Malaysia

Hyatt Hotels Corporation announced the opening of Hyatt House Tokyo Shibuya. They reached an agreement with Tokyu Land Corporation earlier in the month for the 126-room hotel which includes 18 suites.

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.

A 60 member House committee in Thailand that is tasked with considering the possibility of developing Thailand’s first legal casinos continues to have trouble completing the task at hand.

The tensions with the Maldives have Indian tourists diverting to other coastal tourist destinations and Sri Lanka is already reaping the benefits, surpassing Maldives in the number of tourists for the first time.

Hilton reported a solid earnings report yesterday and said full year APAC RevPAR was up 587% versus 2022. It also said Beijing, Tokyo and Kuala Lumpur were standout markets for them.

Seibu Prince Hotels will offer a consolidated membership program and unify its brand identity under a single brand.

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.

The Thai hotel industry anticipates a full recovery from the pandemic by late 2024, with Phuket remaining a top destination. Thai hotels had a 60% occupancy rate in 2023, a surge attributed to direct overseas flights and visa-free entry for several countries. Vietnam's tourism authority targets 17-18 million international visitors in 2024, with a revenue goal of 840 trillion VND. In 2023, Vietnam exceeded its 12.5 million visitor target and saw 108 million domestic trips, generating 678 trillion VND in revenue. Marriott International plans to open new Ritz-Carlton and Marriott Marquis hotels in Beijing by 2026, enhancing their presence in China. The Sheraton Colombo Hotel, Marriott's second in Sri Lanka, has opened, offering luxury amenities and strategic location.

Malaysia led Southeast Asia in foreign tourist arrivals in 2023 with 26 million visitors, followed by Thailand with 24.6 million. Vietnam attracted 12.6 million foreign tourists, reaching only 70% of pre-pandemic levels, while Cambodia's recovery rate was at 92.48%. Vietnam's National Authority of Tourism set ambitious goals for 2024, aiming to match pre-pandemic tourism levels despite past challenges. The Philippines exceeded its 2023 tourism target, welcoming over five million international tourists and surpassing pre-pandemic international tourism revenue. Dusit Hotels and Resorts opened Dusit Princess Phatthalung in Thailand, its first in the far south of the country. Regal Hotels International announced a partnership with Saudi Arabia's Ministry of Investment to build about 100 hotels globally, with a significant focus on the Middle East.

STR reported a 54.2% increase in China's hotel RevPAR compared to last year, with Jakarta hotels reaching record occupancy and RevPAR levels, boosted by events like a Coldplay concert. Accor announced the opening of five new properties in Asia, along with the first Movenpick by Accor destination in Qingdao, China, as part of a strategic alliance with Sunmei Group, planning over 400 new properties across China. IHG, Radisson, and Wyndham announced new hotel openings in Amritsar, Surat, Goa, and Cebu, with IHG's voco Amritsar Airport and Radisson's Uday Palace Navsari targeting diverse locations.