India’s hotel industry turned in a stellar 2022 with revenue per available room (RevPAR) 100% recovered to pre-pandemic levels even with a devastating start to the year caused by a surge in the Omicron variant.
Research by the World Travel & Tourism Council (WTTC) has revealed that within the next decade, Beijing will overtake Paris to become the world’s largest Travel & Tourism city destination.
Bangkok’s hotel industry reported the second-highest monthly average daily rate (ADR) on record in the market, according to preliminary January 2023 data from STR.
There was surprise around the globe when China announced the easing of most of its COVID restrictions in December 2022. That meant the end of a zero-COVID policy which had suppressed China hotel industry performance for almost three years.
Australia’s hotel performance turned a massive corner during the first half of 2022 as the Omicron wave subsided and governments relaxed travel restrictions around the country. That freedom translated to consumer confidence, which boosted hotel occupancy for the remainder of the year and further stimulated average daily rate (ADR).
The 2022 Annual India Hotel Market Review Report, is an analysis of the Indian Hotel market performance for 2022 prepared by Horwath HTL India which is based on data sourced from STR.
The World Travel & Tourism Council (WTTC) has today revealed positive signs of recovery for the Indian Travel & Tourism sector with travellers heading back to its major cities.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new Hotel Management Agreement with Khun Kanoknat Adhyanasakul, the owners of Centara Chaan Talay Resort & Villas Trat, to continue managing this successful property for a period of 10 more years.
The World Travel & Tourism Council (WTTC) has revealed positive signs of recovery for the Australian Travel & Tourism sector with major cities welcoming travellers once again.
Melbourne’s hotel industry recorded its highest monthly average daily rate (ADR) on record, according to preliminary December 2022 data from STR.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of hotel management agreement extensions by Thirayuth Chirathivat, CEO of Centara Hotels & Resorts, Mr. Rony Fineman, owner of Centara Pattaya Hotel and Centara Nova Hotel & Spa Pattaya, and Mr. Lon Ballard, owner of Centara Pattaya Hotel, to continue managing these renowned properties in one of Thailand’s most popular tourist destinations for a period of five more years.
The recent announcement that Adelaide will host the Australian Football League’s (AFL) Gather Round and LIV Golf in April 2023 has resulted in a boost in the market’s hotel occupancy on the books, according to STR’s Forward STAR data.
Sydney’s hotel industry recorded its highest performance levels of the pandemic-era, according to preliminary November 2022 data from STR.
Centara Hotels & Resorts, Thailand’s leading hotel operator, has confirmed the signing of a new contract agreement with Dr. Pornsak Thantapakul, CEO and Managing Director of Anda Beach Resort Co. Ltd. and owner of Centara Anda Dhevi Resort & Spa Krabi, to continue managing this hugely popular property for a period of 10 more years.
Melbourne’s hotel performance reached a pandemic-era high, according to preliminary October 2022 data from STR.
On 14 th November, 2022, Indies Capital Partners (“Indies Capital”), a leading alternative asset manager in Southeast Asia, announced the acquisition of a 60% stake in PT Swiss- Belhotel International Indonesia and PT Zest Hotels International Indonesia (together, the “Companies”) from Ciputra Group Indonesia.
The hotel market in mainland China has been influenced by a number of factors over the last couple of years, not least by the COVID-19 epidemic and subsequent lockdowns and travel restrictions, but what are the opportunities for future growth? Before we answer this, let’s look at the current market.
Sydney’s monthly hotel performance reached a pandemic-era high, according to preliminary September 2022 data from STR.
The world regions that have experienced the most significant hotel performance recovery to date are now faced with similar challenges. Most of those challenges stem from economic uncertainty. In India, there are certainly challenges, but there are also unique factors driving optimism and opportunity. Specifically, overall societal change is presenting India’s travel and tourism industry with temptations not seen for some time.
Melbourne’s hotel performance fell from the previous month, but room rates remained well above the pre-pandemic comparable, according to preliminary August 2022 data from STR.