Hotel Developers in Thailand Have Put 3 of 4 Projects on Hold
Skift Take
Hotel developers can't overcome their fear factor as they put 73 percent of new projects on hold. They're waiting for the return of Chinese and Russian visitors. They may be waiting quite a while.
Daily Lodging Report
Skift’s Daily Lodging Report is a subscription-required, email-only newsletter read by anyone and everyone in the hotel investor, owner, and operator space, including CEOs of some of the industry’s top brands. It covers North America and Asia Pacific with two separate regional editions.Here are some excerpts of what the Daily Lodging Report informed its readers during the past week. If you’re not a subscriber, you should be. Sign up now, here.
Sunday, May 1According to Lodging Econometrics’ Construction Pipeline Trend Report for Canada, at Q1 2022, "the country’s hotel construction pipeline currently stands at 258 projects/35,768 rooms." At the close of the first quarter, the province of Ontario leads Canada’s construction pipeline with 151 projects, followed by British Columbia and Alberta. Cities in Canada with the most projects in the pipeline in the first quarter continue to be led by Toronto with 64 projects/9,312 rooms, followed by Montreal, Vancouver, Niagara Falls, and Ottawa. The top hotel franchise companies in Canada’s construction pipeline at Q1’22 were Marriott International, Hilton Worldwide, and InterContinental Hotels Group. Top brands were Hampton by Hilton and IHG’s Holiday Inn Express.
Singapore-based SC Capital Partners has secured commitments from two global institutional investors for JPY122 billion, or US$951 million, for its new Japan Hospitality Fund. The fund will focus on acquiring minor repositioning and operating hospitality-related investments in Japan. That will include real estate trusts, beneficiary interests representing real estate, REITs and other companies. The initial commitment was initial com
