COVID-19 webinar summary: 5 key points on Asia Pacific hotel performance, 28 May
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.
Mainland China: Gradual recovery
Mainland China occupancy hit rock bottom in mid-January. However, the market has continued to show a gradual recovery since mid-February. For the week ending with 24 May, preliminary daily data shows better than 50% occupancy. Wednesdays and Thursdays are the highest occupancy days due to the increase in business demand.
Midscale and Economy hotels show better recovery
Midscale and Economy hotels in Mainland China are showing better recovery than other hotel classes due to their use as quarantine home hotels. For the week of the 27 April, Luxury/Upper Upscale and Upscale/Upper Midscale posted occupancy growth compared to the previous weeks thanks to the Labor Day Holiday (1 May).
Mainland China: Provincial business cities bouncing back quicker
Provincial business cities in Mainland China are bouncing back quicker due to growth in business demand. Leisure destinations posted growth in occupancy during Qingming Festival (4 April) and Labor Day (1 May).
Data shows a holding pattern in the Pacific region
Effects of COVID-19 have accelerated declines in occupancy, and the impact has been felt in key markets across the region. Since the beginning of April, occupancy has been below 30% in Australia and New Zealand, 22% and 23%, respectively. Occupancy has fallen to 10% in Fiji.
An update on Australia’s business on the books
Forward STAR data for Australia presents a picture of short-lead demand on the books for Melbourne, Sydney and Adelaide. The below image includes business on the books for the next 90 days as of 18 May, and further insights are provided in the full webinar recording.
Business-on-the-books intelligence will not only help us all understand when recovery begins, 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.