HVS ANAROCK Hotels & Hospitality Overview, October 2023
This is a monthly industry update that highlights the key trends in the Indian hospitality industry.
Press Releases
China hotel performance jumped during eight-day-long Golden Week
A later Mid-Autumn Festival created a longer holiday period than last year, combining with National Day festivities to provide impressive improvement in China’s hotel performance.
Lower room rates stalled Melbourne’s performance growth in September
Melbourne’s hotel industry reported a decline in revenue per available room (RevPAR) for just the second time this year, according to September 2023 preliminary data from CoStar. CoStar is a leading provider of online real estate marketplaces, information, and analytics in the property markets.
Japan Hotel Performance Recovery Accelerated During Summer Months
Even though room rates remained flat in comparison with 2019 during the first half of the year, Japan posted elevated average daily rate (ADR) of JPY18,507.46 in July. That level was 126.9% of what was seen in the comparable month of 2019. Japan’s hotel occupancy is still yet to reach full recovery, with July’s 73.4% average coming in at 88.3% of the pre-pandemic comparable. When looking at daily data, the highest occupancy level was on Saturday, 15 July (at 89.2%), which was the first day of Marine Day, a three-day-long national holiday in Japan. That occupancy level was the highest in Japan since 15 December 2019.
HVS ANAROCK Hotels & Hospitality Overview, September 2023
Read the latest edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Travel & Tourism to Witness Major Resurgence due to Chinese Travellers
The World Travel & Tourism Council (WTTC), today shed light on the substantial resurgence of China’s Travel & Tourism sector.
Sydney hotel performance peaked during FIFA Women’s World Cup
Helped by the FIFA Women’s World Cup, Sydney’s hotel industry recorded its highest monthly performance levels since March 2023, according to preliminary August 2023 data from CoStar. CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets.
Australia hotel performance normalizing with improvement in business travel
Australia’s recent hotel performance represents normalization as leisure demand has peaked and given way to strengthening in corporate business, according to CoStar and STR analysis that will be presented this week at NoVacancy Hotel + Accommodation Industry Expo.CoStar is a leading provider of online real estate marketplaces, information and analytics in the property markets. STR is CoStar’s provider of data benchmarking, analytics, and marketplace insights for the global hospitality industry.Australia’s occupancy through the first seven months of the year was 68.2%, which was up 9.8% from last year but down 6.0% from 2019. Average daily rate (ADR) of AUD234.46 was 7.4% higher than last year and 22.4% better than 2019. Driven by gains in ADR, revenue per available room (RevPAR) has been indexing at 120 (20 percentage higher) or better than 2019 since April 2022. “Australia is following many other countries into a period of normalization,” said Matthew Burke, STR’s regional director for the Pacific region, Central South Asia and Japan. “That is happening because the surge in domestic leisure travel peaked in 2022, and while room prices are considerably higher than 2019, we’ve seen minimal-to-no rate growth year over year. That isn’t a loss, but more of a shift, as we’ve seen gains in capital cities and on the days most associated with corporate demand.”
HVS ANAROCK Hotels & Hospitality Overview, August 2023
This monthly industry update highlights the key trends in the Indian hospitality industry.
Taylor Swift, Coldplay and the Rotary Convention: Singapore hotel bookings jump for eventful first half of 2024
There is plenty of time remaining in 2023, but Singapore’s hotel bookings are already increasing rapidly for 2024 with the market set to host several major events early in the year. Utilizing Forward STAR data, we took a quick look at the specific impact for Singapore’s hotels from Taylor Swift’s “The Eras Tour”, Coldplay and the global Rotary Convention.
HVS ANAROCK Hotels & Hospitality Overview, July 2023
Check out the July 2023 edition of the HVS ANAROCK monthly industry update, Hotels & Hospitality Overview (H2O), for the key trends in the Indian hospitality industry.
Swiss-Belhotel International and CTG Hotel, China’s Largest Tourism Enterprise Sign an Alliance
Swiss-Belhotel International, the rapidly expanding global hotel management group, has signed a memorandum of understanding (MOU) with CTG Hotel, part of the largest tourism enterprise in China - China Travel Group. The partnership is set to significantly boost the Swiss-Belhotel International’s portfolio.
Accor doubles portfolio in Japan with agreement to operate 23 properties
Accor, the region’s largest international hospitality group is expanding its presence in Japan with the addition of the Daiwa Resorts portfolio, adding 23 properties and over 6,000 rooms, to its network across the country.
Jakarta hotel ADR and RevPAR highest since October 2018
Jakarta’s hotel industry recorded its highest average daily rate (ADR) and revenue per available room (RevPAR) levels since October 2018, according to preliminary June 2023 data from STR.
More than 1.6MN Travel & Tourism jobs set to be created in India this year
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals India’s Travel & Tourism sector is in strong recovery and will be within touching distance of the pre-pandemic peak this year.
Marriott International signs agreement with Hiap Hoe Limited to bring the Aloft Hotels Brand to Singapore
Marriott International, Inc. today announced it has signed an agreement with Hiap Hoe Limited, through HH Properties Pte. Ltd, to bring the design-forward Aloft Hotels brand to Singapore. Following a strategic conversion, the signing of the 785-room hotel expects to open in in Q3 2023, marking the Aloft brand's debut in Singapore and the largest Aloft hotel in the world.
China’s Travel & Tourism sector forecast to see swift post-pandemic recovery despite prolonged restrictions
The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals China’s Travel & Tourism sector’s GDP contribution is forecast to grow more than 150% this year.
Successful May Day another sign of China’s hotel performance recovery
With long-held COVID restrictions in the rearview, China’s hospitality industry has embarked on a rapid journey to normalcy, which has been fairly successful thus far.
STR: Jakarta hotels post highest room rates since 2018
Jakarta’s hotel industry posted its highest monthly average daily rate (ADR) since August 2018, according to preliminary April 2023 data from STR.
Accor Hits High Note With Opera Australia Partnership
Accor, Australia’s largest hotel operator, is pleased to announce its Gold Partnership with Opera Australia, Australia’s pre-eminent performing arts company, bringing together two iconic brands to offer unforgettable experiences to both domestic and international guests.