Mr. Puneet Chhatwal, MD & CEO, Indian Hotels Company (IHCL) and Mr Vinayak Deshpande, MD - Tata Projects with the all-woman project execution team at Ginger Hotel site in Santacruz, Mumbai.
Professor Peng Liu and Terence Loh ’97, MBA ’06 challenge students to solve a real-world business problem in their case study, “Real Estate: Private Equity Investment in Shanghai.” This research was published jointly by the Center for Hospitality Research and the Center for Real Estate and Finance.
Gurgaon, - Fortune Hotels, a wholly-owned subsidiary of ITC Ltd announced the signing of two individual operating agreements for hotels in Katra (Jammu & Kashmir) and Amritsar (Punjab), thereby strengthening its growth strategy in key pilgrim locations and adding over 100 new rooms to its existing inventory.
Swiss-Belhotel International, one of the world’s fastest-growing hotel management groups, is set to bring four high-end trademarks from its 16-brand portfolio to the Vietnamese market, including its upscale Swiss-Belresidences branded residences offering, Grand Swiss-Belhotel, Grand Swiss-Belresort, Swiss-Belhotel and Swiss-Belresort.
Swiss Professionalism with Asian Passion are the central pillars of Swiss-Belhotel International ’s brand vision and hospitality. With an extraordinary portfolio of 16 brands, the Group’s quintessentially Swiss qualities and values, delivered with Asian passion, are inspired to foster unique and immersive experiences.
Thailand’s pristine beaches and resorts recently reopened to tourists for the first time since the onset of the pandemic, spurring a shot of optimism for the hotel sector in the country and beyond.
Ginger signs a new hotel in Dehradun and Coimbatore.
In the recently released China Construction Pipeline Trend Report by Lodging Econometrics (LE), at the end of the third quarter of 2021, China’s total construction pipeline stands at 3,571 projects/681,095 rooms, up 5% by projects and 7% by rooms year-over-year (YOY). Rooms in the country’s hotel construction pipeline are at an all-time high, and the pipeline is a mere three projects shy of the cyclical high of 3,574 projects set in the second quarter of 2020.
Accor, one of the leading international hotel operators in Japan, is expanding its presence in the country with the signing of two ibis Styles hotels in Tokyo and Kyoto. With this expansion, the hospitality group will operate 21 hotels and resorts across eight cities in Japan by the beginning of 2022.
Indonesia’s Artotel Group has completed an undisclosed Series B round of financing, led by Indies Capital Partners with participation from Benson Capital.
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, 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 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.
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.
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 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.
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.
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 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.
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.