Despite the political and economic turmoil and hints of a looming recession, Europe remains the top choice for investors, especially those from Asia and, to a lesser extent, the Middle East. Major Asian investors, who are gung-ho on yields and do not shy away from risk, continue to shape Europe’s hotel landscape. That ebullience does not mean that challenges are not visible for t...
The Thomas Cook collapse is sending negative rippling effects all over the tourism industry with the latest victim being Spain. Hundreds of hotels in Spain are facing imminent closure over the collapse of British travel giant Thomas Cook, the head of the Spanish hotel federation warned, adding it is not just the hotels that are being affected but also tons of smaller businesses that ‘f...
Cross Hotels and Resorts which has its Asia Pacific offices based in Bangkok has expanded its presence in Vietnam with a new hotel management agreement for the X2 Vibe Halong Bay. The management contract was signed with Halong Bay Hotel Joint Stock Company, a subsidiary of Vietnamtourism and Hanoi JSC.
Rendering of X2 Vibe Halong Bay
Due to open in late 2023, the property will have 470 ro...
Hyatt Hotels is optimistic for 2019 and 2020 and plans more growth expansions. The Company expects to open approximately 85 hotels in the 2019 fiscal year, an increase from the prior expectation of over 80 hotels. Excellent results in the first semester 2019 have allowed the group to increase its openings.
Net rooms growth was 12.6% over the same period in 2018 thanks to the addition of 22...
China’s total hotel construction pipeline reached 2,995 hotels and 592,889 rooms at the end of Q2, up 19 percent by hotels and 7 percent by rooms year over year. Both project and room count are at all-time highs despite the recent economic slowdown, which many predicts that China’s economic growth rate will be 6.2 percent for 2019, the lowest reported since 1990.
Shanghai-China
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