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.
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.
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’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.
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.
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).
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.
The World Travel & Tourism Council (WTTC) has today revealed positive signs of recovery for the Indian Travel & Tourism sector with travellers heading back to its major cities.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new Hotel Management Agreement with Khun Kanoknat Adhyanasakul, the owners of Centara Chaan Talay Resort & Villas Trat, to continue managing this successful property for a period of 10 more years.
The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Australian Travel & Tourism sector with major cities welcoming travellers once again.
The strong recovery in 2022 brought much relief to a sector devastated by COVID-19. The quick retraction of onerous COVID-19 policies, released the much pent-up demand in the market, making it the single biggest reason for a strong recovery. While occupancy remained slightly 5-7 percentage points (pp) lower than the full year 2019, in large part due to the much lower-than-expected Q1 2022, ARRs for 2022 recovered fully, crossing 2019 levels by almost 1-3%, in large part due to strong ARRs in Q4 2022. Similar to 2021, domestic travel was responsible for the strong recovery in demand. Buoyed by segments such as weddings and events, the hospitality sector continued its unabated growth in ARRs to recover in part the losses of the previous two years. Corporate travel recovered as well, contributing to the overall recovery of the sector.
Melbourne’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to preliminary December 2022 data from STR.
The hotel industry in Mumbai, India's financial hub, is, at last, experiencing a sustained recovery, fuelled primarily by a resurgence in corporate travel and large-ticket conferences and events. For instance, the city's occupancy surpassed 80% for the first time since the pandemic thanks to the IPL and some conferences that were held in the city in April and May 2022, and the city hasn’t looked back since.
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 several countries. The Indian hospitality sector also witnessed similar trends during the year but was more resilient than its global counterparts.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of hotel management agreement extensions by Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, Mr. Rony Fineman, owner of Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya, and Mr. Lon Ballard, owner of Centara Pattaya Hotel, to continue managing these renowned properties in one of Thailand’s most popular tourist destinations for a period of five more years.
The recent announcement that Adelaide will host the Australian Football League’s (AFL) Gather Round and LIV Golf in April 2023 has resulted in a boost in the market’s hotel occupancy on the books, according to STR’s Forward STAR data.
The hotel industry in Mumbai, India's financial hub, is, at last, experiencing a sustained recovery, fuelled primarily by a resurgence in corporate travel and large-ticket conferences and events. For instance, the city's occupancy surpassed 80% for the first time since the pandemic thanks to the IPL and some conferences that were held in the city in April and May 2022, and the city hasn’t looked back since.
Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new contract agreement with Dr. Pornsak Thantapakul, CEO and Managing Director of Anda Beach Resort Co. Ltd. and owner of Centara Anda Dhevi Resort & Spa Krabi, to continue managing this hugely popular property for a period of 10 more years.
Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR.