Louvre Hotels Group is moving into the fast-growing extended stay market with a new brand, Tulip Residences.

Trading strength in Greater China brought good news to an otherwise dreary set of financial results at IHG.

Accor is selling  a 1.5% stake in China-based hotel management company Huazhu for €239m, retaining a 3.3% stake.

Marriott International, the hotel owner and franchise operator, says there are “green shoots” appearing amid the palls of gloom surrounding the company and its industry.

Bangkok-based hotel owner and operator Minor Hotels is expanding into China following an MoU with Funyard Hotels & Resorts, a core alliance enterprise of Chinese property developer Country Garden Group.

Global hotel companies are making a big bet on the Asia-Pacific region with a slew of openings slated for 2021.

Ascott recorded 80% year-on-year growth in China with over 9,400 units secured in the country last year, including a move into the rental housing market.

Europe reported a more than five-percentage-point drop in occupancy in October over the previous year, according to HotStats.

The Asia Pacific hotel industry reported its best performance levels since the first quarter of the year, according to October 2020 data from STR.

Marriott International said that China continued to lead the group’s recovery, with third-quarter occupancy of 61%.