Thailand

Accor announced its list of highly anticipated properties that will open in 2023 . Marriott International announced it expects to reach 50 hotels in Thailand by mid-2023, including adding an anticipated eight hotels next year. Anantara Veli Maldives Resort reopened on December 1, following nine months of extensive renovations.

Thailand celebrated the arrival of its 10 millionth international visitor of 2022 on Saturday, according to the tourism authority. Accor signed its first multiple-property framework agreement with Asset World Corporation , Thailand’s leading integrated lifestyle real estate group. Hyatt Hotels Corporation announced Hyatt Place Chengdu Bio-Town, the second Hyatt Place hotel in Chengdu .

Macau follows what China’s leadership tells them to and now it is confirmed that Zero Covid is dead. ONYX Hospitality Group unveiled plans to strengthen its serviced apartment brand, Shama . The Novotel Bali Benoa has reopened following a major renovation that will reposition the beachfront resort.

STR reported China hotel RevPAR for the week ended November 26 was up 2.2% year over year. Macau hotels’ had average occupancy in October of 41.8%, up 4.2 percentage points from September. Accor announced details on some of its newest properties across Australia and New Zealand that will be opening in 2023.

Pan Pacific Hotels Group announced it will double its serviced suites portfolio in 2023. Mandarin Oriental Hotel Group announced it will manage a new resort with branded residences in Phu Yen province, one of Vietnam’s coastal regions. InterContinental Khao Yai Resort in Thailand has unveiled 19 Suites and Villas, housed within repurposed heritage railcars marking the final phase of its opening journey.

STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019. CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global Portfolio. Crisil Ratings said the Indian hotel industry is likely to witness 23% growth in revenue this fiscal over the pre-pandemic level, driven by a strong recovery in business travel and continued traction in leisure travel.

The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. ONYX Hospitality Group said they reinforced their expansion plan with a strategic focus on its home territory of Thailand and neighboring destination, Malaysia . According to the recent Q3 2022 close of the Construction Pipeline Trend Report , Asia Pacific’s total construction pipeline, excluding China, stands at 1,881 projects.

STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies. In the recent China Construction Pipeline Trend Report from Lodging Econometrics , LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms.

STR reported Melbourne, Australia’s hotel performance reached a pandemic era high, according to preliminary October 2022 data from STR. JP Morgan issued a report projecting that airline travel in the Asia Pacific region will hit two-thirds of pre-pandemic levels by the end of the year. Indies Capital Partners announced the acquisition of a 60% stake in PT Swiss-Belhotel International Indonesia and PT Zest Hotels International Indonesia from Ciputra Group Indonesia.

Bloomberg said Fosun is also considering strategic options for French luxury resort chain Club Med SAS and could seek a value of about $1.5 billion for the business. Shanghai Disney Resort remains closed, two weeks after Covid-19 cases caused operations to cease. Marriott International announced plans to expand its select service portfolio in Greater China with the expected addition of 30 hotels in the segment by the end of 2023.