Asset World Corporation (AWC), Thailand's leading integrated lifestyle real estate group and Hyatt Hotels Corporation (NYSE:H), today announced their affiliates have signed a Framework Agreement for the development and management of new hotels under various Hyatt brands in locations across Thailand.
Utopia Corporation, Phuket's leading property developer, is no stranger to pioneering prestigious real estate projects; this innovative company has successfully introduced the island's first themed condos and residences and recently unveiled plans to launch a luxury boutique hotel in partnership with Tonino Lamborghini, the legendary Italian designer label.
Marriott is set to significantly expand its portfolio of properties in Japan, with the opening of three new Fairfield hotels this month, and a further three by the end of summer 2021.
Swiss-Belhotel International, currently has a portfolio of 75 operating hotels in Indonesia and continues its success with seven new properties scheduled to be launched by 2023. With the latest additions to the global hospitality chain's portfolio, the Group's footprint will grow to an incredible 82-property presence in the country.
South East Asia accounts for 12% of the Accor network worldwide, with nearly 385 hotels and 88,000 rooms. This figure is sure to grow in the future, given that the region boasts 190 hotels in its pipeline. Among them, Mercure Ambassador Jeju, ibis Styles Ambassador Incheon Airport, Mercure Ambassador Pyeongtaek, and Mercure Ambassador Mokpo will open in the next 5 years in South Korea.
According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline dipped slightly at the end of Q4 '20 to stand at 3,375 projects/639,811 rooms, down 4% by projects and 1% by rooms year-over-year (YOY). This is the second quarter off the peak reached in Q2 '20, where construction pipeline totals stood at 3,574 projects/647,704 rooms.
Phuket's sizeable mega-villa property sector has experienced an unexpected surge in multi-million-dollar sales over the past year as Thai buyers sought refuge in the global Covid-19 crisis. Over THB5 billion (approximately USD167 million) in primary and secondary high-end properties transacted at the height of the pandemic.
The Fern Hotels & Resorts, India's leading environmentally sensitive hotel chain will be opening 8 new hotels in the first half of 2021, informed Noshir A Marfatia, Senior Vice President - Sales & Marketing, The Fern Hotels & Resorts.
Centara Hotels & Resorts, Thailand's leading hotel operator, expands its footprint in Southeast Asia, following the signing of Hotel Management Agreements (HMAs) for one resort in Khao Yai, Thailand, and two resorts in Vang Vieng, Laos, adding 304 keys to Centara's group portfolio.
Hyatt today announced that UrCove, the new hospitality brand developed under a joint venture between Hyatt and BTG Homeinns Hotel Group affiliates, opened its first five properties - UrCove Shanghai Jing'an, UrCove Shanghai Lujiazui EXPO, UrCove Shanghai Wujiaochang, UrCove Chengdu City Center and UrCove Nanjing South Railway Station.
Marriott International, Inc. (Nasdaq: MAR) today announced the expansion of its footprint in Japan with the debut of six of its hotel brands in the country in 2020. Newly introduced brands include AC Hotels by Marriott, Aloft Hotels, EDITION, JW Marriott, Fairfield by Marriott and Ritz-Carlton Reserve. With these additions and other openings during the year, the company will end 2020 with a total of 63 open properties in Japan represented across 18 brands.
Fortune Hotels, a member of ITC's hotel group today announced the signing of four individual operating agreements for hotels in Candolim (Goa), Deoghar (Jharkhand), Haldwani (Uttarakhand) and Tirupur (Tamil Nadu).
Indian Hotels Company, (IHCL), South Asia's largest hospitality company, announced the signing of three Taj hotels - two in Kolkata, West Bengal and one in Patna, Bihar. These new hotels are in partnership with Ambuja Neotia Group, who have already partnered with IHCL for two other hotels in the East - Taj Chia Kutir, Darjeeling, West Bengal and Taj Guras Kutir in Gangtok, Sikkim. These five projects will culminate to a total of 500 rooms.
As new data reveals the continuing impact of COVID-19, top speakers head to the Hyatt Regency Bangkok Sukhumvit from 1-2 December 2020 to tackle the industry's biggest issues at South East Asia Hotel Investors' Summit 2020
HAMA's (Hospitality Asset Managers Association) member survey of the region's hotel Ownership was just completed, and results confirm what many industry watchers have been whispering for months. Eric Levy, MD of Tourism Solutions International viewed the results of this survey and commented "In my 30 years in the region, we have had many crises, this one is different. We will see more forced sales of hotels, some by owners freeing up cash to reduce debt, some pressured by lenders and some perhaps even pushed into foreclosure/receivership by impatient lenders…something that lenders in Asian have largely been allergic to do in the past" The HAMA survey isolated Singapore properties and a second category - all others, mostly regional in two sets of questions.
Marriott International, Inc. (NASDAQ: MAR) today announced it has signed a milestone agreement with Asset World Corp Plc. (SET: AWC) to add four new landmark properties under three world-class brands across Bangkok and Pattaya, Thailand. The multi-property agreement features a Ritz-Carlton Reserve, Thailand's first JW Marriott Marquis hotel in Bangkok and two Autograph Collection hotels, set to debut the Autograph Collection brand in the country.
IHG® (InterContinental Hotels Group), one of the world's leading hotel companies, has signed a management agreement with K.W. Group to bring both the Holiday Inn and Holiday Inn Express brands to Phuket's Kata Beach.
CapitaLand's wholly owned lodging business unit, The Ascott Limited (Ascott) has secured more than 2,100 new units across 12 properties in China in the last three months. With these new units, Ascott has added a record high of more than 5,600 units across 26 properties, which represent a 60% year-on-year growth in units in China. Globally, Ascott has sealed new contracts for more than 3,700 units across 22 properties; about 60% of which are from China and the rest are in various countries including Austria and Indonesia.
Hilton recently completed the relocation of its Greater China South headquarters to Shenzhen, celebrating the move with a ceremony rich in traditional local elements. The relocation means that Hilton will maintain robust development in the post-pandemic era, reinforce its strategic presence in South China, and drive further expansion in the region, as it steadily advances towards its goal of 1,000 operating hotels in China by 2025.
Marriott International (Nasdaq: MAR) today announced it has signed an agreement with Japanese real estate developer, Sekisui House, to bring 11 new Fairfield by Marriott hotels to Japan. The agreement expands the collaboration with Sekisui House for the Michi-no-Eki project, adding on to the 15 Fairfield by Marriott hotels signed in 2018. All properties are anticipated to open by late 2022.