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.
Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR.
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.
Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR.
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.
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’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR.
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.
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.
Western Australia’s largest hotel group, Accor, is experiencing sustained recovery in its Western Australia hotel, apartments and resorts network.
South Korea is the fastest growing aesthetics market in Asia-Pacific (APAC) and is expected to retain its position in the future augmented by continuous innovation, growing demand for beauty, and increased spending on aesthetic enhancement, says GlobalData, a leading data, and analytics company.
The travel and tourism sector is an important income generator for Sri Lanka. However, the ongoing economic crisis coupled with Ukraine–Russia war and China’s zero-COVID policy has put the sector in jeopardy. Against this backdrop, the country will face an uphill task in restoring a once thriving sector, says GlobalData, a leading data and analytics company.
Sydney’s hotel industry saw lower performance from the month prior, but comparisons against 2019 levels held steady, according to preliminary July 2022 data from STR.
India leads Asia-Pacific in its intent to travel in the second half of 2022 with 50% Indians expressing the desire to spend more money on booking a vacation in the world’s largest survey of travel intentions from Travel Lifestyle Network (TLN) in a post-pandemic setting. While international travel still remains a point of contention among many, with only 15% respondents willing to travel abroad, 29% people are planning to vacation in India . India emerged as the global leader in domestic travel with 24% people undertaking at least one vacation every month, for which the global average stands at 11%. The country is also way-ahead of its global counterparts in business travel with almost 18% Indians travelling for work within the country once a month.
Melbourne’s hotel industry was back on the recovery track with higher performance from the prior month, according to preliminary June 2022 data from STR.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in China is expected to create more than 30 million jobs over the next decade, representing a quarter of all new jobs globally.
The World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector in Japan will provide a significant boost to the nation’s economic recovery next year, with its GDP contribution set to reach near pre-pandemic levels.
The World Travel & Tourism Council (WTTC) has revealed South Korea’s Travel & Tourism is expected to create nearly half a million jobs over the next decade.
The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals Indonesia’s Travel & Tourism sector is expected to create more than five million new jobs over the next decade.
Sydney’s hotel industry reported steady occupancy, while room rates fell slightly from the prior month, according to preliminary May 2022 data from STR.