Latest news with #visitorArrivals
Skift
28-05-2025
- Business
- Skift
KSL Capital Partners Takes Majority Stake in Soneva
Sri Lanka's Tourism Minister announced the country is on track to achieve $5 billion in tourism revenue this year, driven by political stability and rapid growth in visitor arrivals. In 1Q25, Sri Lanka generated $1.2 billion in tourism revenue with expectations of $2.5 billion by mid-year. They will welcome their one millionth visitor of the year this week, nearly a month ahead of last year's timeline. 91,785 visitors arrived in the first 21 days of May. Singapore's Changi Airport set a new all-time record for passenger movements in 2024, up 9% year on year to 68.4 million. Following an initial investment in 2019, KSL Capital Partners exercised its right to convert securities to take a majority interest in sustainable luxury hotel brand Soneva. The Shivdasanis, the founders, will retain a stake. Neil Gallagher was appointed CEO of Soneva, coming to them from Clermont Hotel Group, where he was CEO and CFO. Marriott International, Inc. announced the global launch of its new collection brand for the midscale and upscale lodging segments, Series by Marriott, as the company continues to expand its lodging offerings around the world. Series by Marriott marks its initial launch through a founding deal with Concept Hospitality Private Limited (CHPL) in India, a key growth market for Marriott. Under the strategic agreement between CHPL and Marriott, CHPL's flagship brands, The Fern, The Fern Residency, and The Fern Habitat, will affiliate with Series by Marriott on an exclusive basis across India, and Marriott will make a small equity investment in CHPL. The Fern portfolio is currently comprised of 84 open properties and 31 executed pipeline deals, totaling 115 properties and approximately 8,000 rooms. Fern properties are expected to join Marriott's portfolio in India over time following discussions with the third-party hotel owners and execution of long-term franchise agreements with those owners. Boutique Corporation Public Company Limited signed a development and management agreement with Marriott International to launch the new JW Marriott Hotel Bangkok Sukhumvit 24, located in the Phrom Phong district. The 5-star development is one of Boutique Corporation's largest projects to date. The hotel is to be set on over 3 rai of prime land in central Sukhumvit and include premium guest rooms, fine dining restaurants, meeting and conference facilities, a grand ballroom, and a rooftop bar and restaurant with panoramic views of Bangkok. Construction is expected to begin in 2026 with an opening in 2030. Pontiac Land Group announced the official naming of the former Department of Lands building in Sydney, Australia, as The Lands by Capella. The Lands by Capella and existing Capella Sydney will be known as The Sandstone Precinct. The two Sandstone buildings mark Pontiac Land Group's first mixed-use development in Australia and are one of the largest privately funded tourism infrastructure projects in NSW. The Lands by Capella is expected to open in a heritage-listed building in 1Q 2026. It will offer approximately 10,000 square meters of luxury retail, refreshing F&B concepts with rooftop dining and large-scale event spaces, and be home to Florence Guild's newest venture, The Sandstones Club by Florence Guild. The 144-room Sebel Canberra Civic in Australia is on the market, six years after its opening. The hotel is located in the heart of the city, opposite the Legislative Assembly, occupying levels 1-9 of the 10-story building with 144 upscale, self-contained apartment-style guest rooms. Colliers is marketing the hotel for sale, expecting it to have a sale price of $50 million. Partnering with JH Group, IHG Hotels & Resorts will open voco Darwin Suites in the heart of the city's CBD, within walking distance to Darwin Convention Centre in Darwin, Australia. The 87-room voco Darwin Suites will be converted from a repurposed commercial office building and features an all-day dining restaurant, meeting space, fitness center, and outdoor pool. Radisson Hotel Group announced the opening of Radisson Blu Hotel, Shanghai Stadium, situated in the heart of Xujiahui Sports Park. The hotel features 208 rooms and suites, occupying floors 6 to 12 of Shanghai Stadium with sizes ranging from 38 to 200 square meters. The hotel includes nearly 1,000 square meters of meeting and events spaces, three distinct dining venues, and a fitness center with a hyperbaric oxygen chamber, workout facilities, and a swimming pool. Radisson Hotel Group also said they opened five new hotels in India in the first half of 2025 in Jamshedpur, Yelahanka, Koti, Gaj, and Prayagraj. They also signed three new hotels in the Eastern region. Hotel Deoghar in Jharkhand, Radisson RED Puri in Odisha, and Radisson Resort and Spa, Ranchi in Jharkhand are the new signings with a combined key count of 400. I.P. Constructions Private Limited announced the grand opening of Ramada by Wyndham Ghaziabad Vasundhara, a hotel located in the hub of Ghaziabad, India. The 160-room property has been years in the making. Thailand's Deputy Finance Minister Julapun Amornvivat continues to be the lead guy in trying to sway public opinion on the proposed Entertainment Casino Complexes that are expected to be approved by lawmakers in July, despite local opposition. He said his conversations with international hotel casino companies led him to believe the investments could reach US$6.2 to US$9 billion each, up from the expected US$3.1 billion. He did leave out the caveat that these companies are demanding ultra-low tax rates, a liberal policy to allow locals to gamble, and support from the government. The Bangkok Post painted a bit of a different picture, saying tensions are rising between the ruling Pheu Thai Party and coalition party Bhumjaithai. Remember that the coalition partner had a very outspoken comment against the entertainment complexes, even though they are supposed to be partners with the ruling party. The newspaper said the Bhumjaithai may not support the 2026 budget bill. OYO is said to have started discussions with bankers for yet another attempt at an IPO. This time, they are targeting a listing in the final quarter of the current financial year. Preliminary discussions with bankers have suggested a potential valuation of US$6 to US$7 billion for the IPO. OYO is engaging with both Indian and international banking institutions and aims to file the DRHP documents between August and September.
Arab News
22-05-2025
- Business
- Arab News
Qatar tourism sector accounts for 8% of GDP, official says
RIYADH: Qatar's tourism industry contributed 55 billion Qatari riyals ($15.1 billion) to the country's gross domestic product in 2024, accounting for 8 percent of total economic output, according to a senior official. The figure marks a 14 percent increase compared with 2023, Chairman of Qatar Tourism Saad bin Ali Al-Kharji said during a high-level business forum in Doha, the country's news agency reported. The uptick aligns with the Gulf nation's broader Tourism Strategy 2030, which aims to boost the sector's contribution to 12 percent of GDP and attract 6 million visitors by the end of the decade. The report stated: 'His Excellency highlighted some of 2024's achievements, which saw international visitor arrivals reached 5 million, a 25 percent year-on-year increase, with in-destination spend totaling nearly QAR 40 billion.' It added: 'The hospitality sector also achieved a key milestone, recording 10 million room nights sold during the year.' Speaking during a panel discussion titled 'Tourism in Focus' at the 5th edition of the Qatar Economic Forum, Al-Kharji emphasized the global shift in travel demand toward lifestyle-oriented and purpose-driven experiences, such as wellness retreats, cultural immersion, and luxurious nature-based getaways. He further noted that travelers are increasingly prioritizing experiences like personalized accommodations, culinary adventures, and curated cultural activities over traditional material purchases. 'Qatar's strategy aligns with these trends, focusing on six high-potential demand spaces and delivering 54 strategic projects across product development, regulation, and visitor experience enhancement,' the QNA report stated. The chairman highlighted that his organization is working closely with the Ministry of Public Health to develop a dedicated health tourism strategy, with several plans already approved. The Gulf nation ranks among the highest spenders on healthcare, allocating up to 12 percent of its annual budget to the sector, and Al-Kharji added further investments will boost tourism related to the industry. Qatar is also gearing up to host several major international sporting events in the coming years, including the FIFA U-17 World Cup annually from 2025 to 2029, the FIBA Basketball World Cup in 2027, and the 2030 Asian Games. The chairman underscored Qatar's commitment to combining luxury with sustainability across all projects, citing examples such as the Ras Abu Aboud Resort and the Qatar National Convention Centre. The center was the first venue in the region to be certified for both luxury and sustainability, alongside Msheireb Downtown Doha, which was developed to embody both eco-consciousness and upscale living. According to figures released in May, Qatar welcomed over 1.5 million international visitors in the first quarter of 2025, as the country continues to advance its tourism strategy built on major events, strategic partnerships, and diverse travel experiences. While slightly below the 1.6 million visitors recorded during the same period in 2024, the latest figures underscore Qatar's sustained momentum in attracting global travelers.
