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 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.
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.
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.
Urban Rest, a leading provider of flexible alternative accommodations serving the corporate market, proudly announces its acquisition of The Urban Butler, effective 1 May 2024. This strategic move not only solidifies Urban Rest's position as a key player in the alternative accommodations sector but also marks a significant step towards its continued global expansion.
The Indian Hotels Company Limited (IHCL), India’s largest hospitality company, reported its consolidated financials for the fourth quarter and full year ending March 31st, 2024.
A number of large-scale events have boosted hotel performance in Adelaide, with further jumps expected for upcoming events, according to recent data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Marriott International and HMI Hotel Group today announced a signed agreement to rebrand seven existing HMI properties in five major cities across Japan to Marriott Hotels and Courtyard by Marriott. This signing will bring the rich legacy and guest-focused experiences of both Marriott brands to the increasingly sophisticated consumers in Japan and is part of HMI’s strategic repositioning, aimed at revitalizing and realigning these properties with the latest trends in global hospitality.
The host of six Taylor Swift concerts, Singapore’s hotel industry posted its highest March average daily rate (ADR) and revenue per available room (RevPAR) on record, according to preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
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.
In Chinese culture, the dragon represents strength and good luck, which is fitting as Lunar New Year brought performance growth to China hotels once more during the important holiday period.
Boosted by Taylor Swift’s Eras Tour, the hotel industries in both Sydney and Melbourne posted their highest average daily rate (ADR) for any month on record, according to February preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.