In HM’s 2024-2025 Hotel Development Outlook, Travel and Leisure Co. Senior Vice President Resort Operations, Warren Cullum, points to markets of interest in the Asia Pacific region amid an evolving hotel development landscape.
At AHICE 2024, we highlighted how strategic partnerships have been instrumental in our growth trajectory. We’re focused on expanding our core business by acquiring and developing vacation ownership clubs worldwide. Our dynamic and game-changing partnership with Sports Illustrated Resorts and our recent acquisition of the Accor Vacation Club underscore our dedication to diversification and expansion.
Travel and Leisure Co. has the exciting opportunity to introduce new vacation clubs bearing the Accor Vacation Club name internationally. We’re currently assessing various markets in Asia, the Middle East, Africa and Turkiye for future expansion.
We are poised to leverage our mixed-use development model with Accor Vacation Club to grow Accor hotel brands, mirroring our successful approach with Club Wyndham and Wyndham Hotels and Resorts.
Japan has become a key market for us, driven by the convergence of a weakened yen and a surge in tourism. This economic environment has made assets attractively priced. Our recent acquisition of Club Wyndham Chikumakan in Nagano highlights our strategic commitment to leveraging Japan’s booming hospitality sector. This resort marks our 19th property in the country, highlighting our ongoing expansion and investment in this dynamic market.
China remains a major focus, with Chinese travellers returning to both domestic and international travel. Thailand, with its visa-free policy for Chinese travellers, is poised to stimulate further growth, making it an attractive prospect for hotel development.
Looking ahead, we will continue to maintain a strategic importance on the South Pacific market, actively seeking acquisition opportunities in Australia, New Zealand and elsewhere in the South Pacific. As part of our annual refurbishment program, we will spend close to $20 million on refurbishments this year across twelve Club Wyndham and Accor Vacation Club properties in Australia, Fiji, and Thailand.