The World Travel & Tourism Council’s latest Economic Impact (EIR) reveals Indonesia’s Travel & Tourism sector is expected to create more than five million new jobs over the next decade.
Sydney’s hotel industry reported steady occupancy, while room rates fell slightly from the prior month, according to preliminary May 2022 data from STR.
This report by Horwath HTL in Australia provides an outlook for ten key city markets across Australia, assessing the recovery made to date in March 2022 and the outlook for future growth.
Among key hotel markets in the Asia Pacific region, Sydney’s gross operating profit per available room (GOPPAR) level came closest to its 2019 comparable, according to STR’s April 2022 P&L data release.
Research conducted by the World Travel & Tourism Council (WTTC) has revealed the Travel & Tourism sector’s contribution to the Indian economy could surpass pre-pandemic levels this year, with a year-on-year growth of 20.7%.
India’s hotel performance recovery resumed early in 2022, but April seemed to be the turning point with the country outpacing pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive weeks.
Singapore’s mid-market hotel sector will continue to post healthy post-pandemic growth performance, fueled by increased tourist demand and reflected by heightened investment. According to JLL’s Singapore mid-market hotels outlook 2022, occupancy and investment into the sector will continue to recover in the second half of the year despite broader economic challenges including staffing shortfalls and inflationary-driven supply issues, and more industry-specific requirements such as digital upgrades to properties.
Accor, the largest hotel operator in Australia, has recorded growth in occupancy across its network of 66 hotels (10,200 rooms) in Victoria, but its city and suburban properties are still being impacted by delayed recovery in business and meetings travel.
Lifted by the Australian Grand Prix, Melbourne’s hotel industry reported its highest monthly room rates on record, according to preliminary April 2022 data from STR.
The recovery of travel demand in India is gathering steam, thanks to the relaxation of restrictions, positive travel sentiment, and the resumption of scheduled international flights, which has resulted in a significant increase in flight and hotel bookings in the country.
Laos is becoming an increasingly important part of the tourism and transport chain in south-east Asia and should aim to become a tourist destination unlike any other. Lao National Tourism Administration (LNTA) predicted that Laos will have 4.1 million tourists by 2020 however the tourists volume was down with 886K in 2020. Laos government closed international borders in April 2020 due to the pandemic, and tourism is negatively impacted until today.
Amid continued recovery from the Omicron wave, India’s hotel industry eclipsed pre-pandemic comparables in occupancy and average daily rate (ADR) for three consecutive days during the second week of April, according to preliminary data from STR.
Thailand’s battered hotel sector is showing increased signs of fatigue as the global pandemic enters its third year. Nowhere is this more apparent than the resort island of Phuket, where over 73% per cent of new hotel developments either lay dormant or have been put in hold. According to data in the newly released Phuket Hotel Market Update 2022 from C9 Hotelworks hospitality consulting, the once robust island hotel pipeline has owners now suffering from ‘fear factor’ as they continue to reel in the wake of a volatile marketplace and unclear future outlook.
The World Travel & Tourism Council’s latest Economic Impact Report revealed last year the Philippine’s Travel & Tourism contribution to the nation’s economy climbed 129.5.% year on year, to reach US$ 41 billion.
Following the Beijing Winter Olympics and Paralympics, China’s domestic ice and snow economy continues to boom. According to the latest data, the number of participants in ice and snow sports across the country reached 346 million after the Olympics achieved nearly 600 million domestic TV viewers. However, as the second host city of a pandemic-era Olympics, how did Beijing’s hotel market fare? What were the performance differences among the city’s submarkets? How did that performance compare with pre-pandemic periods?
Remote work, which has gained acceptance in the last two years, has transformed the hospitality industry, opening up an array of new customer segments. The ‘work from anywhere’ trend that emerged post the pandemic has popularized tourism concepts such as Staycations, Workcations, and long-stay, helping the beleaguered hotel industry in its darkest hours.
This weekend’s Australian Grand Prix is lifting Melbourne’s hotel occupancy on the books to its highest level since November 2019, according to STR’s Forward STAR.
The year 2021 has been nothing short of a roller coaster ride for the Indian hotel sector, full of hope and opportunities but also uncertainty as new variants of the virus acted as temporary roadblocks on the road to recovery. While the year began on a positive note with a surge in domestic leisure travel fueled by a steady drop in active cases and the start of the country’s vaccination program, the recovery was quickly hampered by new restrictions and lockdowns imposed in response to the country’s second wave.
The year 2021 has been nothing short of a roller coaster ride for the Indian hotel sector, full of hope and opportunities but also uncertainty as new variants of the virus acted as temporary roadblocks on the road to recovery. While the year began on a positive note with a surge in domestic leisure travel fueled by a steady drop in active cases and the start of the country’s vaccination program, the recovery was quickly hampered by new restrictions and lockdowns imposed in response to the country’s second wave.
In one of Australia’s largest hotel management portfolio agreement deals for over a decade, Salter Brothers has announced that its portfolio of hotels, acquired as part of the recent Travelodge acquisition, will be joining the global hotel giant Accor at the start of the 2023 financial year.