Asia Pacific tips

New consumer preferences and habits have emerged in the first half of 2024 in an Asia Pacific tourism sector which is recovering from the pandemic years in an uneven manner.

As the Asia Pacific region continues to be the growth engine for luxury travel, a new comprehensive report from the Luxury Group by Marriott International has identified new expectations and travel preferences among high-net-worth (HNW) travelers in Asia Pacific. Across the region, 68% are planning to spend more on travel over the next 12 months – 89% among Indians - with 74% planning to travel within Asia Pacific and 88% prioritizing gastronomy as the reason to travel. One in four of all holidays planned (25%) are celebrations. Three distinct new groups of luxury traveler have emerged – the ‘Venture Travelist’ who seeks business opportunities when traveling, ‘Experience Connoisseur’ Millennials who are traveling for enrichment and ‘Timeless Adventurer’, over 65s who are building their own itineraries and exploring places before they become popular.

The Leela Palaces, Hotels and Resorts looks to make a significant entry into the public market, seeking a valuation of approximately $2.5 billion in its upcoming initial public offering (IPO), as reported by Mint.

Recent m1nd-set research highlights young Asian Pacific males as key drivers in global travel retail’s luxury sector, significantly impacting shopping patterns and preferences across various luxury categories.

Bhutan and Chiang Khan in Thailand have received the prestigious Green Destinations ‘Silver’ certification awards. For Bhutan regarded as the first carbon-negative country in the world, the Green Destination Silver Award is yet another significant achievement in the field of sustainable tourism. Guided by strong leadership and good environmental and conservation practices, Bhutan will continue to be a model tourism destination in the world. Chiang Khan is noted for its hundred year old wooden houses with exquisite architecture on the banks of the Mekong River. Chiang khan, the destination noted for its life and culture in Thailand has also been awarded as Green Destinations Silver. ‘Green Destinations’ based in The Netherlands is the Global Sustainable Tourism Council (GSTC) accredited certification body which offers the highest achievable and most affordable certification. So far 122 destinations across the world have been awarded certification by ‘Green Destinations’.

Conference aims to enhance industry competitiveness through initiatives focused on environment, connectivity, market liberalisation and much more.

Skift Research’s latest reading on the Skift Travel Health Index reveals a softening trend in global travel. This is due to the seasonality of demand: Our index dropped 4 percentage points to 105 in March 2024, which mirrors a slowdown we saw this time last year.

Marriott raised its forecast for 2024 profitability on Wednesday after predicting continued travel demand worldwide. But analysts spent the earnings call focused on travel booking behavior in the U.S., where post-pandemic domestic demand may be cooling.

The world’s biggest hotel chains are doubling down on India, betting that the country’s rising affluence will fuel a surge in travel demand for years to come.

San Francisco is gearing up to greet more visitors from China, starting with a pair of pandas.

Travel distribution platform TBO Tek has received the final nod from the Securities Exchange Board of India (SEBI) to raise funds through an IPO.

Incentive trips are making a comeback, according to FCM Meetings & Events India. The corporate travel firm noted a 30% jump in requests for them in the first quarter from a year earlier.

DerbySoft, a hotel distribution tech company, is expanding into the airline industry through the acquisition of Pkfare. 

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The travel industry continued to strengthen in February: The Skift Travel Health Index stood at 107, 7% growth over February 2023.

Malaysia Airlines has entered into a codeshare agreement with India’s largest airline IndiGo. The agreement would allow the airlines to provide the networks of both carriers to their respective customers. 

Trivago has brought back a key executive from its December 2016 IPO – there are now four leaders from the old guard running the Germany-based hotel metasearch outfit.

Tour operators are adjusting their operations amid Japan’s tourism boom during the popular cherry blossom season.

China’s economy is shaky, but that doesn’t mean its millions of citizens are going to stop traveling abroad any time soon. That’s what executives said at a panel at the recent ITB Berlin travel trade show.

At the inaugural Skift India Summit held at The Leela Ambience Gurugram on Wednesday, hospitality chain Oyo’s CEO Ritesh Agarwal addressed the speculation around its potential IPO. He said that the company does not have a need to raise money at this stage from the public or private markets. Oyo is currently focusing on delivering good earnings results, he said. 

Marriott’s journey in India began 25 years ago. The company today boasts of over 100 hotels, with another 79 in construction.