Seven trending hotel news stories that will impact your Revenue Strategy.
1. Chinese travellers continue to grow travel appetite: Sabre
A recently released report on Chinese travellers’ motivations and behaviours showed that Chinese consumers’ appetites for travel are still growing, even off a base of high recent demand. Nine out of 10 Chinese travellers say they now have the means and are hoping to travel more frequently as compared to five years ago, according to a study released by Sabre Corporation. The report said higher disposable income, enabling technologies and access to relevant travel information are the top three factors that have contributed to this increase in travel.
2. Ctrip revenues climb 46% in Q1
Further evidence supporting the explosion of travel out of China is Ctrip’s financial statements, released last week. Its net revenues increased 46% year-on-year to RMB6.1 billion. Accommodation revenues were RM2.1 billion ($301 million), up by 28% year-on-year. The travel behemoth says it is making “great strides in penetrating into lower-tier cities and expanding into international markets, thanks to our teams’ strong execution and strategic investments.”China’s demand for #travel keeps growing + 7 trending #APAC #RevenueStrategy stories. Click To Tweet
3. Swiss-Belhotel International keen on India
Swiss-Belhotel International is sending a top-level team, including its chairman and president Gavin Faull, to India soon to explore opportunities. Faull said India is a significant market for the hotel group and will be part of its global expansion strategy. Discussions with owners and developers are on the table for the trip. The hotel group sees opportunity to fill the gap that is in the supply of branded/quality rooms.
4. Asia pipeline shows slight increase
STR’s April 2017 Pipeline Report shows 608,581 rooms in 2,753 hotel projects under contract in the Asia Pacific region, representing a marginal 3.8% increase in rooms under contract compared with April 2016. Shanghai, Jakarta, Bali and Chengdu were cited as the four key markets in the region with more than 5,000 rooms in construction.
5. New hotel brand enters Sydney
A new hotel brand, Skye Hotel Suites, is set to open in the western suburb of Paramatta in Sydney. Developed by Sydney-based Crown Group Australia, Skye Hotel suites has pitched itself as “urban luxury for discerning guests.” Skye Hotel Suites features 72 luxury studio, one- and two-bedroom suites overlooking Sydney.
6. SilverNeedle Hospitality rebrands as Next Story Group
Singapore-based SilverNeedle Hospitality has rebranded itself as the Next Story Group, after it acquired new media marketing agency Brand Karma. Together with SilverNeedle’s in-house architecture and design agency Virsa, the entity said it is now “highly specialised in marketing and design, holistically maximising ROI on real estate assets.” Next Story Group’s current portfolio of hotels reside mostly in and around Australia.
7. ZEN Rooms introduces “transformational” payment mode
ZEN Rooms, a leading online budget hotel franchise in Southeast Asia, has introduced a “transformational” pay-at-hotel, credit card-free feature for booking accommodation. The hotel booking platform said this concept would “truly democratise travel and transform accommodation booking the way cash-on-delivery revolutionised e-commerce in recent years.”
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Tags: APAC, Asia, Asia-Pacific, Australia, Bali, Chengdu, China, Crown Group Australia, Ctrip, hotel demand, hotel development, hotel expansion, Hotel Revenue Management, hotel revenue strategy, India, Indonesia, Jakarta, Next Story Group, Online Travel Agency, OTA, Sabre, Shanghai, Singapore, Skye Hotel Suites, Smith Travel Research, STR, Swiss-Belhotel, Sydney, ZEN Rooms