The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) reveals a significant recovery of India’s Travel & Tourism sector, with domestic tourism playing a pivotal role.
In a landmark move that signals a new era for boutique luxury hospitality, Small Luxury Hotels of the World (SLH) proudly announces its expansion into the vibrant Indian subcontinent through a strategic partnership with The MRS Group of Hotels. This collaboration signifies the entrance of an independent hotel group in India, renowned for its bespoke collection of boutique hotels, into the distinguished ranks of SLH, elevating their status as pioneers of contemporary Indian hospitality on the international scene.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) forecasts a record-breaking year for Travel & Tourism in the Philippines, with its economic contribution, job numbers, and visitor spending all set to reach new highs.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) forecasts a record-breaking year for Japan’s Travel & Tourism sector, with its economic contribution, job numbers, and visitor spending, all set to reach historic levels.
The Indian Hotels Company Limited (IHCL) has recently been making significant strides in the global hospitality industry. With Brand Finance ranking Taj as the world's strongest hotel brand for the third time recently, and the remarkable growth in the company’s market capitalization, IHCL's ascent into the Top 5 global Hotel Management companies (by market cap) is a testament to its growing global presence and influence. This recognition not only highlights IHCL's success but also places the Indian hospitality market in the global spotlight in line with the country’s ascent among the top 5 global economies.
The ‘Love Is In The Air’ Vivid Drone Show and the 71st Sydney Film Festival lifted June hotel performance in the market, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) projects a record breaking year for Indonesia’s Travel & Tourism sector in 2024, with jobs in the sector set to exceed 2019 levels to reach more than 12.5mn.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) projects a significant year of growth for Malaysia's Travel & Tourism sector, with its economic contribution, employment, and domestic visitor spending expected to break all records this year.
The World Travel & Tourism Council (WTTC) 2024 Economic Impact Research (EIR) predicts a remarkable year for Travel & Tourism in South Korea, with significant growth in its economic contribution, employment, and visitor spending.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) forecasts Travel & Tourism will contribute more to Australia’s economy in 2024 than any previous year on record.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Tokyo’s hotel industry reported record-high average daily rate (ADR) and revenue per available room (RevPAR) in May, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The travel industry has been waiting. Waiting for Chinese travelers to return to the global tourism stage in a significant way. While there was some recovery in 2023, outbound travel from China remained largely in the role of supporting actor rather than the main character. Now that we’re well into 2024, that is changing.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has revealed today that China’s Travel & Tourism sector is set to inject a record-breaking ¥12.62TN into the national economy by the end of this year.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
According to estimates from the Data Center of the Ministry of Culture and Tourism, the five-day May Day period (1-5 May 2024) brought 295 million domestic tourism trips – a 28.2% jump against the same period in 2019 and a 7.6% increase year over year. However, per capita tourism spending only recovered to 88.5% of the 2019 level.
CBRE Asia Pacific Hotels & Hospitality’s Market Update series explores key trends in the region across indicators such as tourism arrivals, hotels performance, supply and investment activity, as well as notable market developments that are relevant to the hotel sector.
Japan’s growth in hotel revenue per available room (RevPAR) has remained extremely impressive over the past 15 months – a function of a later opening post-pandemic, above-average inflation, and an influx of international demand. That’s largely reflected in average-daily-rate (ADR) growth, although through much of 2023, the first and third points helped drive double-digit occupancy increases as well.
Sydney's hotel industry recorded year-over-year increases in each of the three key performance metrics, according to April preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
KKR, a leading global investment firm, and Marriott International, Inc. (Nasdaq: MAR) today announced the launch of each company’s foray into the midscale hospitality space in Japan, which follows KKR’s completion of the acquisition of Unizo Hotel Company, Limited and a portfolio of 14 hotels in Japan from Unizo Holdings. The 14 hotels will be converted to Four Points Express by Sheraton. This marks Marriott’s entry into the affordable midscale segment in Japan and the brand’s debut in Asia Pacific following its global launch in this space in 2023.