Heading Back to Indian Cities Say World Travel & Tourism Council
The World Travel & Tourism Council (WTTC) has today revealed positive signs of recovery for the Indian Travel & Tourism sector with travellers heading back to its major cities.
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Centara Extends Hotel Management Agreement for Centara Chaan Talay Resort & Villas Trat
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new Hotel Management Agreement with Khun Kanoknat Adhyanasakul, the owners of Centara Chaan Talay Resort & Villas Trat, to continue managing this successful property for a period of 10 more years.
Tourists Heading Back to Australia Say World Travel & Tourism Council
The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Australian Travel & Tourism sector with major cities welcoming travellers once again.
Indian Hotel Sector – 2022 Performance Review
The strong recovery in 2022 brought much relief to a sector devastated by COVID-19. The quick retraction of onerous COVID-19 policies, released the much pent-up demand in the market, making it the single biggest reason for a strong recovery. While occupancy remained slightly 5-7 percentage points (pp) lower than the full year 2019, in large part due to the much lower-than-expected Q1 2022, ARRs for 2022 recovered fully, crossing 2019 levels by almost 1-3%, in large part due to strong ARRs in Q4 2022. Similar to 2021, domestic travel was responsible for the strong recovery in demand. Buoyed by segments such as weddings and events, the hospitality sector continued its unabated growth in ARRs to recover in part the losses of the previous two years. Corporate travel recovered as well, contributing to the overall recovery of the sector.
By Dipti Mohan and Akash Datta
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.
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.
By Mandeep Lamba and Dipti Mohan
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.
By Mandeep Lamba and Dipti Mohan
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.
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.
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.
By Mandeep Lamba and Dipti Mohan
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.
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.
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.
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.
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
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.
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.
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.
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.
By Mandeep Lamba and Dipti Mohan
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.