations and amenities.

China experiences a significant year-over-year increase in hotel **RevPAR**, while **India** anticipates robust growth in the hotel industry, driven by domestic and international tourism. Sri Lanka aims to revive its economy by offering free tourist visas to visitors from seven countries, as it targets five million foreign arrivals by 2026. Major hotel chains like Marriott, Hilton, and Red Planet are expanding their presence in Asia, while Sarovar Hotels opens an upscale Golden Tulip in Bhopal, India.

Sentosa Island in Singapore is on track to recover its pre-pandemic visitor numbers within one to two years, with new projects like Raffles Sentosa Resort & Spa and Sentosa Sensoryscape expected to boost visitation. Macau SAR experienced a -28.6% decline in visitor arrivals in September, but it anticipates a potential increase in October, aiming to reach 24 million visitors by the end of the year. Accor has become the world's largest player in extended-stay hotels outside of the United States, offering various brands such as Novotel Living and Adagio, with plans to open new properties in different locations.

International arrivals in the Asia Pacific region saw growth in 2022, reaching the strongest level since 2019, with the Pacific region having the highest growth rate. Macau received over five million visitors from Hong Kong in the first nine months of the year, nearing 2019 levels. Radisson Hotel Group announced the rebranding of Fridays Boracay into a Radisson Collection Resort, marking their entry into Boracay, Philippines.

Cushman & Wakefield reported significant growth in China's hotel industry, with domestic tourism on the rise and strong performance in the hotel market. Las Vegas Sands is embarking on a $3.3 billion expansion project in Singapore, while Wyndham Hotels & Resorts is expanding in Vietnam, including a massive complex on Bai Dai beach. Fine Acers Hotels and Resorts Pvt Ltd is partnering with Wyndham Hotels & Resorts to open a luxury Wyndham Grand Hotel & Branded Residences in Amer, Jaipur, India.

China hotel RevPAR for the week ending October 14th increased by 73.4% YoY, with a -35.5% comp from 2022, but was still down -18.3% compared to the same week in 2019. The Ascott Limited introduced The Crest Collection brand in Asia, opening three properties in Singapore, Indonesia, and Malaysia with heritage-themed hospitality experiences. Various hotel developments and transactions include Royal Orchid & Regenta's new property in Mysuru, a 4-star hotel sale in Vadodara, Lemon Tree Hotels' franchise agreement in Vadodara, Kenilworth Hotel's upcoming project in Coimbatore, Bong Sen Corp's plan to sell assets in Vietnam, and BWHSM Hotels' expansion in Bangkok. Pride Hotels Group appointed Chandrashekhar Belose as Corporate Chief Engineer, focusing on sustainability measures.

Marriott expands into CNMI with the first Marriott hotel in the Northern Marianas Islands in 2025, partnering with Honest Profit International Ltd for management. YOHO Treasure Island Resorts World Hotel in Macau announces its official opening after a four-month soft opening period, offering 600 rooms initially, and Melia Hotels International plans to open ME by Melia hotel in Guangzhou, Asia Pacific, in 2027. DigiPlus Interactive Corp backpedals on plans to develop land in Boracay, Philippines, after a public dispute with former partner Galaxy Entertainment Group.

Samaras Construction plans to build a high-end hotel in Adelaide, Australia, featuring 175 luxurious rooms, a lavish lobby, a hotel-style bar, and a restaurant. Pan Pacific Perth is undergoing a $50 million refurbishment of its luxury hotel and convention spaces in Adelaide, including guest rooms, suites, and convention facilities. Keppel has completed the divestment of Sedona Hotel Yangon in Myanmar for $57.4 million, while Galaxy Entertainment Group is not re-entering a resort project in the Philippines.