Sydney

India, Vietnam, Indonesia, Thailand, and Japan lead this quarter’s hotel construction pipeline in the APEC region. China doesn’t make an appearance.

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.

Melbourne has experienced a 21% increase in hotel rooms since 2019, with 22 new hotels and a rise in occupancy rates, making it the top city in Australia for interstate overnight trips.

The Philippine government is enhancing flight availability and establishing new routes to boost tourism from key and emerging markets.

Hilton announced the signing of 11 new properties in Thailand, Indonesia, and Vietnam, including the debut of the Tapestry Collection by Hilton in Southeast Asia.

Banyan Tree Higashiyama Kyoto, opening Q3 2024, will be Banyan Tree's first Japan hotel, featuring 52 guestrooms, a spa, and two dining options.

ITC shareholders approved the company's plan to spin off its hotel business, retaining a 40% stake, with overwhelming support from minority shareholders.

Oyo is seeking to raise $80-$90 million from InCred's family offices at a reduced valuation to pay off debt and refile for an IPO.

The Mandai Rainforest Resort, an eco-friendly resort operated by Banyan Tree and featuring 338 rooms including unique treehouses, is set to open in Singapore in early 2025, following delays due to the Covid-19 pandemic.

Brookfield Asset Management is planning to list its luxury hotel chain, The Leela Palaces, Hotels & Resorts, which represents the largest-ever foreign investment in the Indian hospitality sector.