News

January 11, 2023

STR: Melbourne hotels reached record-high room rates in December

Melbourne’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to preliminary December 2022 data from STR.

Melbourne, Australia

January 9, 2023

Mumbai’s Hotel Market Revival

The hotel industry in Mumbai, India's financial hub, is, at last, experiencing a sustained recovery, fuelled primarily by a resurgence in corporate travel and large-ticket conferences and events. For instance, the city's occupancy surpassed 80% for the first time since the pandemic thanks to the IPL and some conferences that were held in the city in April and May 2022, and the city hasn’t looked back since.

Mumbai, India

December 30, 2022

HVS Monday Musings: Indian Hospitality Sector – 2022 in Review

The year 2022 painted a mixed picture for the global hospitality sector. It was the year that travel finally made a comeback after a majority of countries lifted their travel restrictions and most people resumed their pre-pandemic way of life. As a result, travel demand increased significantly across the globe with people trying to make up for the lost time. However, inflation, the Russia-Ukraine war, and the “great resignation” negatively impacted the hospitality business in several countries. The Indian hospitality sector also witnessed similar trends during the year but was more resilient than its global counterparts.

December 19, 2022

Centara Extends Hotel Management Agreement with both Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya

Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of hotel management agreement extensions by Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, Mr. Rony Fineman, owner of Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya, and Mr. Lon Ballard, owner of Centara Pattaya Hotel, to continue managing these renowned properties in one of Thailand’s most popular tourist destinations for a period of five more years.

Centara

Pattaya, Thailand

December 16, 2022

STR: Adelaide hotel bookings jump for sport-heavy April

The recent announcement that Adelaide will host the Australian Football League’s (AFL) Gather Round and LIV Golf in April 2023 has resulted in a boost in the market’s hotel occupancy on the books, according to STR’s Forward STAR data.

Adelaide, Australia

December 13, 2022

Mumbai’s Hotel Market Revival

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Mumbai, India

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Why Hospitality Net Leads B2B in Hospitality

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Hospitality Net

December 12, 2022

STR: Sydney hotels recorded highest performance of pandemic-era in November

Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR.

Sydney , Australia

November 22, 2022

Centara Extends Hotel Management Agreement with Centara Anda Dhevi Resort & Spa Krabi

Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new contract agreement with Dr. Pornsak Thantapakul, CEO and Managing Director of Anda Beach Resort Co. Ltd. and owner of Centara Anda Dhevi Resort & Spa Krabi, to continue managing this hugely popular property for a period of 10 more years.

Centara

Krabi, Thailand

November 15, 2022

STR: Melbourne hotels post best performance of the pandemic-era

Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR.

Melbourne, Australia

November 15, 2022

Swiss-Belhotel International Indonesia and Zest Hotel International Indonesia Shareholder Change

On 14 th November, 2022, Indies Capital Partners (“Indies Capital”), a leading alternative asset manager in Southeast Asia, announced the acquisition of a 60% stake in PT Swiss- Belhotel International Indonesia and PT Zest Hotels International Indonesia (together, the “Companies”) from Ciputra Group Indonesia.

Swiss-Belhotel

Indonesia

November 14, 2022

Japan, the land of the Rising Sun, or is it?

To say that there is a lot going on within the hospitality industry in The Asia Pacific Region is a dramatic understatement.

By Tareq Bagaeen, Senior Consultant, HotStats

Japan

Why Hospitality Net Leads B2B in Hospitality

November 9, 2022

Hotels in mainland China

The hotel market in mainland China has been influenced by a number of factors over the last couple of years, not least by the COVID-19 epidemic and subsequent lockdowns and travel restrictions, but what are the opportunities for future growth? Before we answer this, let’s look at the current market.

Cushman & Wakefield

China

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Hospitality Net

October 12, 2022

Sydney recorded best hotel performance of the pandemic-era in September

Sydney’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR.

Sydney , Australia

October 11, 2022

India update: Societal change provides hoteliers with plenty of optimism and opportunity

The world regions that have experienced the most significant hotel performance recovery to date are now faced with similar challenges. Most of those challenges stem from economic uncertainty. In India, there are certainly challenges, but there are also unique factors driving optimism and opportunity. Specifically, overall societal change is presenting India’s travel and tourism industry with temptations not seen for some time.

October 3, 2022

HVS Monday Musings: Reinventing City Tourism in India

Indian metropolises, such as Delhi, Mumbai, and Bengaluru, which have long served as the hospitality hubs of the country, were particularly hard hit by the pandemic and took longer to bounce back compared to leisure destinations. The main reason for this was that, even though these cities draw many tourists each year, over time most of the influx has been made up of business travelers, a group that was severely affected by the pandemic.

September 14, 2022

STR: Melbourne’s hotel performance fell in August

Melbourne’s hotel performance fell from the previous month, but room rates remained well above the pre-pandemic comparable, according to preliminary August 2022 data from STR.

Melbourne, Australia

September 13, 2022

WA hotel performance road to recovery; Accor calls for investment in events to fast-track tourism revival

Western Australia’s largest hotel group, Accor, is experiencing sustained recovery in its Western Australia hotel, apartments and resorts network.

Accor

Australia

September 12, 2022

HVS Monday Musings: Indian Hotel Sector – Riding the Next Growth Cycle

After months of low occupancy and falling average rates due to the pandemic, the Indian hotel industry is finally witnessing renewed growth. The upcycle is clearly underway and is expected to last for the next 4-5 years, as demand is spiraling while supply growth is relatively low, which is a significant difference from the previous upcycles in the industry. This augurs well for the industry because, as shown in the graph below, hotel performance in India is highly sensitive to supply and demand dynamics.

September 5, 2022

HVS Monday Musings: The Hand of God in the Post-Pandemic Revival of Indian Tourism

Religious or faith-based tourism to holy sites or places of worship is one of the oldest forms of travel. As per the UNWTO, 300-400 million tourists traveled for religious purposes every year globally before the pandemic. Religious tourism has been a significant contributor to the tourism industry in India, the land of diverse religious beliefs and practices.

By Dipti Mohan and Abhishek Rajadhyaksha