STR: Preliminary March data for Beijing hotels
LONDON—Beijing’s hotel industry reported its highest room rates in 15 months, according to preliminary March 2021 data from STR.
- Occupancy: 57.9%
- Average daily rate (ADR): CNY603.19
- Revenue per available room (RevPAR): CNY349.45
The absolute ADR level was the highest in Beijing since November 2019, while RevPAR was the highest in the market since November 2020. The occupancy level came in higher than the previous two months but remained slightly below the levels seen in Q4 2020.
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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