COVID-19 webinar summary: 5 key points on Asia Pacific hotel performance, 17 December
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 the Asia Pacific region.
Demand gradually improving in Mainland China
Mainland China’s worst year-over-year demand decline came in February 2020 (-79.2%). Since that point, demand comparisons in the market have gradually improved and even increased 2.3% in September 2020.
Lower-end hotels lead recovery in Mainland China
Due to continuous corporate demand growth, the Midscale/Economy class segment has been leading recovery in the market and posted the highest occupancy level among the classes in October (71.7%) and November (72.5%).
The Luxury/Upper Upscale classes have been most affected during the pandemic and reported the lowest occupancy levels in October and November. Upper Upscale saw 57.2% and 56.0% occupancy levels in October and November, respectively. Luxury hotels reported 61.7% and 57.8% occupancy levels in during the same months.
Multiple waves in Japan
Despite different waves of virus outbreaks, occupancy in Japan has been continuously improving thanks in part to the government campaign “Go to Travel.” However, as the voucher campaign removed Osaka and Sapporo, the market saw occupancy fall back.
Australia’s occupancy on the books
Australia’s regional destinations led the earliest stage of recovery in the country. According to STR’s Forward STAR data, this trend will continue with Saturday night continuing to be the most popular for bookings. Capital cities’ occupancy on the books sat behind as of 16 November (for the next 90 days) due to the continued lack of corporate demand.
Occupancy-on-the-books intelligence will help you to 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.