Australia’s hotel market is showing ongoing growth with performance metrics benefiting from strong demand fundamentals. Growth in international arrivals, coupled with resilient domestic demand and strategic infrastructure investments, is setting the stage for a positive 2025 outlook.
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
The World Travel & Tourism Council (WTTC) today reveals that Singapore is on track to smash its all-time international arrivals record this year, outpacing other major Southeast Asian destinations such as Thailand and the Philippines.
Brisbane’s hotel industry posted its highest January average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading global provider of commercial real estate data, analytics and news.
Sydney’s hotel industry posted record high average daily rate and revenue per available room on New Year’s Eve, according to December preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
The booming tourism sectors of Phuket and Bali are both at risk of faltering unless infrastructure issues are addressed, according to the latest market report from Global Asset Solutions.
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
Read the latest edition of the HVS ANAROCK monthly industry update, MONITOR (Monthly Overview of National Industry Trends and Hospitality Report), for the key trends in the Indian hospitality industry.
As Sydney prepares to host Coldplay’s highly anticipated Music of the Spheres Tour concerts at Accor Stadium next week, hotels across Greater Sydney are experiencing a surge in bookings, reports Accor - Australia’s largest hotel operator.
Events pushed Brisbane hotel average daily rate (ADR) and revenue per available room (RevPAR) to all-time highs for September, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Hyatt Hotels Corporation (NYSE: H) announced today that affiliates of Hyatt and China Resources Land (CR Land, stock code: 01109.HK) have entered a joint venture and signed a strategic collaboration agreement to expand Hyatt’s brand presence across China. This is part of Hyatt’s asset-light expansion of its brands in Hyatt’s second largest market. Under the initial plans, the joint venture, Yuen Kai Holdings Limited, will develop and manage hotels including six existing Mumian hotels in Beijing, Shenzhen, Chengdu, Hangzhou, and Rizhao as well as two new Mumian hotels in Shaoxing and Shanghai that are set to open in the first quarter of 2025. These properties are expected to become part of The Unbound Collection by Hyatt and JdV by Hyatt brands. Additionally, Hyatt and CR Land announced a strategic agreement for the development of more Hyatt-branded hotels and have signed agreements for key projects such as Park Hyatt Xi’an and Andaz Dongguan.
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
In breaking news, TFE Hotels has partnered with New Zealand’s leading accommodation provider, Heritage Hotels, in a multi-property management agreement that will see five hotels refurbished in the next few years and send a positive signal to the local accommodation sector amid a resurgent international tourism market.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Accor, Australia’s largest hotel operator, has signed partnership renewal agreements for more than 40 hotels, comprising 5,500 keys, across Australia, underscoring the Group’s strong partnerships with some of the country’s most influential hotel owners.
The Singapore Grand Prix 2024 is set to take place on September 20-22, bringing the excitement of Formula 1 racing to the Lion City. Bookings for the Grand Prix began as early as December 2023, significantly impacting hotel demand. This early surge in reservations has led to an unprecedented increase in hotel occupancy rates, with many premium and centrally located hotels reporting near-full bookings months in advance. Consequently, this has led to a marked rise in room rates and a bustling hospitality sector gearing up to cater to the influx of international visitors.
The World Travel & Tourism Council’s (WTTC) 2024 Economic Impact Research (EIR) has today revealed that Vietnam’s Travel & Tourism sector is forecast to inject a record đ770.8TN into the national economy this year.
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.