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.
About Shiji Group
Shiji is a global technology company dedicated to providing innovative solutions for the hospitality industry, ensuring seamless operations for hoteliers day and night.
Built on the Shiji Platform, the only truly global hotel technology platform, Shiji’s cloud-based portfolio includes Property Management System, Point-of-Sale, guest engagement, distribution, payments, and data intelligence solutions for over 91,000 hotels worldwide, including the largest chains.
For more information, visit www.shijigroup.com.