STR: Sydney’s hotel industry showed steady occupancy levels in May
Sydney’s hotel industry reported steady occupancy, while room rates fell slightly from the prior month, according to preliminary May 2022 data from STR.
Press Releases
Horwath HTL Market Report: Australia Quarterly Hotel Market Outlook March 2022
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.
Sydney hotels led April profitability recovery in Asia Pacific
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.
India’s Travel & Tourism could surpass pre-pandemic levels by the end of 2022
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 Hotel Performance Continues to Eclipse Pre-Pandemic Levels
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 mid-market hotel demand to accelerate in 2022
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.
Victorian hotel performance road to recovery; Accor calls for investment in events to fast-track tourism revival
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.
STR: Australian Grand Prix drove Melbourne hotel rates to record high in April
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.
India hotel occupancy and ADR top pre-pandemic levels in mid-April
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.
Pandemic economic impact hits Phuket hotels as 73% of new projects put on hold
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.
WTTC’s latest Economic Impact Report reveals significant recovery in the Philippines Travel & Tourism sector in 2021
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.
Review of Beijing Hotel Performance During the Winter Olympics
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?
Australian Grand Prix lifting Melbourne hotel bookings to 29-month high
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.
HVS India Hospitality Industry Overview 2021
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.
Australia Fund Manager Salter Brothers signs major deal with Accor
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.
Accor Queensland’s hotel performance shows signs of sustained recovery in Q1
An uplift in occupancy levels on the Sunshine Coast and Gold Coast is driving a resurgence in Queensland hotel performances for Australia’s largest hotel group.
STR: Sydney hotel occupancy stable in February amid COVID concerns
Amid increased COVID-19 cases and a slow return to office, Sydney’s hotel industry reported a marginal occupancy increase from the prior month, but lower rates, according to preliminary February 2022 data from STR.
Preferred Hotels & Resorts Expands Partnership with The Leela Palaces, Hotels and Resorts
Preferred Hotels & Resorts, the world’s largest independent hotel brand, is pleased to celebrate its continued and growing partnership with The Leela Palaces, Hotels and Resorts through the addition of two new properties to its global portfolio. With the launch of The Leela Bhartiya City Bengaluru in September 2021, and the addition of The Leela Palace Jaipur in November 2021, Preferred’s partnership with the Mumbai-based group has expanded to encompass 10 globally recognized properties across India, with plans to expand further in 2022 and beyond. This longstanding partnership with one of India’s most awarded hotel brands is a testament to Preferred’s strength in executing innovative global strategies that cater to the individual needs of its member hotels to create mutually beneficial relationships.
Ascott Residence Trust Invests JPY10.4 billion to acquire four rental housing properties and first student accommodation property in Japan
Ascott Residence Trust (ART) will invest about JPY 10.4 billion[1] (S$125.0 million[2]) to acquire four rental housing properties and its first student accommodation property in Japan. The yield-accretive acquisitions are set to increase ART’s pro forma FY 2021 Distribution per Stapled Security by approximately 1.7%[3]. The average NOI yield[4] is expected to be about 4.0%. The five properties will be acquired on a turnkey basis from two different sellers on a willing buyer and willing seller basis. The transactions are expected to be completed between 1Q 2022 and 2Q 2023.
China’s Travel & Tourism sector could reach CNY 11 trillion this year, says WTTC
New research from the World Travel & Tourism Council (WTTC) has revealed China’s Travel & Tourism sector’s contribution to GDP could reach CNY 11 trillion this year, just 5.2% short of pre-pandemic levels.