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.
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.
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
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.
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
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.
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.
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.
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.
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.
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.
Beijing's hotel industry reported its highest room rates in 15 months, according to preliminary March 2021 data from STR.
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.
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.
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.