Research conducted by the World Travel & Tourism Council (WTTC) has revealed Sri Lanka’s economy could face losses of more than LKR260 million each day it remains on the UK’s disruptive and damaging ‘red list’ for travel.
With the help of summer vacation, Mainland China’s overall hotel occupancy rate showed a good upward trend in July, with the second and third week of the month reaching 2019 levels.
As host to the delayed summer Olympics, Tokyo posted its highest hotel occupancy in 17 months and saw a pair of days with levels that approached the peak of the “Go To Travel” campaign in 2020, according to data and analysis from STR.
Reflecting the ongoing impact of the latest lockdowns, Sydney hotels showed significantly lower performance across the three key performance metrics, according to preliminary July 2021 data from STR.
The illustrious Karma Group has welcomed another elegant property into its luxury resort portfolio, this time in Vietnam. Sitting among the picturesque UNESCO World Heritage-listed town of Hoi An sits Karma Song Hoai.
South Asia’s largest hospitality company, reported its consolidated financials for the first quarter ending June 30th, 2021.
All key markets in China showed June 2021 increases in hotel occupancy and average daily rate (ADR) compared to the same period last year, except for Guangzhou and Shenzhen.
After a rapid decline due to a second COVID-19 wave, India’s hotel industry has seen a continued increase in occupancy due to the progressive approach to vaccinations in key markets across the country, according to preliminary data and analysis from STR.
With Australia battling a rise in COVID-19 cases, domestic travel has reduced drastically. While Australia’s domestic recovery was strong in H1 2021, the reintroduction of lockdowns and state border closures will serve as a blow, and set to weaken and slow down the domestic travel recovery. Additionally, Qantas airline standing down its staff signals the prospect of a longer road to recovery, says GlobalData, a leading data and analytics company.
After being one of the highest-performing countries during the early portion of 2021, Australia’s hotel occupancy has been on a rapid decline amid the latest COVID-19 lockdowns across the country, according to data from STR through 1 August.
In 2020, Chengdu’s hospitality industry accounted for 65.7% of GDP, contributing 52.2% to the city’s economic growth and significantly increasing its contribution to the development of energy levels and economies.
Like many markets worldwide, Mainland China has worked diligently to establish a new, albeit temporary, normal. That has included tight border controls, enhanced testing measures and small but strict lockdowns to prevent new surges in COVID caseloads. As a result, travel in China has quickly rebounded in both the leisure and business travel segments. Sure, performance declines have occurred during lockdowns, but rebounds have quickly followed, and through the first half of 2021, hotel performance has remained pretty much near normal based on the market’s historical trends.
Beijing’s hotel industry reported lower occupancy but higher room rates when compared with the month prior, according to preliminary June 2021 data from STR.
After the outbreak of the epidemic in Guangdong at the end of May, the occupancy rates of the two major cities in Guangdong—Guangzhou, Shenzhen, and other parts of the province—have fallen to the bottom. As the center of this epidemic, Guangzhou hotels have been more severely affected. With the implementation of anti-epidemic measures and accelerated vaccination, the Guangzhou epidemic has gradually improved in mid-June. Not only has Fangcun been unblocked, high-risk areas have been downgraded, and the occupancy rate of Guangzhou hotels has also improved. In Shenzhen, affected by the new cases in the Bao’an District on 14 June, it may take some time to recover.
Amid recent COVID-19 outbreaks and lockdowns, key markets in Australia are showing noticeably lower levels of occupancy on the books for the coming weeks, according to data from STR’s Forward STAR.
From mid-June 2021 Indian states started easing COVID-19 induced lockdown in a cautious way to get back to normal. As a result, six major metropolitan areas are forecasted to grow by 9.7% in real terms in 2021 and unemployment rate set to decline by 0.9 percentage points over the last year, says GlobalData, a leading data and analytics company.
Despite Australia’s relative success in controlling the spread of COVID-19, the Australian hotel industry was hit hard by the onset of the global pandemic. However, its success in controlling the virus, together with a strong and large domestic travel market, has allowed for a positive return to growth in 2021.
Melbourne’s hotel industry reported lower performance levels compared with the month prior, according to preliminary May 2021 data from STR.
COVID-19 sparks a dramatic 37% fall in the sector’s contribution to GDPMore than 290,000 jobs lost, while many more remain protected by the expansion of the employment scheme However, the return of international travel this year could see GDP contribution rise sharply and jobs return
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.