King Charles’ Coronation gave British luxury a boost, Asia Pacific Capital Tracker 1Q23 and more...

King Charles’ Coronation gave British luxury a boost
Wednesday, 17th May 2023

The coronation alone is estimated to cost between $63 to $126 million, even as Charles is said to have slimmed down the invite list. Unlike royal weddings, the British taxpayers foot the bill as part of their Sovereign Grant, an annual taxpayer allotment that allows the royals to live the lifestyle of luxury they’ve grown accustomed to.

It totaled $122 million in 2022, amounting to about $2 per U.K. citizen, less than the cost of a tall Starbucks, but painful for many who’ve had to cross a Starbucks’ indulgence off their list in a time of high inflation >>

Asia Pacific Capital Tracker 1Q23: Still in the woods
17 May 2023 : The region saw deal activity slump in the first quarter amid interest rate headwinds and the pricing adjustment cycle >>

IHG continues to strengthen Egypt portfolio
17 May 2023 : Continued partnership with Arkan Palm for Real Estate Investment will see IHG add close to 400 rooms across InterContinental and voco brands in the country >>

YOTEL debut in Thailand
17 May 2023 : Slated to open in 2025, YOTEL Bangkok will be located within Cloud 11, Asia’s largest content creator hub with a project value of over 1 billion USD >>

Disney Cruise Line and Singapore Tourism to bring magical cruises to Southeast Asia
17 May 2023 : Under a recently signed Memorandum of Understanding, Disney Cruise Line and Singapore Tourism Board agreed to collaborate to homeport a brand-new Disney cruise ship exclusively in Singapore for at least five years beginning in 2025 >>

HIGHLIGHT ARTICLE

Chinese Tourists are Back Travelling, But What Can We Expect from the Rebound?
Wednesday, 17th May 2023

When China’s long and lockdown-laden journey away from COVID finally reached its culmination in late 2022, the global travel industry breathed a sigh of relief: The fastest-growing, and one of the top per capita spending markets, was back in play.

The expectations are sky high, but will those wishes match reality and will we see a resurgence in Chinese tourists travelling throughout 2023? >>

New Build Hotel Decked Out in 200% Foliage Makes Debut June 1
Is it a garden? A park? Oh, it’s the Pan Pacific Orchard. You feel like you’re walking into a park or forest, through foliage-lined trails. You look up and the 23-storey hotel tower looks like a giant tree sticking out into the skyline.

Over 200% of the hotel’s land area is enveloped in foliage and there’s lots of water features to enhance that feeling of being immersed in nature >>

In case you missed it: Global eNewsletter of May 16, 2023
Radisson Hotel Group and PPHE Hotel Group accelerate global growth of its premium lifestyle brand, hospitality investments and more >>