SINGAPORE, 6 August 2024: Wyndham Hotels & Resorts, a hotel franchising company reported record growth in Asia Pacific for the first half of 2024 according to a statement released Monday.
It confirmed the introduction of four new brands and the signing and opening of 120 and 74 hotels, respectively. The expansion has driven an 8% year-on-year net room growth, equivalent to 15,100 rooms in the first half of this year.
“Wyndham’s record signings and strong performance in Asia Pacific reflects sustained growth powered by a travel resurgence in the region in 2024. This record performance underscores Wyndham and their business partners’ confidence in the growing travel demand,” the hotel group explained.
Key takeaways
The hotel group says the strong growth is attributed to Wyndham’s positive performance in Mainland China, where the company signed 104 hotels, contributing to a 22% increase in hotels signed in APAC as compared to the previous year.
In the past five years, over USD275 million in investments have provided Wyndham partners and owners with top-tier technology, including next-gen property and revenue management systems.
Global passenger demand rose 11%, with Asia Pacific leading at 27%. This reflects a positive travel industry outlook for Asia Pacific, aided by eased Chinese visa rules and domestic tourism recovery.
“Across Asia Pacific, we have seen a strong growth momentum in the tourism sector in 2024, and our growth reflects our confidence as well as that of our business partners in the rising travel demand. We remain focused on our Owner First philosophy, providing unparalleled support to help our owners succeed and delivering incredible experiences to guests as we continue to grow across the region,” said Wyndham Hotels & Resorts President, Asia Pacific Joon Aun OOI.
