Australia

Accor Greater China announced a dual-branded project on Banping Island in Wenzhou, featuring the debut of Peppers Edge and an MGallery luxury resort, both opening in late 2027.

Fitch Ratings revised its 2024 outlook for APAC lodging to improving from neutral due to robust recovery in travel and RevPAR in 1Q24, anticipating strong rebound in China's outbound tourism to support overall APAC hotel occupancy and growth.

The World Travel & Tourism Council forecasts that Australia's travel and tourism sector will contribute a record $265.5 billion to the economy in 2024, with expectations to surpass $345 billion by 2034.

Despite a rebound in tourism, many Vietnamese hotels face financial troubles and are being auctioned.

After the acquisition of Minacia, Star Asia will have an additional 5,100+ rooms from 39 limited service hotels under its management.

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

Hilton aims to triple its India portfolio to 75 hotels in three to four years, expanding into emerging markets like Ayodhya and introducing luxury brands, with a focus on tier-I markets and the growing wedding segment.

Thailand's legislature is considering legalizing casino resorts, anticipating a potential increase of US$12 billion in tourism revenue.

Tishman Speyer partners with Diaoyutai MGM Hospitality to open Mirage by MGM Shanghai in 2027 within a new mixed-use tower at The Springs, featuring luxury rooms and upscale amenities.

Chinese travelers flocked to tourist hotspots across Asia over the Lunar New Year break, with visitor numbers and spending in destinations including Singapore, Thailand, and Malaysia exceeding pre-Covid levels.