COVID-19 webinar summary: 5 key points on Asia Pacific hotel performance, 29 January
Knowing you might not have time to watch our full webinars, we are pleased to continue our series of COVID-19 webinar summaries. In this latest edition, we talk performance in Asia Pacific.
Mainland China just 10% off its pace
When using total-room-inventory (TRI) methodology, which excludes temporary closures due to the pandemic, Mainland China RevPAR was just 10% behind its 2019 RevPAR levels. This was well ahead of other key regions around the world.
Sanya, in the Hainan province, was the only market in the region to record year-over-year growth in RevPAR. That growth was driven by ADR, which increased 4.7% in November for instance, thanks to leisure demand.
The leisure boost witnessed during the summer extended to “Golden Week” for several markets in Mainland China. For some, ADR and occupancy levels rose higher than 2019 Golden Week comparables.
High-end average daily rate
All hotel classes in China have been impacted by the COVID-19 pandemic. However, the Luxury & Upper Upscale segment maintained ADR the best with just a 9.5% decrease. The next best comparison was Midscale & Economy (-11.2%).
Forward-looking data shows events impact
Powered by Forward STAR, the image below shows occupancy on the books for the next 365 days (as of 4 January) in Wellington, Queenstown and the Gold Coast. Further insights are provided in the full webinar recording. Occupancy-on-the-books intelligence will help us all understand recovery and provide much-needed context. Those insights can be accessed for free when you submit your data. If you are interested, please email email@example.com.