STR: Preliminary June data for Beijing hotels
LONDON—Beijing’s hotel industry reported lower occupancy but higher room rates when compared with the month prior, according to preliminary June 2021 data from STR.
- Occupancy: 64.7%
- Average daily rate (ADR): CNY645.54
- RevPAR: CNY417.69
The absolute ADR level was the highest in Beijing since October 2019, while RevPAR was the highest in the market since December 2019. The occupancy level came in lower than the previous two months due to new COVID-19 cases and travel restrictions in Guangdong, which impacted several markets including Beijing, but remained slightly above the levels seen in Q1 2021.
Year-over-year percentage increases are substantial because of the comparison with the months most affected by the pandemic in 2020.
All of STR’s COVID-19 analysis can be found here.
STR provides premium data benchmarking, analytics and marketplace insights for global hospitality sectors. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. STR was acquired in October 2019 by CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces. For more information, please visit str.com and costargroup.com.
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