Hilton Hotel Chain—the world’s second-largest hospitality group—Billionaire Robert Kuokof Shangri-La As countries gradually open up to international visitors, they are speeding up expansion plans throughout the Asia-Pacific region, betting on a post-pandemic recovery.
Among global players, Hilton is actively expanding across the region, with plans to more than double its Asian footprint in the coming years. In 2021, the company will open a record number of 100 new hotels across the region, totalling 523 properties ranging in size from 20,000 to over 120,000, including 400 in Greater China, a major growth market.
Presence has grown. We recently signed a management agreement and plan to open 760 new hotels, including the Waldorf Astoria Sydney and the Waldorf Astoria Tokyo, with over 270,000 guest rooms across the region over the next few years.
“All segments in the Asia Pacific region are rapidly recovering,” Hilton President and Chief Executive Officer Christopher Nassetta said earlier this month during a visit to Singapore. There are over 1,000 rooms.
The former Hilton Orchard Hotel, located in the heart of Singapore’s most popular shopping district, is owned by OUE, which is managed by the Indonesian billionaire family. Lee Wenchang is a. With the addition of several new properties in the last few years; Orchard Road is undergoing a transformation.
Pan Pacific Hotels Group, based in Singapore, will open 347 rooms of Pan Pacific Orchard in March next year, managed by billionaire bankers and real estate tycoons Wee Cho YawUOL Group.
The company is adding over 4,000 rooms from 18 newly constructed and refurbished properties. We will have an existing portfolio of approximately 12,500 rooms spanning 39 owned and managed properties in Asia, Oceania, Europe, and North America within the next few years.
According to Pan Pacific CEO Choi Pensam, the hotel industry has been hit the hardest by the Covid-19 pandemic in the last two years, as governments around the world have imposed travel bans to stop the virus’s spread.
“Travel will come back,” Choi said in February when UOL announced its full-year 2021 results. “By the second half of 2022, we anticipate an influx of international visitors.” It will be a good location for these bookings.”
Asian hotel chains such as Singapore’s Shangri-La and Bangkok’s Dusitani are preparing for a post-pandemic recovery as countries throughout the region eased Covid-19 restrictions.
In the last six months, Shangri-La has opened four new hotels. There are three of them in China, totalling 1,188 rooms, and 203 Shangri-La Jeddah, Saudi Arabia’s first hotel.
Over the next few years, the company said it has a substantial pipeline of the hotel and multipurpose development projects in Australia, China, Cambodia, and Japan.
Limbach, CEO of Shangri-La Group, stated last month when the company reported,
“Sporadic Covid-19 has continued to disrupt international travel, affecting hotel operations in a number of major markets.” As a result, the road to recovery was not easy. In 2021, its revenue increased by 20% to $ 1.24 billion. “Be alert and prepared for the post-pandemic future, and seize business development opportunities as they present themselves.”
Dusit Thani has added more than 8,800 rooms to 52 new hotels in the region, indicating confidence that the travel industry will recover after a two-year slump caused by pandemic restrictions.
According to Suphajee Suthumpun, Group CEO of Dusit International, Forbes Asia. “That’s why we need to keep innovating in all aspects of our business.”
In anticipation of a recovery, investors around the world are increasing their exposure to hotel assets in the region. According to a report released in March by real estate consultant CBRE, investment in Asia Pacific hotels increased 46 percent to $ 12.1 billion in 2021. CBRE anticipates that resorts will attract significant investment in the second half of this year as expectations for a full recovery in occupancy and visitor numbers rise.
“This sector provides investors seeking higher returns with attractive risk-adjusted yields and asset relocation opportunities,” said Steve Carroll, Head of Hotels and Hospitality at CBRE’s Asia Pacific Capital Markets.