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.
Press Releases
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.
Outlook for China tourism in 2022: Trends to watch in uncertain times
Although Chinese consumer confidence is growing, desire for travel has shown a faltering recovery due to sporadic COVID-19 outbreaks. A predictable pattern is emerging where desire for travel recovers roughly two months after a decline and even though international travel is restricted, the desire for travel remains. Furthermore, travelers’ preferences are shifting, with implications for travel companies.
STR: China hotel rates higher than 2019 level during Lunar New Year
Mainland China’s hotel industry surpassed its 2019 comparable in Lunar New Year average daily rate (ADR) even with substantially lower occupancy, according to preliminary data from STR.
STR: Melbourne hotel rates reached pandemic-era highs in January
Helped by the Australian Open, Melbourne’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary January 2022 data from STR.
Beijing hotel performance expectations as Lunar New Year and Olympics intersect with the pandemic
Overlap between the Lunar New Year, 2022 Winter Olympic Games and the ongoing pandemic will create a conflicting mix of demand drivers for hoteliers in Beijing. With New Year celebrations typically driving travelers out of major metros, the Olympic Games pushing demand into the event center, and China’s zero-tolerance COVID-19 precautions overlaying both major events, February will be a month to remember for the Chinese capital.
STR: Sydney hotel rates reached pandemic-era highs in December
Reflecting the beginning of summer and impact of the holiday season, Sydney’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary December 2021 data from STR.
Review of Shenzhen Hotel Data Information Seminar
On 25 November 2021, STR held the Shenzhen Hotel Data Information Seminar at Hilton Shenzhen Futian.
China’s Travel & Tourism sector set to recover by more than 60% this year, reveals WTTC
New research from the World Travel & Tourism Council (WTTC) reveals the recovery of China’s Travel & Tourism sector has soared ahead of many major tourism markets such as France and the U.S., and ahead of the global recovery.
As lockdowns end, hotel bookings surge in Australia’s Gold Coast
Over recent months, Australia has experienced a number of lockdowns and travel restrictions which have resulted in record low levels of hotel demand. However, as the country enters the summer months and restrictions ease, positive trends are already developing for hoteliers. And while an uplift in demand can be observed across many of Australia’s key markets, it is the Gold Coast that is leading charge in forward bookings.
STR: Australia hotels show holiday demand lift
Lifted by the upcoming holiday season, occupancy on the books is rising in Australia’s key hotel markets with Brisbane and Adelaide nearing 70% for New Year’s Eve, according to STR’s Forward STAR.
STR: Melbourne hotel rates reached pandemic-era highs in November
Reflecting the end of lockdown and eased travel restrictions, Melbourne’s hotel industry reported its highest room rates of the pandemic-era, according to preliminary November 2021 data from STR.
JLL research examines the impact of the pandemic on key Indian Ocean hospitality market
The tourism sector is one of the key economic sectors of the Maldives, Mauritius, Seychelles, Sri Lanka and Zanzibar. Long favoured by holidaymakers from across the world for their crystal-clear waters and palm-tree fringed beaches, these Indian Ocean islands took a severe hit during the pandemic with borders closed in most of the countries.
Light at the End of the Tunnel - SHTM researchers develop pioneering method of forecasting tourism demand in times of crisis
Tourism around the world is reeling from the impact of the COVID-19 pandemic, and Hong Kong’s once vibrant industry is no exception. The path to recovery is unclear. In such extreme circumstances, is it even possible for tourism businesses to plan for the future? The answer is yes, say Ms Hanyuan Zhang and Professor Haiyan Song of the School of Hotel and Tourism Management (SHTM) at The Hong Kong Polytechnic University – but only if we can predict the unpredictable.