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HOTELSMag.com

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  • 3 min

India to lead Asia Pac in new hotel openings till 2026

🏨 India's hotel industry is rebounding with 610 new projects and 75,280 rooms as of Q2, representing 30% of the Asia Pacific pipeline. Vietnam, Indonesia, Thailand, and Japan follow, with India leading in new hotel openings through 2026. Hotel investment volumes in India reached $401 million in 2023, a four-fold increase from 2022. Greenfield projects gained 8,000 keys in 2023, while 2023 hotel signings and openings hit 25,176 and 12,647 keys, respectively, predominantly in Tier-2 cities. India's RevPAR grew by 15.8% in Q4 2023 versus 2022. IHG, Hilton, and Marriott are expanding significantly, with Marriott opening its 150th Indian hotel and planning 12 new hotels in 2023. Accor signed 11 hotels and aims to open nine more across various segments.
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  • 3 min

Middle East hotels headline, but discount Africa at your own peril

🏠 Saudi Arabia's Vision 2030 aims to diversify the economy away from fossil fuels, with Riyadh and Jeddah showing steady hotel performance year-to-June, Riyadh up by 3%. In September 2021, the Middle East was first to reach pre-COVID hotel performance levels. Africa experienced a 200% GOP growth in May over January 2020 but saw dips in June. Egypt's payroll cost stood at 13.7% with rooms division profitability at 88%, while South Africa managed a 22% payroll cost. Sub-Saharan Africa is driving growth with low energy prices, labor costs, and strong business travel demand.
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  • 3 min

Ascott announces brand refresh of The Unlimited Collection

🏡 The Ascott Ltd, owned by CapitaLand Investment, is rebranding The Unlimited Collection to enhance its upscale hotels' global position. Launched in 2020 in Singapore, the Collection has expanded to 11 properties across Asia, Europe, and the Middle East, with over 900 units operational and planned. In 2023, eight new hotels joined, including the first resort, the 100-room Anmira Resort & Spa Hoi An in Vietnam. By 2025, over 200 units across three hotels are expected in Malaysia and Indonesia. Two U.K. properties are slated: Mount Royal Hotel Edinburgh and The Grand Hotel Leicester, opening by Q2 2025. The 136-room Temple Bar Hotel Dublin will rebrand by year-end, and the 90-room Hotel Marrakech will open in 2026. Ascott's strategy focuses on local culture for an authentic guest experience.
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  • 2 min

Dusit adds hotel, luxury residences to Bangkok portfolio

🏨 Dusit International will manage two new properties in Bangkok, opening in 2026: Dusit Suites Kingsquare, Bangkok with 60 hotel rooms and 49 serviced suites, and KingsQuare Residence, a 52-story building with 222 residential units. The hotel will feature amenities such as a restaurant, pool, and co-working space, while the residences will offer a pool, basketball court, and private dining. Dusit's global portfolio includes 301 properties in 18 countries, with more than 50 properties in the pipeline.
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  • 2 min

STR, TE maintain U.S. hotel forecast

🏨 STR and Tourism Economics adjusted their 2024-25 U.S. hotel forecast: 2024 RevPAR remains at +2% YOY, ADR down 0.1 percentage points, occupancy up 0.2 points. 2025 occupancy projections increased by 0.2 points, ADR and RevPAR stable at +2% and +2.6%. Midscale and economy hotels affected by fewer low-income travelers, high-income travel persists. International demand pressured by strong dollar, European cost-of-living crisis, Asia Pacific's air travel recovery. Slower growth expected in 2025, yet improved international, business, and group travel forecasted. Annual GOP and EBITDA margins to improve YOY, labor costs to marginally decline, with upper midscale chains forecasting $168 less than luxury in labor costs for 2025. Prior forecast had decreased ADR by 1 point and RevPAR by 2.1 points for 2024; 2025 ADR and RevPAR projections had dipped 0.8 and 0.9 points, respectively.
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  • 2 min

LatAm hotel construction pipeline to see stable growth till 2026

🏨 Latin America's hotel construction pipeline shows an 11% YOY increase in projects and a 10% increase in rooms, totaling 612 projects (97,597 rooms). Under construction: 253 projects (44,319 rooms), up 11% in projects and 15% in rooms YOY. Next 12 months: 187 projects (29,476 rooms), a YOY increase of 18% in projects and 17% in rooms. Early planning: 172 projects (23,802 rooms), up 3% YOY. Key segments: upscale (133 projects/18,807 rooms), upper upscale (101 projects/20,234 rooms), luxury (96 projects/17,154 rooms). Renovations and conversions at an all-time high: 186 projects (29,500 rooms), 30% more projects YOY. Mexico leads with 226 projects (33,599 rooms), followed by Brazil, the Dominican Republic, and Colombia. Top cities: Mexico City, Georgetown, Sao Paulo, Lima, and Riviera Maya. New announcements in Q2: 62 projects (8,740 rooms). 2023 expected openings: 100 hotels (17,555 rooms), with 40 already opened and 60 more planned. 2025 projected openings: 111 hotels (18,816 rooms), and in 2026, 131 hotels (18,293 rooms).
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  • 6 min

Blackstone-controlled Great Wolf Resorts has been a howling success. Its CEO is now hunting out new opportunities.

🎰 Blackstone acquired a 65% controlling interest in Great Wolf Resorts in 2019, which then had 18 resorts. As of 2022, with over $2 billion invested, the company operates 20 resorts with three in the pipeline. John Murphy, CEO since 2022, emphasizes an average daily rate of $300, with a similar on-site spend. In 2023, Great Wolf opened its largest lodge in Perryville, Md., boasting 700 suites and a 128,000-square-foot water park. Additional lodges in Naples, Fla., and Webster, Texas, are set to introduce a new design. Furthermore, a $300-million lodge is planned to open in Connecticut by mid-2024. Occupancy levels average around 80%, with direct bookings making up 90% of business. They've recently partnered with Hilton Grand Vacations, and Great Wolf Lodge Grand Mound and Pocono Mountains have undergone significant renovations totaling $165 million.
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  • 3 min

Extended-stay, conversion projects drive Choice Hotels’ Q2 growth

🏨 Choice Hotels President and CEO Pat Pacious predicts domestic RevPAR to surpass 2019 levels by 10% in H2 2024. Q2 showed RevPAR improvement, yet behind industry pace. Domestic unit growth at 1% YOY; pipeline up 11%. Q2 revenues hit $435.2 million (+2% from 2023), with EBITDA at $161.7 million (+6%). Franchise agreements increased 8% YOY, global pipeline at 115,000 rooms (+22%), and international room count up by 1.6%. Everhome Suites pipeline includes 65 domestic projects, 20 under construction. Conversions drive growth with 80% of openings YTD from conversions, and mid-scale conversion agreements up 31% YTD.
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  • 2 min

Oracle founder Larry Ellison buys Eau Palm Beach Resort & Spa

🏨 Larry Ellison, founder of Oracle, acquired Eau Palm Beach Resort & Spa in Manalapan, Fla., part of the Preferred Hotels & Resorts Legend Collection. The London-based Lewis Trust Group bought the hotel in 2003 for $67.5 million when it was a Ritz-Carlton and rebranded it to Eau Palm Beach in 2013. The property has received Forbes Five-Star recognition for nine consecutive years. No sale price was disclosed for Ellison’s purchase, and the hotel was originally established as La Coquille Club in the 1950s. Ellison plans to invest in further upgrades.
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