For our founder, Yoshitaka Nojiri, hotels have always held a certain magic. From family celebrations to memorable meals, they were places where ordinary moments became extraordinary—both familiar and uniquely memorable.
From tech-driven budget brand partnerships to midscale acquisitions, strategic deals are fast emerging as a defining trend in India’s hospitality sector. As global and domestic brands double down on the Indian opportunity, many are moving beyond organic growth to accelerate scale, reach, and distribution networks.
The deal activity in the global travel and tourism industry has been improving, with 573 deals (including M&A, private equity, and venture financing) being announced during the first half of 2022, up 3.1% over the same period in 2021. However, deal activity in India continues to be lackluster, as the industry has also not yet witnessed a flurry of distressed transactions in the fallout of COVID. Nonetheless, there are several hotel assets for sale in the market and HVS currently has over a dozen buy-side, sell-side, and capital restructuring mandates.
With demand recovering faster than expected in 2021, hotel companies put the COVID-blues behind them and pressed the accelerator on their expansion plans, resulting in a year-over-year increase of over 24% in brand signings by keys. During the year, 135 new hotels with 12,359 rooms entered the branded hotel market, while 58 hotels with 3,108 rooms were rebranded.
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.
As shown in the Planning Department's site plan, Site 3 will enjoy expansive harbour views from its northern section. The Hong Kong Observation Wheel located at piers 9 and 10 is a temporary structure and will not impede the site. One major drawback from a developer's point of view is the building height restriction of 50 meters. Somewhat unusual for Hong Kong, the tender process is conducted in a two-envelope scheme with equal weighting between design proposals and price. A comprehensive list, by Hong Kong standards, of requirements is stipulated in the 33-page planning brief.
It may sometimes seem like modern cities are made entirely out of concrete. It's a useful and versatile material and there's a reason why it's used by so many commercial properties. However, it isn't the only option out there for constructing large buildings.
Starting a business may seem like something so far-fetched at the moment the idea strikes, that it may sound almost impossible. However, every successful company, from your local successful vendor to Apple has a humble story about a spark that ignited a franchise behind it. Owning a construction business is no exception; it takes guts and a note of fearlessness to get things running, but also a ton of work - from dealing with promotion and marketing, to figuring out how to cover the costs of your new startup. Planning ahead, commitment, passion and focus are the pillars of a successful construction business. Commit and start planning ahead right now!
I was recently interviewed by GlobeSt.com to discuss Chinese investment in the United States, including why the US is an attractive market for Chinese dollars, how it helps the US economy, and what it means for the Chinese market. Some selected excerpts from our conversation are below.
HVS is pleased to share the analysis and insights of the 2016 Hotel Development Cost Survey – India. The development cost is an important aspect of a hotel project that determines its viability. HVS, over the years, has helped investors estimate the overall cost of developing a hospitality project as part of the multiple feasibility studies we have performed for varied asset types across all positioning. This survey endeavours to enhance the knowledge and understanding of industry stakeholders on the subject based on actual development costs of recently opened hotels in India.
The hotel industry in China has witnessed hotel development activity on an unprecedented scale and at an extremely vigorous rate. Supply surges were first seen in coastal cities and key commercial centres and consisted mostly of international hotel brands that served the needs of inbound international travellers. In other parts of the country, supply continued to be dominated by domestic brands that catered largely to government demand. Over time, secondary and tertiary cities were caught up in the real estate boom and also witnessed a rapid increase in internationally branded hotels.
With the ALIS conference in full swing last week, it is fair to say that the hotel and investment community has officially launched into 2016. ALIS is a foretelling summit which sets the tone for events around the globe to follow - whether it is the International Hotel Investment Forum in Berlin (IHIF), the Hotel Investment Conference Asia-Pacific in Hong Kong (HICAP), the Africa Hotel Investment Forum in Toga or HotelsWorld in Sydney.
While declines in inbound tourism in mainland China abated, mainland Chinese outbound tourism to Hong Kong and Macau slowed. Hong Kong received 13.8 million visitors in the second quarter of 2014, reflecting a 9.6% yearon-year (YOY) growth from the same period in 2013. The single-digit increase in visitor arrivals was mainly attributable to the lacklustre growth in the dominant mainland Chinese market.
For decades, China was referred to as the "sleeping giant." This reference is to the great potential impact of the country, its vast population, and its economy, but also to the fact that this potential was largely unrealized for hundreds of years. Well, the sleeping giant is awake! And the world financial press if now full of analysts following China and the international ramifications of its every action on the world economy.
Our article quantifies the impact of the recent infrastructure listing announcement on a typical hotel investment and the benefits to both investors and banks. The inclusion of hotels with a development cost of over `200 crores and convention centres with a development cost of over `300 crores to the infrastructure lending list early October comes as a welcome step for an industry that has always been saddled with high interest rates, short repayment terms and consequently high debt service payments, all of which have been further exacerbated by the economic downturn. According to the Gazette issued by the Finance Ministry, the development cost thresholds include interest during construction but exclude land cost and lease charges.
Rich in natural resources and experiencing an era of dynamic economic progress, Indonesia is a market not to be missed. Tourism arrival is expected to increase from the current 250 million in 2012 to an estimated 400 million by 2023 based on a 5% compound annual growth rate. An additional 100,000 guestrooms will be required, translating to an estimated 700 to 800 hotels to be built in the next decade, creating tremendous opportunities for developers, investors, financiers, hotel management groups, airlines companies, travel agencies, consultancies and other stakeholders.
Interest among Chinese investors in U.S. hotels has grown substantially over the past two years for reasons economic, social, and political in nature. How is this trend coinciding with the U.S. lodging industry's recovery from the downturn? A few weeks back I wrote an article examining the growing trend of Chinese tourism to the U.S. Another trend that deserves attention is the flourishing interest among Chinese investors in U.S. hotels. Sales of U.S. hotels to Chinese investors based in either the U.S. or China have soared since 2009.
Marriott International’s strategy for India includes a heavy emphasis on the Courtyard by Marriott brand, according to the company. Courtyard, Marriott’s “upper moderate” product, is critical to Marriott’s growth in India, said Rajeev Menon, Marriott’s area VP for India, Pakistan, Maldives & Malaysia. Four Courtyards recently opened in India: The 164-room Courtyard by Marriott Hyderabad; the like-sized Courtyard by Marriott Ahmedabad in Gujarat; and the 199-room Courtyard by Marriott Gurgaon each opened in November. The Gurgaon property is Marriott’s first foray into the National Capital Region of Delhi.
Five years ago, Project Manager (Patrick Chen) approached Pertlink to be IT Consultants for a hotel he was building in Shanghai, its projected launch was 2007. After an interminable long wait, this urban resort nestled between Jing An Park and the elevated Yan An highway in bustling Shanghai threw open its doors to the public just a few weeks ago. And first impression is…the delayed launch was well worth it! What was initially designed as an "Exclusive" property with club-like access to its F&B outlets solely by residents was altered to welcome non-residents as well. Some of that feel still filters through with the walled garden environment surrounding the hotel and Club floors between levels 20 and 26 that suggest you are part of a select crowd.