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.
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.
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 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.
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.
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.
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 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 has unveiled plans to open four new properties in China by December 2021, with more signings expected in the coming months.
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.
Centara Hotels & Resorts, Thailand's leading hotel operator, moves ahead with three more hotel re-openings in April 2021 in resort destinations across Thailand in response to increased domestic travel demands during the extended long holiday over Songkran.
Leading global hospitality company Hilton (NYSE: HLT) has announced its commitment to convert up to 2,000 rooms in 24 months in Thailand, with a focus on its full service brands Hilton Hotels & Resorts and DoubleTree by Hilton, as well as focused service brand Hilton Garden Inn.
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.