Hilton is planning to grow its presence in Greater China from nearly 20,000 rooms to 270,000, while Accor has found partners to help build more than 1,300 hotels. It’s wise for the giants to look beyond China’s current pandemic crisis and plan for future growth.
Hotel companies Hilton, Pan Pacific Hotels, and Shangri-La are accelerating Asia Pacific expansion plans. Hilton is planning to more than double its presence in Asia in the coming years, opening a record 100 hotels in the region in 2021, expanding its presence from nearly 20,000 rooms to more than 120,000 rooms at 523 hotels, including 400 in Greater China. It is aiming to open 760 new hotels in the coming years to bring the total number of rooms in the area to more than 270,000. Pan Pacific Hotels Group will add more than 4,000 rooms from 18 new and renovated properties over the next few years, adding to its existing portfolio of nearly 12,500 rooms across 39 owned and managed properties in Asia, Oceania, Europe, and North America. Shangri-La has opened four new hotels in the past six months, including three across China with a total of 1,188 rooms as well as its first hotel in Saudi Arabia. The group said it has a significant portfolio of upcoming hotel and mixed-use development projects in Australia, China, Cambodia and Japan in the coming years. CBRE said in March that hotel investment in Asia Pacific surged 46% to $12.1 billion in 2021.
