Horwath HTL Market Report: Bangkok & Phuket – Road to Recovery
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.
Press Releases
WTTC Research Reveals Travel & Tourism Sector’s Contribution To The Philippine’s GDP Dropped By $37 Billion In 2020
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
Horwath HTL Market Report: China Hotel Market & Covid-19 Influence
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.
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
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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:
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.
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.
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.
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.