India Hotel Occupancy On A Continued Decline Amid Second COVID-19 Wave
After an improved start to 2021, India’s hotel occupancy has been on a rapid decline amid the second COVID-19 wave in the country, according to data from STR.
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Horwath HTL Market Report: Bangkok & Phuket – Road to Recovery
The COVID-19 pandemic caught everyone by surprise. Many people are wondering when the Thailand hotel market will revive and how long it will take to return to normalcy.
WTTC Research Reveals Travel & Tourism Sector’s Contribution To The Philippine’s GDP Dropped By $37 Billion In 2020
COVID-19 sparks a dramatic 41.4% fall in the sector’s contribution to GDPMore than two million jobs lost in 2020 due to the effect of the pandemic on the sectorThe return of international travel this year could see GDP contribution rise by 48.5% and jobs recoveredReturn of international travel will provide a much-needed boost to its economy
Horwath HTL Market Report: China Hotel Market & Covid-19 Influence
In 2020, under the influence of COVID-19, Horwath HTL conducted a special Sentiment Survey on the Influence of the Novel Coronavirus Outbreak in February, June, September and December of 2020 and March of 2021.
WTTC Research Reveals Travel & Tourism Sector’s Contribution To South Korea’s GDP Dropped By $33.3 Billion In 2020
COVID-19 sparks a dramatic 45.5% collapse in the sector’s contribution to GDP84,000 jobs lost, while many more remain protected by the job retention schemeHowever, the return of international travel this year could see GDP contribution rise sharply and jobs returnWTTC recognises the government for its effectiveness in managing the crisis through the implementation of processes, policies, and protocols
COVID-19 second wave hinders economic recovery of Indian cities, says GlobalData
Economic activities in major Indian cities have been severely affected with the second wave of COVID-19 pandemic, which led to full or partial lockdowns across the country. Against this backdrop, the combined real GDP growth of nine major Indian cities has been revised downward to 9.28% in May 2021 from the earlier projection of 9.61% in January 2021, reveals GlobalData, a leading data and analytics company.
Australia’s Domestic Sector Driving Travel Rebound; Gold Coast And Cairns Propelling Recovery
OTA Insight, the cloud-based data intelligence platform for the hospitality industry, has revealed that leisure travel is making a strong recovery in Australia, with the Gold Coast and Cairns among most popular destinations for Australians looking for a winter escape.
HVS Musings: ‘Vaccine Confidence’ Is Driving The Recovery In The Global Travel Sector
Governments across the globe are continuing their race to vaccinate citizens amidst rising concerns about new variants and soaring cases in some parts of the world. Globally, over 1.3 billion doses have been given so far and 4.2% of the global population is fully vaccinated, as per the Our World in Data website.[1] While some countries such as Israel, Seychelles, Maldives, UAE, the US, and the UK are way ahead in the race, others are slowly catching up.
By Mandeep Lamba and Dipti Mohan
STR: Preliminary April Data For Sydney Hotels
Sydney's hotel industry reported its highest occupancy and revenue per available room (RevPAR) in 14 months, according to preliminary April 2021 data from STR.
Queensland Number One For Tourism Recovery
New statistics from Accor, the largest hotel operator in the Pacific, are showing that Queensland has recorded the fastest and most sustained rate of tourism recovery over the past year compared to all other States in Australia.
HVS Monday Musings: Vacation Home Rentals – The Next Big Story In The Making In India
Traveler preferences have evolved drastically since the onset of the pandemic. Social distancing, hygiene, cleanliness, safety, and privacy are the main priorities for travelers post the pandemic. An increasing number of people now consider smaller, independent, and private spaces to be 'safe havens' for travel. These evolving preferences have been driving the growth of vacation home rentals in India during the last year.
By Mandeep Lamba and Dipti Mohan
Japan’s Recovery From COVID-19 And What Lies Beyond
In January 2021, the Nikkei-225 Stock Average reached a peak not seen in 30 years, despite the third wave of COVID-19 cases. However, the real economy remains sluggish. As such, JLL Japan Research released the monthly Recovery Index – a comprehensive indicator to visualise how the socio-economic situation, which was hit hard during the pandemic, is recovering. The index shows that the momentum of the recovery are largely depending upon government measures.
2021 Chinese New Year Impact
One of the largest global celebrations each year is, undoubtably, Chinese New Year. Although the celebration this year (11-17 February 2021) felt different for the country, there was a noticeable impact around hotel performance.
In Focus: Singapore
The Republic of Singapore is a metropolitan city-state and island country in Southeast Asia with a total land area of an estimated 714.3 square kilometres. It is situated at the southern tip of the Malayan Peninsula, between Malaysia and Indonesia. With an economy supported by its growing population of approximately 5.7 million people, Singapore has witnessed remarkable record of sustained economic growth throughout the years and bolsters its role as a global commerce, finance and transportation hub.
Mumbai’s Rapid Hotel Recovery Faces Headwinds
Mumbai's rapid hotel performance recovery is projected to return to more moderate levels, according to a recent market forecast from STR and Tourism Economics.
STR: Preliminary March Data For Beijing Hotels
Beijing's hotel industry reported its highest room rates in 15 months, according to preliminary March 2021 data from STR.
Horwath HTL Market Report: Hangzhou, China: Hotel Market Overview
Hangzhou, the capital and the most populous city of Zhejiang, has been traditionally known as a tourism city for popular sights including West Lake and Lingyin Temple.
Majority Of India Hotel Markets Remain In Recession Territory
India hotels achieved a 50% occupancy level in February, which was the first time the country eclipsed that monthly mark since the start of the pandemic.
Bali Trailing Other Indonesian Markets In Hotel Performance Recovery
Indonesia finished 2020 in similar shape as its regional peers. Domestic demand was strong enough to lift hotel occupancy from pandemic low points but not sufficient to overcome the void in international travel. As Indonesia moves through the early part of 2021, the impact from lost international demand is most obvious in Bali, which continues to trail the country's regional markets in the recovery process.
HVS Monday Musings: Homestays In India Are Gaining Popularity In The Post-COVID Era
The popularity of homestays has increased manifold in the post-COVID era when social distancing, cleanliness, hygiene, and privacy have become the top priorities for travelers.
By Mandeep Lamba and Dipti Mohan