Good news coming from the Far East: Chinese Market moving into Recovery Mode
Active COVID-19 cases in China peaked on 17 February. Since then the number of active cases has been reducing rapidly. To assist hotels around the world in forecasts during the crisis we are publishing information of how the Chinese market is rebounding reservations since the peak of the epidemic. We hope this can give some comparison of how the hotel market could pick up in other countries. Some Takeaways:
- From peak, to lowest point the loss is 127.56 index points.
- The recovery, although slow, began immediately after China reached their highest infection rate on February 17th.
- In the 27 days since, we've seen an index growth of 12.03 points (8,5% growth compared to pre-crisis average).
- China is still running at only 20% of last years room nights booked but showing signs of rebounding.
Note: This chart has a logarithmic vertical scale.
Kay Bailey Hutchison Convention Center Dallas — Dallas, TX United States
About Shiji Group
Shiji Group is a multi-national technology company that provides software solutions and services for enterprise companies in the hospitality, food service, retail and entertainment industries, ranging from hospitality technology platform, hotel management solutions, food and beverage and retail systems, payment gateways, data management, online distribution and more. Founded in 1998 as a network solutions provider for hotels, Shiji Group today comprises 5,000 employees in 80+ subsidiaries and brands, serving over 91,000 hotels, 200,000 restaurants, and 600,000 retail outlets.
Shiji develops a network of cloud technology platforms that facilitate data exchange by connecting businesses vertically and horizontally across related industries. The importance of cross-industry integration to connect all levels of the supply chain, from guests to distributors and suppliers of all types is a critical part of our mission. Our goal is to facilitate the transition to fully integrated systems for our clients through a network of platforms that communicate securely and easily so our clients can focus on their core competencies of serving their guests.