Tharaldson Hospitality Management Unveils the Residence Inn Fairfield Napa, its 84th Hotel Offering Luxurious Accommodations in Fairfield, CA.
Marriott International reports second quarter 2023 results and raises full year outlook
Anthony Capuano, President and Chief Executive Officer, said, “With continued momentum in demand for global travel, we posted another quarter of outstanding results. Second quarter worldwide RevPAR increased 13.5 percent, aided by significant growth in all of our international regions, where RevPAR rose 39 percent. Greater China rebounded quickly once travel restrictions were lifted in January, with second quarter RevPAR surpassing pre-pandemic levels.
Global Tourism event market worth $2.5 Trillion by 2032
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.
