According to a recently-released Tourism Events Market Report, the global tourism event industry generated $1.6 trillion in 2022 and is anticipated to generate $2.5 trillion by 2032, witnessing a CAGR of 4.6% from 2023 to 2032.
Thailand hoping for Two Million Russian Tourists in 2024
Russian tourists flock to Thailand all year round now, due to sanctions imposed on Russia over its war in Ukraine.
Hospitality investors maintain confidence amongst uncertain times
A survey of major global investors has demonstrated an overall positive outlook for the hospitality sector, despite macroeconomic challenges.
Accor Pacific partners invest over $300 million in hotel renovations and refurbishments
Accor Pacific, the largest hotel operator in Australia and New Zealand, is delighted to announce that its partners have invested more than $300 million in hotel renovations and refurbishments since the beginning of 2022. This significant investment demonstrates Accor Pacific and its partner’s commitment to providing exceptional guest experiences and maintaining the highest standards of quality across its portfolio.
Dusit launches new group-wide sustainability program Tree of Life
Fully embracing ‘Sustainability’ as one of the four key pillars of Dusit Graciousness, Dusit International, one of Thailand’s leading hotel and property development companies, has rolled out a new group-wide sustainability initiative, Tree of Life, designed to ensure the company delivers on its promise to always have a positive impact wherever it sets foot.
Pipeline remains steady; 2025 Supply Growth Forecast is 1.5%
According to the Q2 2023 United States Construction Pipeline Trend Report by Lodging Econometrics (LE), at the close of the second quarter, the hotel construction pipeline stands at 5,572 projects/660,061 rooms, with projects up 7% year-over-year (YOY) and rooms up 6% YOY.
UNWTO: Rethinking agenda for African Tourism
Travel and Tourism leaders from across African continent joined representatives from international organizations and the private sector at the 66th meeting of the UNWTO Regional Commission for Africa, to focus on opportunities around tourism jobs and investments while also recognizing the vital need to address challenges including the climate crisis.
S Hotels & Resorts focuses on “3Ps” to become THB10 billion business
S Hotels and Resorts PCL, a leading hospitality investment and management company and the hospitality arm of Singha Estate PLC (SET: S) has started to write a historic new chapter as it aims to exceed THB 10 billion in revenue for the first time in 2023 – an increase of around 20% compared to last year’s impressive figure of THB 8.7 billion.
Ovolo growth plans prompt Sydney hotel sale plans
TriO Capital, the investment and asset management business of independent lifestyle hotel group Ovolo, is preparing to sell one of its boutique designer hotels in Sydney in a move to recycle capital to fund the group’s continued growth and expansion.
IHG Hotels in Portugal are awarded the prestigious green key certification
IHG Hotels in Portugal are delighted to announce that they have been awarded the prestigious Green Key Certification – a true testament to the hotels’ commitment to promoting sustainability in the travel and hospitality sectors. InterContinental Lisbon, InterContinental Cascais-Estoril, InterContinental Porto Palácio das Cardosas and Crowne Plaza Porto were all awarded this impressive accolade, further strengthening Lisbon’s hospitality industry’s dedication to protecting the environment.
