Latest news with #hoteloccupancy
Skift
12 hours ago
- Business
- Skift
Ascott Limited Expands Crest Collection Across East Asia and Middle East
Indonesia's Central Statistics Agency reported that the occupancy rate for star-rated hotel rooms in April reached 46.98%, a monthly increase of 13.42%. Year-over-year, that was a decline of 0.16 percentage points. Bali had the highest occupancy rate for star-rated hotels at 57.23%. The biggest month-to-month increase was in West Sumatra, up 26.84% to 48.34%, driven by the Eid holidays, extended Easter weekend, and the hosting of various film, sports, arts, and cultural events. Marriott International's Courtyard by Marriott brand announced the opening of Courtyard by Marriott Pyeongtaek, the South Korean city's first internationally branded hotel. The hotel offers 220 rooms, including four spacious suites. BLT Steak is the premium dining entity on the lobby level, the Korean debut of the New York steakhouse. The hotel's all-day dining buffet is Tavolo 24. The Courtyard property also offers meeting and event space, including the Grand Ballroom, which can host up to 180 guests. ONYX Hospitality Group announced the launch of its newest hotel, Amari Bangsaen, located directly across from Bangsaen Beach, one of Thailand's most popular coastal destinations. The property offers 154 rooms and suites, 15 function rooms of various sizes, and several dining options. Additional amenities include the Breeze Spa, FIT Centre, and a Kids' Club. The Ascott Limited, the wholly-owned lodging business of CapitaLand Investment, said they are accelerating the global expansion of its European-born luxury brand, The Crest Collection. Over the past six months, the brand has gained momentum across East Asia and the Middle East, adding over 1,200 units from four new signings and one opening. The portfolio now comprises 16 properties with over 2,700 units, both operational and in the pipeline, across 11 countries and 13 cities. The SEN/KA Tokyo by The Crest Collection is among the newest additions, set to open in the second half of 2029, marking the brand's debut in Japan. Hong Yuan Hotel by The Crest Collection opened in Haikou, Hainan Province in China, at the end of last year, and another property is slated to open by mid-2026 in Wuhan's Donghu New Technology Development Zone. The brand's first resort and debut in the UAE will be Al Mahra Resort by The Crest Collection in early 2027. Their first property in Saudi Arabia will open in Riyadh in 2028. Upcoming this year will be the brand's fourth property in Southeast Asia, Le Clef Bangkok by The Crest Collection. IHG Hotels & Resorts signed a management agreement with Kevit Retreats Private Limited for the development of Holiday Inn Express & Suites Pithampur. Scheduled to open in the first quarter of 2028, the hotel will be part of a large-scale mixed-use development comprising industrial logistics and warehousing facilities. The hotel will feature 150 rooms, two dining options, modern meeting spaces, a fitness center, and parking. Royal Orchid Hotels Ltd. announced the signing of a new Regenta-branded hotel in the town of Dehradun, Uttarakhand. The property will operate under a management contract aligning with Royal Orchid's asset-light expansion strategy. With this hotel, ROHL will have eight hotels in Uttarakhand. The 50-key hotel in Kulhan is expected to open this month, spanning 5,050 square meters. The resort will feature an all-day dining restaurant and a rooftop restaurant with other amenities including a spa, gym, infinity pool, kids area, and meeting and event space, including a 12,300-square-foot banquet hall complemented by a 1,506-square-foot open lawn and a 1,636-square-foot pre-function area. Shangri-La Group announced the official launch of its new ultra-luxury brand, Shangri-La Signatures, with the grand opening of its inaugural property: The Silk Lakehouse, Shangri-La Hangzhou. The property is set on the tranquil shores of West Lake – a UNESCO World Heritage Site. The hotel includes 68 rooms and suites, a grotto-style indoor swimming pool, a collection of dining concepts, and more. DoubleDragon Corp said the United States Securities and Exchange Commission declared effective its Hotel101 Global Holdings Corp subsidiary's registration statement in connection with the business combination with JVSPAC Acquisition Corp for its NASDAQ listing. The business combination values Hotel101 at an equity value of US$2.3 billion and is expected to finally list on Nasdaq this month. The original target was late last year. The stock will trade under the symbol HBNB with Hotel101 to become the first Filipino-owned company to be listed and trade on Nasdaq. La Vie Hotels & Resorts announced the acquisition of management rights for the former Rydges Norwest in the Sydney Hills District business and residential area. The property has been rebranded under a white label as Visy Dior Hotels International. Visy Dior Hotels International is located 30 minutes from the Sydney CBD and offers 132 rooms, including Executive Spa rooms and Balcony King rooms, along with a restaurant, swimming pool, fitness center, and extensive function facilities. The hotel is set to undergo up to $18 million in transformation over the next 18 months. The full-scale renovation includes plans for the redesign of guest rooms and function spaces, the introduction of innovative dining experiences, and the development of a new grand ballroom capable of hosting 880 guests. Personnel News Langham Hospitality Group has named Kevin Robinson as Chief Operating Officer, effective April 14, 2025. Robinson returns to the Group after previously leading The Langham, Chicago. Robinson will lead day-to-day operations across the Group, with a focus on maintaining execution readiness as the company prepares to manage an expanded portfolio. He will also oversee future hotel openings.
Hospitality Net
08-05-2025
- Business
- Hospitality Net
Basel hotel booking levels topping 90% for Eurovision
ARLINGTON, Va. – The upcoming Eurovision Song Contest is pushing Basel hotel booking levels as high as 97%, according to the latest Forward STAR data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. Basel's St. Jakobshalle will host this year's Eurovision between 13-17 May. As of 28 April, the market shows its highest occupancy on the books (97.3%) for the final night of the contest. Occupancy on the books for the night before is 92.6%, while the other three nights are in the mid-80% range. The Swiss city was announced as host of Eurovision in August of last year, which has allowed for demand to drive occupancy to compression levels. The level of compression is also a reflection of the lower number of hotel rooms available in the market, with past hosts in the region, Vienna (2015) and Dusseldorf (2011), being much larger. Alex Robinson, regional director at STR — Source: STR For more information about the company and its products and services, please visit Additional Performance Data CoStar's world-leading hotel performance sample comprises more than 88,000 properties and 11.5 million rooms around the globe. Members of the media should refer to the contacts listed below for additional data requests. About CoStar Group, Inc. CoStar Group (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information, and analytics in the property markets. Founded in 1987, CoStar Group conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of real estate information. CoStar is the global leader in commercial real estate information, analytics, and news, enabling clients to analyze, interpret and gain unmatched insight on property values, market conditions and availabilities. is the leading online marketplace for renters seeking great apartment homes, providing property managers and owners a proven platform for marketing their properties. LoopNet is the most heavily trafficked online commercial real estate marketplace with thirteen million average monthly global unique visitors. STR provides premium data benchmarking, analytics, and marketplace insights for the global hospitality industry. Ten-X offers a leading platform for conducting commercial real estate online auctions and negotiated bids. is the fastest growing online residential marketplace that connects agents, buyers, and sellers. OnTheMarket is a leading residential property portal in the United Kingdom. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. Business Immo is France's leading commercial real estate news service. Thomas Daily is Germany's largest online data pool in the real estate industry. Belbex is the premier source of commercial space available to let and for sale in Spain. CoStar Group's websites attracted over 163 million average monthly unique visitors in the third quarter of 2024. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada, and Asia. From time to time, we plan to utilize our corporate website, as a channel of distribution for material company information. For more information, visit This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations or beliefs regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements. The following factors, among others, could cause or contribute to such differences: the risk that future media events will not sustain an increase in future occupancy rates. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including in CoStar's Annual Report on Form 10-K for the year ended December 31, 2023 and Forms 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024, and September 30, 2023, each of which is filed with the SEC, including in the "Risk Factors" section of those filings, as well as CoStar's other filings with the SEC available at the SEC's website ( All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Karolina Capova Media Relations Executive – STR STR View source
Skift
07-05-2025
- Business
- Skift
Hilton Plans India Footprint Expansion and Introduces New Brands
The Singapore Tourism Board said hotel rates, revenue, and occupancy fell in Q1 25 year-over-year, even with international arrivals being somewhat flat. Average room rate in Q1 was S$272.63, down 3.3% year over year, with March taking the big hit, down 7.3%. Tourist arrivals were up 0.1% to 4.31 million, even with an 11.5% drop in March. The STB said the March weakness was on timing and tough comps, as March 2024 had a lot of special events, including Taylor Swift's The Eras Tour. Hotel occupancy was 80.96% in the quarter, down from 81.65% in Q1 24. China was the top source of tourists in Q1 25, accounting for 831,470 visitors. Indonesia was second with 640,257, but Japan had the most growth, up 17% to 161,342. The Macao Government Tourism Office reported that Macau's average hotel occupancy rate during the May Day holiday period was 94.1%, up 5 percentage points compared to the same period last year. The highest occupancy rate was recorded on Friday, May 2, reaching 98.1%, the same day the daily arrivals peaked at 221,926. Beijing's tourism sector set new records during the five-day May Day holiday, with the Chinese capital receiving 17.9 million visitors during the five-day holiday period, up 5.6% from last year. The Beijing Municipal Bureau of Culture and Tourism said tourism revenue reached US$2.9 billion, up 6.9% from last year's holiday. The city received 104,000 international visitors, up 42.4% from last year, with their spending up 48%. Hilton announced plans to double its brand footprint in India over the next five years. Hilton announced the debut of their first LXR Hotels and Resorts property there, slated to open in Bengaluru in 2026. The Den will join the LXR Hotels and Resorts portfolio. Slohh by Roach will join the Curio Collection by Hilton, debuting as Hilton's first lifestyle hotel in India. In Jaipur, Hilton will introduce the first Signia by Hilton in 2028, debuting that premier luxury brand in the country. The city will also welcome Conrad Hotels & Resorts and Waldorf Astoria Hotels & Resorts by 2027. Hilton said their DoubleTree by Hilton full-service brand remains their largest in India, with 11 operating hotels and 12 in development in cities such as Siliguri, Bhopal, Kochi, and Chandigarh. The first Spark by Hilton is set to open this year, which is part of the license agreement they signed with Olive by Embassy late last year. Marriott International has invested US$15 million in Mumbai-based Concept Hospitality, the Fern Hotels operator. Concept manages over 120 mid-market to luxury hotels. Concept Hospitality is majority-owned by Nepal's CG Corp Global. This is the company that Marriott signed an agreement with for The Farm at San Benito, going under the Autograph Collection in the Philippines. The 299-room Citadines Raffles Place Singapore has changed hands. CapitaLand Integrated Commercial Trust Management Ltd. sold the serviced-residences-style hotel in Singapore's Marina Bay neighborhood for S$280 million. Asian news site Mingtiandi said the buyer was BlackRock in a joint venture with YTL Hotels. The new owners acquired 100% of Glory SR Trust, the CapitaLand unit that held the ownership of the 51-floor CapitaSpring skyscraper. The other 30 or so floors are held by Glory Office Trust. Wyndham Hotels & Resorts announced the expansion of its Australian portfolio with the signing of Ramada Encore by Wyndham Adelaide, South Terrace. This is the brand's first hotel in the region, strategically positioned in Adelaide's cultural and commercial heart. The Ramada Encore by Wyndham Adelaide, South Terrace will offer 94 rooms, catering to both business travelers and leisure guests. IHG Hotels & Resorts will introduce its luxury lifestyle brand, Kimpton, in Malaysia with the opening of Kimpton Naluria Kuala Lumpur in the fourth quarter of 2025. The 26-story hotel is located in the Tun Razak Exchange and will feature 466 rooms. Dining options will include four distinct venues, including a destination rooftop bar and lounge. Five versatile event spaces will also be available, as well as most of the Kimpton signature amenities. The One&Only Desaru Coast in Johor, Malaysia, is no longer a One&Only. News outlets reported the property ceased operations on May 1st, but that was wrong, as it is still open, just not managed or branded by One&Only anymore. The 45-suite property is owned by Desaru Peace Holdings Sdn Bhd, and they made a statement saying they reached an agreement with One&Only to transition away from each other. DPH will soon announce the appointment of another operator along with new updates and developments, but in the meantime, the resort will continue to welcome guests with existing bookings. Personnel Moves Accor announced the appointment of Kent Zhu as CEO of Accor Greater China, effective May 1, 2025. Prior to joining Accor, he was president of Genting Cruise Lines and was previously with Shangri-La Hotels and Resorts and Wanda Hotels & Resorts. Accor also announced the appointment of Zara Singh as director of revenue—India & South Asia. She previously held executive titles with Oberoi Group, Taj Hotels, Marriott, IHG, and Hilton. SJM Resorts' chief operating officer Ben Toh will retire from his full-time role next week. He will continue as a consultant. SJM is not planning to seek a replacement and instead will have an organizational restructuring that will include the appointment of a chief hospitality officer.
