Despite Relative Slowdown, China Business Travel Market Remains One of Fastest Growing in the World - Investment in Travel Infrastructure Continues
As occupancy declined only marginally for the month, Singapores overall drop in performance came due to the decline in ADR. Strong supply growth coupled with weakened demand growth has provided tourists with a larger range of hotel options. As a result, hoteliers have lowered rates.
Oaks Bodhgaya is in the final stages of development and is slated to open in Q4 this year. The first phase of the property will have a total of 78 keys, in addition to a restaurant, a conference hall, a terrace with meditation area and landscaped gardens.
Aloft Jakarta Simatupang will mark the third Aloft brand pipeline hotel in Jakarta behind the 140-key Aloft Jakarta Kebon Jeruk (September 2017) and the 160-key Aloft Jakarta Wahid Hasyim (December 2017).
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