Marriott to Bring Moxy Hotels to Japan

Marriott International is bringing its millennial-focused boutique hotel brand, Moxy Hotels, to Japan with two new properties scheduled to open later this year. Located in the heart of Tokyo’s historical site Kinshicho and in close proximity to the Kinshicho Station, the Moxy Tokyo Kinshicho will feature 205 rooms. The hotel is converted from a stand-alone office building, owned by Goldman Sachs and managed by Tokyo-based commercial real estate developer, Pacifica Capital. The second property, Moxy Osaka Honmachi, situated a short distance from the Honmachi Station and comprising 155 rooms, is also a conversion from a stand-alone office building owned by Goldman Sachs and managed by EGW Asset Management. The two new properties will mark the second and third Moxy hotels in Asia Pacific, following the opening of the first Moxy in Bandung, Indonesia in Q3-2017.

Lemon Tree Opens Twin Hotels and Convention Centre at Gurugram, India

Lemon Tree Hotel Company announced the opening of its twin hotels – Lemon Tree and Red Fox – with a dedicated convention facility, in Gurugram, Haryana.  Located at Sector 60, Gurugram, the two hotels have a combined inventory of 258 rooms and suites, with the Lemon Tree Hotel offering 104 guest rooms and the Red Fox Hotel having 154 rooms. The Lemon Tree Hotel also features a coffee shop, a bar, approximately 11,400 square feet of meeting space, a business center, a fitness center and a swimming pool, while facilities at the Red Fox Hotel include a coffee shop, a fitness center, a cyber kiosk and a meeting room. The entire complex is spread over 4.5 acres and has a convention block that features more than 18,000 square feet of meeting and event facilities, as well as commercial and office space. In line with the group’s policy of employing people with disabilities and from underprivileged sections of the society, 70 per cent of the staff in these two properties as well have been recruited from these sections.

Dusit Set to Debut in Vietnam with Phu Quoc Beach Resort

Thailand-based global hospitality company, Dusit International, is set to open the DusitPrincess Moonrise Beach Resort in December this year. Located on Phu Quoc – Vietnam’s largest island, the resort will provide unobstructed view of the Bai Truong beach on the island's west coast, and is an estimated eight minutes’ drive from the Phu Quoc International Airport. The result of a long-term franchising arrangement with Linh Chi Limited Company, the resort will feature 108 rooms, ranging from 32 to 56 square meters. Additional facilities at the hotel will include an all-day-dining restaurant, a spa, an outdoor pool, a lounge and pool bar, a kids’ zone and a fully-equipped conference room. An emerging tourist destination, Phu Quoc is known for its attractive beaches, rich coral reefs, and dense, tropical jungle. Popular attractions include Phu Quoc National Park, a Unesco Biosphere Reserve, and Dinh Cau Temple, built in 1937 to honur Thien Hau, the Goddess of the Sea.

Carlson Rezidor Rebrands Park Plaza Noida to Radisson Noida in Uttar Pradesh, India

Tourism Exchanges Increase Between ‘Belt and Road’ Countries

According to the annual report of Ctrip, a leading online travel agency in China, inbound travelers of the countries along the ‘Belt and Road’ exceeded three million in 2016, recording an increase of 50% over 2015. In 2017, an estimated 25 million trips will be made from China to countries participating in the Belt and Road Initiative, according to Ctrip. China emerged as the largest feeder market for a lot of these countries, including Thailand, Vietnam, Singapore, Malaysia, Indonesia, Russia, Cambodia, the Philippines, the UAE and the Maldives. Among some 60 countries along the Belt and Road, over 20 have granted visa-free and visa-on-arrival travel for citizens of China, and consequently, more than 2,500 Chinese visitors are expected to travel to these countries in 2017. China too witnessed an increasing number of visitors from these nations in 2016. While Thailand, Singapore and Malaysia were the top three destinations in the Belt and Road region for Chinese travelers; Shanghai, Beijing and Xi’an emerged as the three most popular destinations in China. 

Absolute Share Price Performance, as on 19 May 2017