Latest news with #hotelrenovations
Skift
13-05-2025
- Business
- Skift
Riyaz Forms Joint Venture with Jin Jiang Hotels for Southeast Asia Expansion
Lodging Econometrics' Q1 2025 Hotel Construction Pipeline Trend Report for China reveals that the construction pipeline stands at 3,704 projects/670,185 rooms. At the close of the first quarter, China has 2,752 projects/490,897 rooms under construction, 316 projects/55,287 rooms are scheduled to start construction anytime within the next 12 months, while 636 projects/124,001 rooms are in the early planning stage. Construction starts in China stood at 237 projects/38,775 rooms at the end of the first quarter. Hotel renovations and brand conversions in China at Q1 stand at 189 projects/34,797 rooms. The upper midscale chain scale continues to lead China's hotel construction pipeline at the close of the first quarter with 1,161 projects/177,644 rooms. Upscale chain-scale projects in China stand at 1,043 projects/223,499 rooms. Cities in China with the greatest number of hotel construction projects in the total pipeline at the close of the first quarter continue to be led by Chengdu with 145 projects/25,898 rooms. Shanghai follows with 131 projects/24,733 rooms, Guangzhou with 119 projects/24,384 rooms, Hangzhou with 96 projects/19,425 rooms, and Xi'an with 89 projects/15,768 rooms. During the first quarter, 144 new hotels/21,797 rooms opened in China, with an additional 1,009 new hotels/151,907 rooms forecast to open throughout Q2-Q4. LE analysts forecast a total of 1,153 new hotels/173,704 rooms to open in China by year-end 2025, while for 2026, 765 new hotels/133,332 rooms are forecast to open. Goa Tourism reported a 10.5% year-on-year growth in tourist arrivals in Q1 25. Goa Tourism said this sustained momentum highlights Goa's evolution from a seasonal beach destination to a globally connected, culturally immersive, and year-round tourism economy. The Department of Tourism, Government of Goa, has been strengthening its promotions in core and emerging markets, expanding international air connectivity, and diversifying tourism offerings. The focus, as Goa goes through 2025, is on offering value-driven tourism, responsive governance, and shared prosperity, setting a benchmark for resilient and forward-looking tourism in India. Frasers Property is planning a privatization offer for its Singapore-listed hospitality REIT. Dow Jones reported that discussions to take Frasers Hospitality Trust private are in the early stages. The REIT has a portfolio of 14 assets, including eight hotels and six serviced residences in nine cities across Asia, Australia, and Europe, with properties including InterContinental Singapore, Fraser Suites Sydney, Novotel Melbourne on Collins, Fraser Suites Queens Gate London, and Park International London. Frasers Property has a 24.23% stake in the REIT, while its majority shareholder, TCC Assets, has a 36.72% stake in Frasers Hospitality Trust. This follows the REIT saying last month that its managers were reviewing the trust's business and exploring various options. Frasers Property made an offer to take the REIT private in 2022 but didn't get the approvals from the unit holders. RIYAZ International Sdn. Bhd has entered into a landmark strategic partnership with Jin Jiang Hotels China Region to form a new joint venture called RJJ Hotels Sdn. Bhd. The first hotel management agreement for the Malaysian/Chinese joint venture was signed on May 3 for a property in Luang Prabang, Laos. RJJ was granted licensing rights to manage and expand five renowned brands under Jin Jiang Hotels across Southeast Asia. The joint venture is targeting signing 181 hotel management agreements and to have 108 hotels in operation over the next five years across key growth markets including Malaysia, Indonesia, Vietnam, the Philippines, Cambodia, and Laos. The first HMA was signed with Sanher Investment & Development Co. Ltd. The Luang Prabang, Laos hotel will carry the Jin Jiang brand, Metropolo, scheduled to open in early 2026. Metropolo properties are usually 4 to 5-star hotels, typically featuring 100 rooms or more, positioned in main cities. Malaysia is the headquarters for RJJ Hotels. The five hotel brands under the Jin Jiang portfolio that will be part of the collaboration include Metropolo JinJiang Hotels, Ginco Hotel, Renjoy Hotel, Lavande, and JinJiang Inn. Radisson Hotel Group announced the opening of Radisson RED Phuket Patong Beach, marking the brand's introduction to Thailand. The hotel is located just 200 meters from Patong Beach. It has 388 rooms, described as more than just a hotel, a social hub where creativity and connection thrive. The hotel has an art-inspired lobby, bold RED rooms, communal spaces like co-working hot desks, and private pods. There are eight food and beverage venues, including the Hard Rock Café Phuket, a rooftop beach club, and live DJ sets in the lobby. For wellness enthusiasts, the hotel has an Atlas Gym, hydrotherapy treatments, and an upcoming red-light therapy spa. There are five multi-functional meeting rooms, a grand ballroom, and more. Outrigger Resorts has added its fourth resort property in Thailand, with the acquisition of the Zeavola Resort. The property is located in the extreme north of Phi Phi Island and will shortly undergo a complete renovation, upgrading both the guest rooms and common areas. The relaunch in October 2025 will include 63 suites and villas. The reopened Zeavola Resort will join Outrigger's other Thailand properties, located in Koh Samui, Khao Lak, and Surin Beach, Phuket. The relaunch will come almost exactly one year after Outrigger's most recent property launch, the opening of Outrigger Waikiki Paradise Hotel in Hawaii. Hyatt Hotels announced the signing of a management agreement for Grand Hyatt Indore with Krivish Hospitality Private Limited. The hotel will be developed on an emerging 11.5-acre site and will bring the Grand Hyatt brand to the city of Indore, Madhya Pradesh, India. The Grand Hyatt Indore will feature 250 rooms and suites, five signature food and beverage concepts, and an expansive meetings and event space spanning over 53,000 square feet, including a 27,986 square foot ballroom. Recreational amenities will include a spa, fitness center, swimming pool, and dedicated entertainment areas. The luxury hotel is expected to open in 2029. Mahindra Holidays & Resorts India Ltd's flagship brand Club Mahindra has turned its Acacia Palms resort in Goa into an all-women-run property. While this is the first resort of its kind across the Club Mahindra portfolio, the company plans to open more resorts under women's leadership in various regions. Acacia Palms resort has 60 rooms. Wafaifo Resort Hoi An has launched a purpose-built meetings and event space designed to support group travel, business gatherings, and creative sessions in central Vietnam. The resort's newly unveiled 270 square meters of event space can accommodate up to 200 people. It is just a short walk from Hoi An's UNESCO-listed heritage center and a 10-minute drive from An Bang Beach.
Hospitality Net
13-05-2025
- Business
- Hospitality Net
Upscale Chain Scale Reaches All-Time Pipeline High as China's Construction Pipeline Adjusts
Lodging Econometrics (LE's) Q1 2025 Hotel Construction Pipeline Trend Report for China reveals that the construction pipeline stands at 3,704 projects/670,185 rooms, which is down slightly from the peak project total China's pipeline reached in Q3 2024. At the close of the first quarter, China has 2,752 projects/490,897 rooms under construction, 316 projects/55,287 rooms are scheduled to start construction anytime within the next 12 months, while 636 projects/124,001 rooms are in the early planning stage. Construction starts in China stood at 237 projects/38,775 rooms at the end of the first quarter, showing a 13% increase in projects and a 16% increase by rooms compared to the previous quarter (Q4 2024 with 210 projects/33,538 rooms). Meanwhile, hotel renovations and brand conversions in China at Q1 increased to 189 projects/34,797 rooms, up 12% by projects YOY. The upper midscale chain scale continues to lead China's hotel construction pipeline at the close of the first quarter with 1,161 projects/177,644 rooms. Upscale chain scale projects in China reached an all-time high project total at Q1, standing at 1,043 projects/223,499 rooms, and up 11% by projects YOY and 5% by rooms YOY. Together, these two leading chain scales account for 60% of projects and 60% of rooms in the country's total pipeline. Cities in China with the greatest number of hotel construction projects in the total pipeline at the close of the first quarter continue to be led by Chengdu, with 145 projects/25,898 rooms. Shanghai follows with 131 projects/24,733 rooms. Next is Guangzhou with 119 projects/24,384 rooms, up 8% by projects and 5% by rooms YOY. Guangzhou is followed by Hangzhou, with 96 projects/19,425 rooms, and Xi'an, with 89 projects/15,768 rooms. During the first quarter, 144 new hotels/21,797 rooms opened in China, with an additional 1,009 new hotels/151,907 rooms forecast to open throughout Q2-Q4. LE analysts forecast a total of 1,153 new hotels/173,704 rooms to open in China by year-end 2025, while for 2026, 765 new hotels/133,332 rooms are forecast to open. About Lodging Econometrics (LE) For over 25 years, Lodging Econometrics (LE) has been the industry-leading provider of global hotel intelligence and decision-maker contact information. LE custom-builds business development database programs for hotel franchise companies looking to accelerate their brand growth, hotel ownership and management companies seeking to expand their real estate portfolios, and lodging industry vendors wanting to increase their sales. To learn more about our business development programs contact us: +1 603.431.8740, ext 0025 or [email protected]. View source
