STR: Jakarta hotels post highest room rates since 2018
Jakarta’s hotel industry posted its highest monthly average daily rate (ADR) since August 2018, according to preliminary April 2023 data from STR.
News
Accor Hits High Note With Opera Australia Partnership
Accor, Australia’s largest hotel operator, is pleased to announce its Gold Partnership with Opera Australia, Australia’s pre-eminent performing arts company, bringing together two iconic brands to offer unforgettable experiences to both domestic and international guests.
India’s Budding Amusement & Theme Parks Sector
India's amusement & theme parks industry is still nascent, accounting for only a minuscule global market share, however, demand in this segment is expected to increase in the future. Read on to know more.
International and domestic travel bookings skyrocket for Chinese May Holiday
Leading travel service provider Trip.com Group reveals its Chinese mainland May Day travel trends, with strong domestic and international booking growth.
HVS ANAROCK India Hospitality Industry Overview 2022
The year 2022 painted a mixed picture for the global hospitality sector. It was the year that travel finally made a comeback after a majority of countries lifted their travel restrictions and most people resumed their pre-pandemic way of life. As a result, travel demand increased significantly across the globe with people trying to make up for the lost time. However, inflation, the Russia-Ukraine war, and the “great resignation” negatively impacted the hospitality business in a few countries. The Indian hospitality sector also witnessed similar trends during the year but was more resilient than some of its global counterparts.
ITB Berlin and IPK International: India was Asia’s largest source market for outbound travel last year
In 2022, India’s outbound travel market made an above-average recovery, for the first time generating Asia’s highest outbound travel volume, with foreign trips exceeding those of China, South Korea and Japan. Compared with pre-pandemic figures they reached slightly more than half of the travel volume achieved in 2019. With people keen to travel in 2023, the stage is set for a further recovery this year.
HVS Monday Musings: Indian Hotel Sector – Brand Signings in 2022
Driven by the strong recovery in demand, hotel companies accelerated their growth plans in 2022, resulting in an over 33% rise in brand signings by keys compared to the previous year. During the year, 166 new hotels with 14,885 rooms were signed, while 90 hotels with 5,702 rooms were rebranded.
By Mandeep Lamba and Dipti Mohan
Hotel performance recovery in China: A temporary setback due to Qing Ming
China's hotel industry showed strong recovery in the first quarter of 2023, with domestic travel for both leisure and corporate purposes maintaining a V-shaped trajectory across the country and segments, including provincial and capital levels. As a result, hotel profitability has improved due to the return of demand, a sharp increase in hotel rates, and the industry's ability to manage the new reality of rising costs in labor, energy and logistics.
STR: Melbourne hotel occupancy reached 36-month high in March
Melbourne’s hotel occupancy was its highest for any month since February 2020, according to preliminary March data from STR.
Japan hotel performance beginning to blossom
In Japan, the cherry blossom is in full bloom, providing spectacular sights in cities and signaling the arrival of warmer weather. Known as Sakura, these trees also provide the perfect metaphor for the country’s hotel industry, which is beginning to show reasons for optimism after a later reopening than many parts of the world.
Robust Phuket tourism numbers in Q4 last year and high winter season set the stage for recovery by year-end
Thailand’s leading resort island of Phuket’s post-pandemic tourism recovery has been headlined by a surge in Russian travelers in the high season. But the backstory is how a spike in regional visitors from India, Malaysia, and Singapore set the stage in Q4 of last year that pushed hotels and the service sector back into action. Data on hotel Phuket hotel performance in C9 Hotelworks' newly released Phuket Hotel Market Update 2023 shows how the industry escalated after Thailand lifted travel restrictions at the beginning of October 2022.
Sydney WorldPride 2023 pushed hotel performance to pre-pandemic levels
Sydney WorldPride 2023 drove the market’s hotel average daily rate (ADR) and revenue per available room (RevPAR) above pre-pandemic levels, while occupancy remained slightly below 2019, according to preliminary data from STR.
Investors circling Australian hotels after 2022 transactions hit $2.14 billion
Australian hotel sales hit $2.14 billion in 2022 - the second highest transaction volume on record - with significant additional equity capital still on the sidelines waiting for signs of a stabilisation in interest rates and inflation according to new CBRE research. CBRE’s latest Hotels Overview and Outlook report highlights that recovering occupancies and strong growth in Average Daily Rates (ADR) assisted in insulating the hotels sector from the effects of rising inflation.
Tokyo’s hotel room rates pacing ahead of pre-pandemic levels
The reopening of Japan’s international border several months ago, along with the National Travel Support campaign, have helped boost Tokyo’s hotel average daily rate (ADR) beyond pre-pandemic comparables for two straight months, according to STR.
Cautious optimism in India’s hotel performance recovery
India’s hotel industry turned in a stellar 2022 with revenue per available room (RevPAR) 100% recovered to pre-pandemic levels even with a devastating start to the year caused by a surge in the Omicron variant.
Beijing Set to Become World’s Largest Travel & Tourism City Destination Says WTTC
Research by the World Travel & Tourism Council (WTTC) has revealed that within the next decade, Beijing will overtake Paris to become the world’s largest Travel & Tourism city destination.
Bangkok hotels posted second-highest ADR on record in January
Bangkok’s hotel industry reported the second-highest monthly average daily rate (ADR) on record in the market, according to preliminary January 2023 data from STR.
China hotels benefit from first restriction-free Lunar New Year in three years, more success on the way for APAC
There was surprise around the globe when China announced the easing of most of its COVID restrictions in December 2022. That meant the end of a zero-COVID policy which had suppressed China hotel industry performance for almost three years.
Sun is still shining on Australia’s hotel industry
Australia’s hotel performance turned a massive corner during the first half of 2022 as the Omicron wave subsided and governments relaxed travel restrictions around the country. That freedom translated to consumer confidence, which boosted hotel occupancy for the remainder of the year and further stimulated average daily rate (ADR).
India Hotel Market Review 2022
The 2022 Annual India Hotel Market Review Report, is an analysis of the Indian Hotel market performance for 2022 prepared by Horwath HTL India which is based on data sourced from STR.