Minor Hotels’ Post

Centara Hotels and resorts reported their Q2 results Centara own 16 hotels with 4,292 keys in Thailand They also manage a further 25 hotels with 3,846 keys in Thailand They own three hotels with 859 keys overseas and manage six overseas properties with 1,615 keys Occupancy in the Bangkok owned portfolio was 72% in Q2 with an ADR of 3,781 baht about 30% higher than pre-COVID Q2 2019 levels RevPAR was 2,793 baht Upcountry occupancy was 62% with an ADR of 3,957 baht and RevPAR of 2,462 baht . ADR was about 14 % higher than Q2 2019 Overseas Maldives occupancy was down “ due to India , a key market shifting demand while Chinese recovery is weaker than expected “ Full presentation at the link below: https://lnkd.in/gSHXr6j6

The local hospitality industry marked the beginning of the year with the completion of the RM145 million sale of Holiday Villa Beach Resort & Spa Langkawi by AmanahRaya-Kenedix REIT Manager. Acquired for RM55 million in 2007, the 4-star beach resort was successfully sold to Plenitude Gateway Sdn Bhd, aligning with AmanahRaya REIT's objectives to reduce borrowings, optimize returns, and improve the yield of its asset portfolio. Additionally, ONYX Hospitality Group's expansion in Malaysia includes three new properties, marking a total of seven in its Malaysian portfolio and establishing the country as the first outside Thailand to host all three ONYX brands—Amari, OZO, and Shama. Meanwhile, in response to Sabah's booming tourism, Zerin Properties Group CEO Previndran Singhe emphasizes the pressing need for upscale accommodations to meet demand, with the state government actively attracting hoteliers and initiating various projects, including heritage building conversions, to boost tourism infrastructure. The tourism sector is expected to flourish with increased flights and strengthened ties between Malaysia and China, following the Ministry of Tourism, Arts and Culture's collaborations with major Chinese online travel platforms. In another development, Langkawi anticipates enhanced air connectivity in 2024, with new services from Flydubai and AirAsia Indonesian, expanded services by Malaysia Airlines, and charter flight series with Poland's ITAKA, reflecting the island's growing appeal as a tourist destination with increased international and domestic accessibility. In the international segment, The Ascott Limited's lodging arm, Ascott, expands its lyf brand with the signing of eight new properties, totaling over 30 operational or upcoming lyf properties globally. The new additions span resort and city destinations like Bali, Penang, Sydney, and Frankfurt. For more details on this week’s hospitality updates do view the video below https://lnkd.in/gCw74vdz #zerinproperties #corporaterealestate #corporatetransactions #estateagency #hotelforsale #hotelinvestment #corenetglobal #apac #southeastasia #hotelinvestment #hotelexpansion #motac #ttourismmalaysia #tourismrecovery #airlines #mice #medicaltourism #sustainability #esg #traveltrends #strategicpartnership

Check out Zerin Properties Weekly Hospitality updates below. The local hospitality industry marked the beginning of the year with the completion of the RM145 million sale of Holiday Villa Beach Resort & Spa Langkawi by AmanahRaya-Kenedix REIT Manager. Acquired for RM55 million in 2007, the 4-star beach resort was successfully sold to Plenitude Gateway Sdn Bhd, aligning with AmanahRaya REIT's objectives to reduce borrowings, optimize returns, and improve the yield of its asset portfolio. Additionally, ONYX Hospitality Group's expansion in Malaysia includes three new properties, marking a total of seven in its Malaysian portfolio and establishing the country as the first outside Thailand to host all three ONYX brands-Amari, OZO, and Shama. Meanwhile, in response to Sabah's booming tourism, Zerin Properties Group CEO Previndran Singhe emphasizes the pressing need for upscale accommodations to meet demand, with the state government actively attracting hoteliers and initiating various projects, including heritage building conversions, to boost tourism infrastructure. The tourism sector is expected to flourish with increased flights and strengthened ties between Malaysia and China, following the Ministry of Tourism, Arts and Culture's collaborations with major Chinese online travel platforms. In another development, Langkawi anticipates enhanced air connectivity in 2024, with new services from Flydubai and AirAsia Indonesian, expanded services by Malaysia Airlines, and charter flight series with Poland's ITAKA, reflecting the island's growing appeal as a tourist destination with increased international and domestic accessibility. In the international segment, The Ascott Limited's lodging arm, Ascott, expands its lyf brand with the signing of eight new properties, totaling over 30 operational or upcoming lyf properties globally. The new additions span resort and city destinations like Bali, Penang, Sydney, and Frankfurt. For more details on this week's hospitality updates do view the video below #zerinproperties #corporaterealestate #corporatetransactions #estateagency #hotelforsale #hotelinvestment #corenetglobal #apac #southeastasia #hotelinvestment #hotelexpansion #motac #ttourismmalaysia #tourismrecovery #airlines #mice #medicaltourism #sustainability #esg #traveltrends #strategicpartnership https://lnkd.in/gjQmW2wT

🏨 Hotel Industry Bouncing Back Globally? 🌍 There's some exciting stuff happening in the hotel sector outside of Europe, and it's worth taking a look at. In Asia Pacific, we're seeing a strong rebound in investor appetite. Singapore just witnessed its largest-ever single-asset hotel sale, and the Maldives had its first hotel transaction this year. These are clear signs of confidence returning to the market. Investors are increasingly optimistic about the sustained growth of pent-up travel demand. The main factors driving this appetite? The strong demand for leisure travel and the recovery of business travel in the region. The performance of the sector remains robust, with tourism arrivals and high occupancy rates instilling confidence that the current investment environment is externally based, rather than industry-specific. Back home, investment demand in the hospitality and leisure space is currently at just 13.9%, even dropping to 7.5% in the North East. It seems like the focus has shifted towards the development land and office spaces, with the rise of online purchasing driving warehouse development and sales. But here's the thing - this could be a sign of positive things to come. The strong rebound in the hotel sector in Asia Pacific shows that there's a lot of potential in our industry. It's all about timing and being ready to seize the opportunities when they come. So, while things might seem a bit slow now, let's not lose hope. The growth we're seeing elsewhere could very well spark a similar trend here. Let's stay positive, keep pushing, and be ready to ride the wave when it comes! #hospitality #hotels #investment #recovery https://lnkd.in/e2ikJnDD #hospitality #hotels #investment #recovery

Savills Japan has just released Japan Hospitality February 2024. "The hotel market has hit a new high ADR level, and the luxury hotel sector is thriving with more high-spending inbound tourists. However, the labour shortage is proving persistent, and further improvements look to be gradual, particularly for full-service hotels. Nonetheless, the limited supply, especially that of high-end hotels, bodes well for the higher-end segment." https://lnkd.in/gkFkhtRz

"Hello, busy people! Here’s this week’s roundup of updates from hospitality and tourism sectors to keep you informed! 🌏✨" New Hotel Opening & Responsible Hosting Guidelines: Wyndham Hotels & Resorts has unveiled the Wyndham Ion Majestic Hotel in Genting Highlands, Malaysia. The hotel, set 6,000 feet above sea level, offers 850 rooms and unique experiences. Airbnb has introduced a Guide to Responsible Hosting in Malaysia, promoting responsible short-term rental activities in strata buildings. This initiative aims to ensure positive experiences for hosts, guests, and neighbors while enhancing community safety and regulatory fairness. Aviation Sector and Tourism Uptick: Malaysia saw a 27.5% increase in foreign tourists in the first four months of the year, with tourism contributing RM22.23 billion to the economy in Q1. Visa liberalization has significantly boosted arrivals from China and India. Malaysia Airports Holdings Bhd (MAHB) reported 11.2 million passengers in May, surpassing pre-pandemic levels for the fifth consecutive month. KLIA now serves 70 airlines, with three more airlines including British Airways, ThaiViet Jet and 9 Air expected to begin operations by year-end. Malaysia Airlines has teamed up with Huawei to enhance its customer-centric approach and expand its presence in the Chinese market. The partnership aims to offer personalized experiences and innovative solutions for travelers. Malaysia Airlines has climbed to 39th place in the 2024 Skytrax Awards, up from 47th in 2023. Additionally, AirAsia has retained its title as the World’s Best Low-Cost Airline for the 15th consecutive year. ETS Express Service: Keretapi Tanah Melayu Berhad (KTMB) will launch the ETS Express service in August, reducing travel time between Kuala Lumpur and Ipoh to two hours. This upgrade is part of the Klang Valley Double Track (KDVT) project, enhancing travel efficiency and promoting tourism in Ipoh. For more details on this week’s hospitality updates, do visit https://lnkd.in/dTP7A7fy #zerinproperties #corporaterealestate #corporatetransactions #estateagency #hotelforsale #hotelinvestment #corenetglobal #apac #southeastasia #hotelinvestment #hotelexpansion #motac #tourismmalaysia #tourismrecovery #airlines #mice #medicaltourism #sustainability #esg #traveltrends #strategicpartnership

Hotels in Singapore saw a 17.7% increase over 2019 levels in revenue per available room in 2023, driven by higher average daily rates and longer stays. How will the #hotels sector fair in the first half of 2024? Sashi Rajan shares his insights on REal Talk, our #realestate market snapshot series. https://co.jll/49Vgwcc #JLL #JLLSingapore #JLLREalTalk #hospitality

Budget hotel owners in Malaysia, according to the Malaysian Budget and Business Hotel Association (MyBHA), may raise rates by 30 to 40 percent due to escalating operational costs. MyBHA President Sri Ganesh Michiel urges regulators to address rising costs and suggests measures such as special tariffs. Meanwhile, Sheraton Imperial Kuala Lumpur Hotel is in talks with Malaysia Airlines to provide inflight meal services following their successful collaboration for a Hari Raya menu. This partnership showcases opportunities for hotels to extend their services beyond traditional boundaries, enhancing customer experience and potentially boosting revenue streams. In a recent development, Malaysia Airlines announced plans to reroute flights between Kuala Lumpur and London to avoid Iranian airspace amid concerns over potential attacks in the Middle East. This decision aligns with similar actions taken by other airlines, including Air India, Qantas, and Lufthansa, in response to fears of a possible strike from Iran on Israel. Malaysia is strategically positioning itself in the cruise tourism industry, aiming to attract 35.6 million foreign tourists by 2026, with notable growth in cruise arrivals and passenger numbers. Penang continues to flourish as a cruise destination, evidenced by increased international vessel berths and expanding cruise terminal capacity, attracting renowned cruise lines and reinforcing its status as a sought-after destination. Additionally, the upcoming MATTA Fair Penang 2024 anticipates a significant increase in attendees, expecting around 35,000 visitors and targeting RM40 million in sales revenue. Accor's Mercure brand has recently unveiled its largest hotel globally on Club Street in Singapore, featuring 989 rooms starting at $195. Positioned between Chinatown and the CBD, the hotel offers eco-conscious amenities and six unique dining experiences, including the highly anticipated debut of L'antica Pizzeria da Michele from Naples. For more details on this week’s hospitality updates, do visit https://lnkd.in/dTP7A7fy #zerinproperties #corporaterealestate #corporatetransactions #estateagency #hotelforsale #hotelinvestment #corenetglobal #apac #southeastasia #hotelinvestment #hotelexpansion #motac #tourismmalaysia #tourismrecovery #airlines #mice #medicaltourism #sustainability #esg #traveltrends #strategicpartnership

🌸 Wyndham Hotels & Resorts adds to strong Asia Pacific footprint with debut of Wyndham Grand in South Korea New Wyndham Grand Ijin Busan offers guests a chic, upscale oceanside escape in the country’s second-largest city centre Wyndham Hotels & Resorts, the world’s largest hotel franchising company with approximately 9,100 hotels spanning more than 95 countries, announced the opening of Wyndham Grand Ijin Busan.     The 271-room hotel marks the debut of the esteemed Wyndham Grand brand into the beautiful country of South Korea.    Wyndham’s strategic expansion in South Korea comes when there is increasing demand for travel to the popular destination, with the number of international visitors surpassing 1 million for the first time in July 2023 since the onset of the pandemic, according to data from the Korea Tourism Organization.    Busan’s well-known reputation as a stunning coastal destination coupled with its fresh seafood offerings gives Wyndham guests extraordinary opportunity to indulge in memorable experiences in the country.    Ben Schumacher, Vice (...)   Read more about this news on Journal des Palaces https://lnkd.in/eUUavbKx #journaldespalaces #TheHeartofLuxuryHospitality #news #hoteliers Photo credit: Wyndham Hotels & Resorts

ICYMI: OYO hotels in Malaysia record 60% revenue growth in second half of 2023: Kuala Lumpur —  Global hospitality technology company OYO has announced that its hotels in Malaysia have recorded 60% revenue growth in the second half of 2023 in comparison to the preceding six months. OYO added 70 hotels in Malaysia from the January-June 2023 period, these hotels recorded average 60% growth on revenue in July-December 2023 […] http://dlvr.it/T2Bwpq