Latest news with #ChinaHotels
Skift
13 hours ago
- Business
- Skift
North Korea Opens Wonsan Kalma Coastal Tourist Zone
STR reported China hotel data for the week ended June 21. China hotel RevPAR was down 7.7% year-over-year. At least this week, it was up against a tougher comp of a 2.2% gain in the year-ago week. For the week ended 6/21/25, ADR was down 2.3% year-over-year while occupancy was down 5.5% for the week. PATA released their Asian Pacific Visitor Forecasts 2025-2027: Mid-Year Update. Under their medium scenario, international visitor arrivals to Asia Pacific are expected to reach 801 million by 2027, up from 692 million in 2025. China remains the top inbound market, forecast to welcome up to 148 million visitors by 2027. The U.S. and Türkiye are not far behind, with Türkiye and Mongolia poised for the most robust recovery. China continues to lead outbound travel, with the U.S., Korea, and Japan showing stability, and India, the UK, and the Russian Federation becoming increasingly significant source markets. In another troubling situation for Thailand, a report surfaced saying the turmoil in the Middle East has tourists from the Persian Gulf countries, as well as the U.S. and Europe, increasingly canceling their trips. The Thailand Hotel Association warned that the number of tourists from the U.S., Europe, and the Middle East could fall by 10% and as much as 20%, particularly noticeable this summer, as that is the peak season for Middle Eastern visitors seeking coolness in Thailand. The Deputy Director of Tourism Authority of Thailand also blamed higher tariffs and rising prices, caused by the trade and foreign policies of U.S. President Trump, for the declines. They are also concerned about the potential for oil prices to rise, along with a whole bunch of other reasons why Thailand will not come close to their projected arrival numbers this year. Yesterday, we reported how Thailand's ruling government optimistically said they are pushing forward with their Entertainment Casino Complexes bill, would have their first reading in a few weeks, and they had enough votes to pass. A few hours later, they announced they were postponing the reading of the bill because they needed time to educate the public. A year of debating this is not enough time to educate the public? The government claims that it believes the public thinks the Entertainment Complexes are just casinos, and that is what the bill is all about, not the non-gaming activities that the bill would authorize for development. Savills (Macau) Limited said The 13 Hotel in Macau has been sold for HK$600 million (US$76 million) to a local investor, not the US$51 million that was previously reported. Savills said the deal marked the first hotel property transaction in Macau this year. The new owner plans to invest HK$200 million to HK$300 million in repositioning and comprehensive interior and exterior renovations of the property. The redevelopment is expected to integrate French palace aesthetics with non-gaming elements. The new owner is assembling a team and developing plans that will completely reimagine everything from interior design to dining facilities. The 199-room property had been marketed with an asking price of HK$2.4 billion. JLL has been appointed as the management company for the hotel to ensure a smooth transition. Mirah Investment & Development announced the soft launch of Kuara Resort, a boutique beachfront retreat on the southern coast of Lombok, Indonesia. Kuara has just 16 villas and is the third full-scale resort delivered within an 18-month span by Mirah. The villas range from one to three bedrooms, with select ones featuring direct beachfront access, private swimming pools, or open-air fire pits. Kim Jong Un celebrated the official opening of the Wonsan Kalma coastal tourist zone. The new coastal zone has hotels, sports facilities, restaurants, and can host nearly 20,000 guests. As to where the guests will come from, that is the big mystery, because it will only be open to local tourists. Regardless, the North Korean leader said this is a proud first step in building a stronger tourism industry. In India, Royal Orchid Hotels Ltd. said it is embarking on an aggressive expansion with plans to triple the number of properties and rooms to over 300 and 20,000, respectively, in the next five years. The company is also getting into the budget segment, targeting youngsters and Gen Z customers under the Regenta Z brand. It added 14 hotels in the past year, over 960 rooms, up to 115 hotels today. In the next one to one and a half years, it wants to add another 30 hotels, and in the next five years, it wants to triple its room count and number of hotels, targeting 300-plus hotels. Royal Orchid has a new 5-star brand, 'Iconiqa', with all its further five-star hotels to be under this brand. Royal Orchid will now have seven brands – Iconiqa, Hotel Royal Orchid, Royal Orchid Central, Crestoria, Regenta, Regenta Place, and Regenta Z. RCI announced the addition of several Club Mahindra properties in India to its global exchange network. The partnership significantly expands RCI's presence in India, and provides its members with access to a wider range of holiday experiences. The newly affiliated Club Mahindra resorts in RCI include Club Mahindra Kensville Golf Resort in Ahmedabad; Club Mahindra Le Vintuna Managed Resort in Gangtok; Club Mahindra Assonora Resort in Goa; Club Mahindra Bharatpur Resort; Club Mahindra Saura Hotel in Agra; Club Mahindra at the Chumbi Mountain Retreat Resort & Spa in Pelling; and Club Mahindra Pavagadh, located near the UNESCO World Heritage Site of Champaner-Pavagadh Archaeological Park. Personnel Move Okura Nikko Hotel Management Co., Ltd., a unit of Hotel Okura Co., Ltd., announced that Hidechika Takasaka has been appointed President and Representative Director. In 2024, he was appointed Director of the Board and Senior Managing Executive Officer at Okura Nikko Hotel Management.
Skift
22-05-2025
- Business
- Skift
Leela Owner Schloss Bangalore Cuts IPO Size Before May 26 Listing
STR reported China hotel data for the week ended May 17th. China hotel RevPAR was down 10.5% year-over-year. It was up against a decline of 7.1% in the comparable result in the week in 2024. For the 2025 week, ADR was down 7.1% year over year while occupancy fell 3.6%. Macau visitor arrivals in April rose 18.9% to 3,092,791. On a month-to-month basis, that was up only 0.7%. The Statistics and Census Service said mainland Chinese visitors increased by 22.4% year-on-year to 2,126,212. Hong Kong visitation was up 13.4% to 659,844. International visitors totaled 230,014 in April, up 10.4% year on year. There were 1,755,592 same-day visitors in April, while overnight visitors totaled 1,337,199, up by 30.1% and 6.9% respectively. For the first four months of the year, visitor arrivals to Macau are up 12.9% to 12,955,456, with same-day visitor growth surging 23.4% while overnight visitors are only up 0.8%. The Leela owner, Schloss Bangalore's IPO dreams are still alive, but not as grand as before. They cut the IPO size by 30%, filing an updated prospectus for the IPO with the Bangalore Stock Exchange. Schloss is selling shares worth 25 billion rupees in the IPO, about 17% less than originally planned, while Brookfield Asset Management is selling about 8% of its stake, about 10 billion rupees worth. Schloss said they filed for the IPO in September last year to help service its debt, but since they have lowered debt obligations, they do not need to sell as much in the IPO. Schloss cited that and improved business at the company. Brookfield Asset Management acknowledged the market has become more volatile in recent months. The Leela is one of many planned IPOs that had to either delay or downsize their plans. Leela's IPO listing is planned for May 26th. IHG Hotels & Resorts announced the signing of a major long-term agreement with Salter Brothers. Several high-profile IHG hotels in Melbourne, Canberra, the Gold Coast, and Sydney will be rebranded and repositioned within the company's portfolio. Salter Brothers is making this deal as they continue to pursue an IPO on the Australian Exchange of their hospitality vehicle. IHG's strategic Luxury & Lifestyle expansion will see three properties joining its InterContinental brand as Crowne Plaza Sydney Coogee Beach will become InterContinental Sydney Coogee Beach; Crowne Plaza Melbourne will become InterContinental Melbourne, and the Crowne Plaza Canberra site will be redeveloped into the new InterContinental Canberra. A second hotel will also be developed on the site, bringing Hotel Indigo to Canberra. The voco Gold Coast, the first voco hotel to open and another IHG/Salter collaboration, will undergo a refurbishment and expansion of its leisure facilities. IHG said the Regent Hotels & Resorts brand will also come back to Australia after 28 years, with Regent Melbourne on track to rebrand the InterContinental Melbourne The Rialto in 2030. The resort complex from the Trump Organization in Hung Yen Province, northern Vietnam, has begun construction. The complex will be developed over 9.9 square kilometers and will include three 18-hole golf courses, a five-star hotel, luxury residential areas, and various amenities. The first phase of the project is expected to be completed within two and a half years, with the entire project targeted for completion by 2029. BWH Hotels announced the addition of ASpaces Riverside Danang as a Best Western Plus hotel, adding to their portfolio in Vietnam. Situated in downtown Danang, just steps from the Han River, the Best Western Plus ASpaces Riverside Danang is described as a modern urban hotel with the ambiance of an upscale resort. The 136-room hotel includes a rooftop pool, sky bar, and an in-house craft brewery. They have a restaurant, fitness center, and more, located across APAC Park. Hyatt Hotels announced plans for the Hyatt House brand to debut in the National Capital Region of India as part of a landmark mixed-use development. The 127-key extended stay hotel will be located on an 11.16-acre site in Noida, owned by IT Infrastructure Park Private Ltd., a unit of CRC Group. Hyatt House Noida Sector 140A will be strategically positioned to cater to business travelers seeking a seamless blend of comfort, convenience, and modern amenities. It will include a fitness center, outdoor pool, recreational zone, 125-seat all-day restaurant, poolside bar, and a market-style café with grab-and-go options. There will be large conference and event spaces, outdoor seating, and a private dining room. Chroma Hospitality, Inc., the hospitality management arm of Filinvest Development Corp, is opening the Grafik Pine House within the Camp John Hay complex in Baguio either at the end of this year or the beginning of next. The Philippines property will be followed by a second Grafik Hotel in Moalboal. Grafik Pine House will have 256 rooms spread over six floors in a split-level development. The hotel will have a spa and four dining outlets, leaving out a buffet, as Chroma does not believe the buffet is socially correct anymore. Chroma said the deal is with John Hay Management Corporation, a subsidiary of Bases Conversion and Development Authority, which leased the land to Chroma. Nustar Resort Cebu in Cebu, Philippines, announced the opening of Nustar Hotel Cebu. The hotel has 223 rooms and will be positioned as a hotel that combines the luxury pursued by the Nustar brand, global services, and customized experiences. Nustar Hotel Cebu is the second of three hotels to open within NuStar Resort Cebu, about a 30-minute drive from Mactan-Cebu International Airport. Signature rooms start from 52 square meters, while suite rooms range from 77 square meters to 225 square meters. Personnel Moves Accor and InterGlobe said Gaurav Bhushan will be Chairman of their proposed joint hospitality enterprise in India. Bhushan was previously Global Chief Development Officer for Accor. The new platform from the two companies is targeting a network of 300 hotels under Accor brands by 2030. The new enterprise will be a single, autonomous entity integrating the entire brand portfolio of Accor and Ennismore. Dusit International announced Ms Prachoom Tantiprasertsuk, VP – Operations (Central & Southern Thailand) and Government & Business Relations, has been appointed President of the Thailand Incentive and Convention Association for the 2025-2026 term.
