Indonesia's Artotel Group Fuels Expansion with Series B Financing
Indonesia’s Artotel Group has completed an undisclosed Series B round of financing, led by Indies Capital Partners with participation from Benson Capital.
News
Ascott Seals Strategic Partnership With Sun Group To Manage Vietnam's Largest Serviced Residence Integrated Development
CapitaLand Investment’s (CLI) wholly owned lodging business unit, The Ascott Limited (Ascott) has formed a strategic partnership with Sun Group, one of the biggest real estate developers in Vietnam, to manage Vietnam’s largest serviced residence integrated development. To date, Ascott has achieved a record of over 2,800 new units in Vietnam, exceeding its full year signings in the country in the previous years.
KSL Capital Partners Expands Australian Hotel Portfolio with Acquisition of Four Points by Sheraton Sydney, Central Park
KSL Capital Partners, LLC (KSL) announced today that an affiliate of KSL has acquired the Four Points by Sheraton Sydney, Central Park for an undisclosed amount. It will continue to be operated by Marriott International under the Four Points by Sheraton brand. While KSL has already invested in Ballie Lodges in Australia, this is KSL’s first investment in Sydney.
Radisson Hotel Group announces 100 operating hotels in India
Radisson Hotel Group is proud to achieve a historic milestone of 100 operating hotels in India with the opening of Radisson Bhopal. With more than 20 years in operation, Radisson Hotel Group is one of the leading international hotel groups in the country with seven distinct brands and a presence across over 60 locations encompassing key business, leisure and gateway centers. Boasting one of the most widely connected domestic network in India, the Group has been growing at an exceptional momentum with plans to open 14 new hotels in 2021 and more than 60 hotels in the next five years.
Low-Touch Hotels are Here to Stay
At the start of the pandemic, I implemented, when considered in retrospect, was an uncharacteristic experiment. For an entire day, I tried not to touch anything in a public space. After a few hours of what seemed like a long game of playground tag, I realised that it was impossible to shun much of our physical contact outside the home effectively.
By Ross Beardsell, JLL Executive Vice President, Advisory & Asset Management Australasia, JLL
Microtel by Wyndham to Open 20 New Hotels in Greater China by the End of 2022
Wyndham Hotels & Resorts, the world’s largest hotel franchising company and leading provider of hotel management services with approximately 9,000 hotels across nearly 95 countries, continues to expand its portfolio in China with 20 new Microtel by Wyndham hotels by the end of 2022, located in key cities and emerging destinations across the country.
JLL Hotels & Hospitality Group launches dedicated South Korea business
JLL Hotels & Hospitality Group today announced the launch of its dedicated South Korea advisory and investment services office in Seoul. By establishing an on-the-ground presence, JLL becomes the first international advisor to offer a dedicated hospitality real estate practice in South Korea, which currently stands as one of Asia Pacific’s most active hospitality markets.
China's Hotel Construction Pipeline Continues Upward Trend Through the Second Quarter
According to analysts at Lodging Econometrics (LE), the total China construction pipeline stands at 3,454 projects/661,043 rooms. At the end of the second quarter, the 2021 construction pipeline is up 2% by rooms year-over-year (YOY) and just below the region’s all-time high project count of 3,574 projects/647,704 rooms set in the second quarter of 2020. This is the fourth consecutive quarter China’s pipeline has increased.
Ascott Achieves Over 40% Y-O-Y Unit Growth Globally Boosted By Record Signings In Vietnam
CapitaLand’s wholly owned lodging business unit, The Ascott Limited (Ascott), has secured over 8,300 units across more than 30 properties in the first seven months of 2021, achieving over 40% year-on-year (y-o-y) growth compared to the same period in 2020. This builds on Ascott’s fourth consecutive year of record growth despite COVID-19, delivering approximately 20% compound annual growth rate (CAGR) since 2017. At S$20–25 million of fees to be earned for every 10,000 stabilised serviced residence units, fee income contribution is expected to increase as units in the pipeline turn operational. To date, Ascott has more than 128,000 units globally and is on track to achieve its target of 160,000 units by 2023. Ascott’s expansion will further consolidate its position as one of the leading international lodging owner-operators worldwide.
Marriott International Opens 70th Property in Japan
Marriott International today celebrates another milestone in Japan with the opening of the company’s 70th property in the country, Aloft Osaka Dojima. With this opening, Marriott International continues its solid growth in Japan as the hotel chain with the most brand offerings. The company has 70 properties across 18 brands in 21 prefectures including major cities such as Tokyo, Osaka and Kyoto, as well as other lesser known gems like Tochigi, Gifu and Wakayama. With a pipeline of over 30 additional hotels, including three hotels expected to open later this year, the portfolio is poised for continued growth in Japan.
IHG Hotels & Resorts Announces Triple Thailand Signing With Long-Standing Partner Asset World Corporation
Three Bangkok and Pattaya properties boost strategic agreement to jointly develop more than 1,200 rooms IHG Hotels & Resorts, one of the world’s leading hospitality companies, is proud to announce the signing of three hotels in Thailand with long-standing partner Asset World Corporation (AWC), the country’s leading integrated lifestyle real-estate group.
IHCL Announces The Signing Of A 775-Room Hotel At Bengaluru Airport
Indian Hotels Company (IHCL), South Asia’s largest hospitality company, announced the signing of an agreement with Bengaluru Airport City Limited (BACL) for a 775-room hotel at Kempegowda International Airport, Bengaluru (BLR Airport). The hotel will be a combination of a 450-room Vivanta and a 325-room Ginger hotel. This will be a management contract with BACL to operate another hotel at BLR Airport where IHCL already operates Taj Bangalore.
China's Hotel Construction Pipeline Ends Q1 2021 with 3,440 Projects/656,828 Rooms
According to the latest China Construction Pipeline Trend Report from Lodging Econometrics (LE), China's total hotel construction pipeline stands at 3,440 projects/656,828 rooms at the end of Q1‘21, down 3% by projects and up 2% by rooms year-over-year (YOY). While project counts may be down YOY, the total number of rooms in China’s Construction Pipeline reached a cyclical peak this quarter and is the highest it’s been in over twelve years.The lodging industry in China is steadily working towards recovery from the COVID-19 pandemic.
Absolute Hotel Services Expands Its Portfolio In The Indian Market With Eastin Residences & U Hotels And Resorts
Absolute Hotel Services India has announced the signing of Management Agreements with Valia Hospitality And Realty Private Limited for two of its brands and has added to its portfolio, Eastin Residences Suryamal and U Resort & Spa Suryamal. With this sign up Absolute Hotel Services will offer the district its first International hotel, resort brand.
Frasers Hospitality Forges Ahead With Expansion In China
Building on the successful launch of Fraser Residence Chengdu in mid-2020, Frasers Hospitality, a member of Frasers Property Group, is set to continue on its steady growth course in China in key Chinese gateway cities.
$700 Million Hotel Investment To Kick-Start Melbourne Tourism Revival
A new era of hotels opening in Melbourne will drive the revival of city tourism prior to the re-opening of international travel, predicts Simon McGrath, Chief Executive Officer Accor Pacific, Australia’s largest hotel operator.
Hilton Announces Multiple Luxury Signings In China
Leading global hospitality company Hilton (NYSE: HLT) and Shimao Group Holdings Ltd. (Shimao) today announced the signing of a landmark agreement to launch four luxury hotels in China: Waldorf Astoria Shenzhen, Conrad Shanghai, Conrad Wuhan and Conrad Zhuhai. When they open, the hotels will mark the entry of Hilton's iconic luxury brands, Waldorf Astoria and Conrad, in the four cities, while Conrad Shanghai takes the spotlight as the largest Conrad hotel in Asia to open, with more than 700 rooms.
IHG Hotels & Resorts Signs Biggest Japan Conversion Deal In More Than A Decade
IHG Hotels & Resorts and Iwate Hotel & Resort Co., Ltd. today announce the signing of an agreement to open or refurbish three hotels in Japan's Appi region and badge them under world-class IHG brands in December 2021.
Oakwood to Open Four Properties in China This Year
Oakwood has unveiled plans to open four new properties in China by December 2021, with more signings expected in the coming months.
Cross Hotels & Resorts Debuts In Japan With 7-Hotel Deal
In a landmark development for Asia's hospitality sector, Cross Hotels & Resorts is pleased to announce it has expanded its regional footprint with entry into the Japanese market in a master franchise agreement with AB Accommo Company Limited. The company anticipates a rewarding future initially with seven properties with a total of 844 keys within four years stretching across Okinawa in the far south to Hokkaido.