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Whitebridge Asia Pacific Hotels Monitor November 2024
According to the latest World Tourism Barometer by UN Tourism, international tourist arrivals were at 96% of pre-C19 levels in the first seven months of 2024, with strongest growth in MEA (both ahead of 2019 results). Europe and the Americas were within touching distance, and APAC was at 82% of pre-C19 (despite their delayed re-opening) and growing fast on a rising tide of growing incomes and greater lift (IATA reported 53% growth in May 2024 y-o-y across APAC airlines). All markets reviewed in this Monitor witnessed ADR growth and only two dropped in occupancy (Maldives, -5.3% and Singapore, -1.5%).
Frasers Property and Sekisui House to jointly redevelop Robertson Walk and Fraser Place Robertson Walk, Singapore
Frasers Property Limited ("Frasers Property", and together with its subsidiaries, the "Group") and Sekisui House today announced they would jointly redevelop the 999-year leasehold site of Robertson Walk and Fraser Place Robertson Walk (collectively known as the "site") into a waterfront residential and lifestyle hub. Set to launch in 2025 and complete by the end of 2028, the new mixed-use development will feature a luxury 348-unit residential enclave with an exciting mix of dining and entertainment options, revitalising Robertson Quay in Singapore's prime District 9. This aligns with the Singapore Government's rejuvenation plans for the Singapore River Planning Area, which includes Robertson Quay, Clarke Quay and Boat Quay.
HVS Asia Pacific Hospitality Newsletter - Week Ending 15 November 2024
Grande Asset Sells Hyatt Regency Bangkok Sukhumvit for THB5.055 Billion in Thailand, Twenty One Whitfield Hotel Sold for HKD268 Million in Hong Kong, Eight-storey Serviced Apartment Block Sold for HKD160 Million in Hong Kong, Loadstar Capital Acquires Three Hotels in Japan, Singapore’s Changi Airport Invests SGD3 Billion in Upgrades.