COVID-19 webinar summary: 5 key points on Asia Pacific hotel performance, 13 November
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.
“Golden Week” boosts October
Mainland China saw an October boost in occupancy thanks to “Golden Week” (1-8 October 2020) and an influx of domestic travelers around the country. On 3 October, the market posted its highest occupancy level (82.5%). For comparison on 8 October (the last day of the holidays), the market saw its lowest occupancy level (41.6%) of the month.
Japan: Regional markets are still leading the recovery
As previously reported, regional areas in Japan are exceeding performance in the main cities. On 31 October, Kyoto posted the month’s highest daily occupancy (83%). For comparison, Tokyo and Osaka reported 57% and 62% occupancy levels, respectively, that same day.
South Korea: weekdays vs. weekends
Overall, hotel performance in South Korea is still highest on Saturday night compared to any other day of the week. The market saw its highest occupancy level (75.8%) on 7 November (Saturday). For comparison, on 5 October (Monday), the market posted its lowest occupancy level (20.5%) in the period from 1 October through 9 November.
Singapore occupancy-on-the-books data is now live!
Powered by Forward STAR data, the below image includes occupancy on the books for the next 3 months (as of 9 November) in Singapore, and 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 firstname.lastname@example.org.
Thailand: New supply on the way
The Upscale class in Thailand represents the biggest piece of the pipeline (37%) as per our recent records. STR’s AM:PM analysis tool provides understanding of the total supply and development situation in the country.