Markets & Performance Asia Pacific Press Releases - Hospitality Net

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June 1, 2021

WTTC Research Reveals Travel & Tourism Sector’s Contribution To South Korea’s GDP Dropped By $33.3 Billion In 2020

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

Korea, Republic of

May 26, 2021

COVID-19 second wave hinders economic recovery of Indian cities, says GlobalData

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.

May 12, 2021

STR: Preliminary April Data For Sydney Hotels

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.

May 12, 2021

Queensland Number One For Tourism Recovery

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.

April 21, 2021

Japan’s Recovery From COVID-19 And What Lies Beyond

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.

April 20, 2021

2021 Chinese New Year Impact

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.

April 16, 2021

Mumbai’s Rapid Hotel Recovery Faces Headwinds

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.

The next-gen metrics that move hotel P&L

Hotel tech has changed what's possible – and measurable. RevPAR and ADR aren't enough; discover the metrics that really matter.

Radical Innovation Hospitality TECHNOLOGY

Radical Innovation is an initiative that challenges creative thinkers and visionaries in hospitality TECH to pioneer compelling innovations that fuel the future of the hospitality and travel industries.

Radical Innovation

April 15, 2021

STR: Preliminary March Data For Beijing Hotels

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

April 13, 2021

Horwath HTL Market Report: Hangzhou, China: Hotel Market Overview

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.

Hangzhou, China

April 8, 2021

Majority Of India Hotel Markets Remain In Recession Territory

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.

April 2, 2021

Bali Trailing Other Indonesian Markets In Hotel Performance Recovery

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.

Bali, Indonesia

March 18, 2021

Horwath HTL Market Report: Bali Hotels & Hotel Residences

One year after the pandemic decimated global tourism, Horwath HTL Indonesia and C9 Hotelworks, take a quick look at full year 2020 hotel market performance and demand trends in Bali.Bali hotels have struggled to keep afloat, domestic tourism has provided a lifeline but hotel performance hit rock bottom. Not surprisingly much of the expected new supply is also in limbo. In residences, a new trend has appeared in luxury property sales.

Bali, Indonesia

March 11, 2021

STR: Preliminary February Data For Melbourne Hotels

Amid tightened restrictions, Melbourne's hotel industry reported lower performance levels compared with previous months, according to preliminary February 2021 data from STR.Year-over-year declines remained significant in comparison with February 2020:

Melbourne, Australia

March 2, 2021

STR: China hotels show slight Lunar New Year lift

Mainland China's hotel industry performance showed improvement from last year's pandemic-affected Lunar New Year period, but still fell well short in comparison with 2019 levels, according to preliminary data from STR.

February 18, 2021

Horwath HTL Market Report: New Zealand: Hotel Market Snapshot

New Zealand's response to the COVID-19 pandemic has been widely praised both locally and internationally.

Radical Innovation Hospitality TECHNOLOGY

Radical Innovation is an initiative that challenges creative thinkers and visionaries in hospitality TECH to pioneer compelling innovations that fuel the future of the hospitality and travel industries.

Radical Innovation

February 12, 2021

STR: Preliminary January data for Sydney hotels

Sydney's hotel industry reported lower performance levels compared with the previous month, according to preliminary January 2021 data from STR.

Sydney, Australia

February 11, 2021

IHCL Reports Third Quarter FY 2020-21 Results

The Indian Hotels Company Limited (IHCL), South Asia's largest hospitality company, reported its Consolidated and Standalone financials for the third quarter ending December 31st, 2020.

February 11, 2021

Japan cities to be deprived of economic gains from Tokyo Olympics amid COVID-19 resurgence, says GlobalData

The resurgence of COVID-19 cases across Japan in winter season and the delay in mass inoculation process are likely to reduce the gains expected for the local economies during Tokyo Olympics, thereby delay the economic recovery of Japanese cities in 2021, according to GlobalData, a leading data and analytics company.

February 5, 2021

Horwath HTL Market Report: India Hotel Market Review 2020

Jointly prepared by Horwath HTL India and STR, the annual report analyses hotel sector performance in an exceptionally challenging year marred by a global pandemic. It's a tale of massive occupancy drops, ADR and RevPAR declines.

January 12, 2021

STR: Preliminary December Data For Melbourne Hotels

Melbourne's hotel industry reported its highest performance levels since early in the pandemic, according to preliminary December 2020 data from STR.

Melbourne, Australia