Maldives

China's travel and tourism sector is projected to grow by 150% to $1.48 trillion by the end of 2023 and contribute over $4 trillion to the economy by 2033, with significant job growth. Asset World Public Company Limited partners with IHG to launch the InterContinental Chiang Mai The Mae Ping, part of a larger mixed development project in Thailand. NH Hotel brand plans to build a 12-story hotel near Sydney Airport, while Fusion Hotel Group opens HIIVE by Fusion Binh Duong in Vietnam, emphasizing "Workation" tourism.

Macau hotels experience high demand during Golden Week, with standard rooms sold out for at least three nights at 22 casino-associated properties, some offering rooms at around US$400 per night. Samhi Hotels raises Rs 1,370 crore through an IPO, with plans to use the proceeds for debt repayment and corporate purposes, resulting in a 7% trading increase from the IPO price. Blue Chandra Pte Ltd. also sells 50% of its equity holdings in SAMHI. Marriott International opens a Four Points by Sheraton resort in the Philippines and rebrands Le Meridien Phuket Mai Khao Beach Resort in Thailand, while Hilton debuts the Hilton Maldives Amingiri Resort & Spa. Hyatt announces the construction of the Hyatt House South Melbourne in Australia for a 2025 opening.

Both Thailand and South Korea are implementing strategies to entice Chinese tourists, including visa exemptions, tax refunds, and rewards. Thailand's response comes after a drop in Chinese tourist arrivals, while South Korea offers incentives like visa fee waivers and cultural experiences. The Philippines establishes a Korea Visa Application Center to handle increased visa requests between the two nations. Travel between Korea and the Philippines has surged, showing potential to surpass pre-pandemic levels. Avani Hotel construction begins in Australia, Accor expands its properties with Novotel Living in Vietnam, and Marriott introduces new properties in Bali and Thailand. Deepak Ohri departs from lebua Hotels and Resorts, while Vaibhav Verma becomes Chief Revenue Officer at juSTa Hotels & Resorts. Ms. Thapanee Kiatphaiboon assumes leadership at Thailand's Tourism Authority.

The Philippines Department of Tourism anticipates surpassing industry targets for tourism recovery this year, with foreign tourism receipts of Php 286 billion from January to July, reflecting over 66% international arrivals recovery, outperforming the ASEAN average of 54%. Macau experienced a significant 24.9% increase in visitor arrivals in July, totaling 2,759,544, with mainland China contributing 1,910,371 arrivals. The Philippines led the source market for foreign arrivals, contributing to Macau's total of 14,405,421 visitors for the first seven months of 2023, marking a 310% YoY growth. Hilton plans to open over 730 properties in mainland China in the next decade, capitalizing on rising demand from the middle class amid a tourism rebound. Hilton achieved a 69.9% occupancy rate in the Asia Pacific region during Q2 2023, with a remarkable 79% year-on-year increase in Revenue Per Available Room (RevPAR).

Malaysia is on track to surpass its international tourist target with an expected 18 million visitors, while Hong Kong saw a significant MoM increase in July, driven largely by visitors from Mainland China. Key developments include the Marriott's expansion in China and India , the transformation of Sydney's former Department of Education building into a luxury hotel, and Damac International's progress on its Maldives resort. JLL India reported mixed hotel performance, Blackstone is reinvesting in Japanese real estate due to favorable market conditions, and A bsolute Hotel Services has made key management appointments.

Thai tourism officials hope for 2 million Russian tourists to visit Thailand next year, as Russian travelers have been unwelcome in many European tourist locations due to their government's illegal invasion of Ukraine. Marriott International's Sheraton Hotels & Resorts is expanding in Asia Pacific with five new properties in China and Japan , showcasing the brand's new design concept. ONYX Hospitality Group announced the grand opening of Amari Raaya Maldives , establishing its presence in the Southeast Asian hotel industry.

Accor Pacific's partners have invested over $300 million in hotel renovations and refurbishments across various locations in the Pacific region to enhance guest satisfaction and maintain a leading position in the industry. Centara Udon in Thailand underwent renovations and now offers remodeled facilities, new dining options, and event spaces. S Hotels and Resorts PCL is set to open SO/ Maldives , a new resort on a private island with beachfront and over-water pool villas, and various dining venues in November 2023.

Hotel RevPAR in China increased by 41.5% for the week, compared to a year ago. New hotel openings include InterContinental Shenzhen WECC in China, Novotel Rayong Star Convention Centre in Thailand , and INNSiDE by Melia hotel in Bangkok . NH Collection brand will debut in the Maldives with NH Collection Maldives Havodda Resort , and Mondrian Singapore Duxton has opened in Singapore's Chinatown.

China hotel RevPAR in the week ending June 10th: Up 66.7% YoY, down 2.6% compared to 2019. Chiang Mai 's tourism industry recovering with increased hotel occupancy rates and visitor numbers. New developments in the hospitality industry: Ritz-Carlton Reserve opens in Jiuzhaigou , Bookmark Resorts announces first wellbeing resort, and Karl Lagerfeld hotel in Malaysia .

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.