china hotel recovery
China’s Travel & Tourism Sector Forecast to See Swift Post-Pandemic Recovery Despite Prolonged Restrictions
WTTC | May 23, 2023
11.5MN more Travel & Tourism jobs in China this year Guangzhou, China: The World Travel & Tourism Council’s (WTTC) 2023 Economic Impact Research (EIR) today reveals China’s Travel & Tourism sector’s GDP contribution is forecast to grow more than 150% this year. The sector is set to contribute CNY 9.9TN to the economy this year, edging closer to the 2019 pre-pandemic high of CNY 12.27TN. Despite the effects of the pandemic spanning into 2022 in China, WTTC is forecasting for the sector to create almost 11.5MN jobs this year, recovering one in two of the jobs lost to reach 74.7MN. This means around one in 10 workers in...
STR: China Hotel Rates Higher Than 2019 Level During Lunar New Year
STR | February 15, 2022
BEIJING — February 15, 2022 — Mainland China’s hotel industry surpassed its 2019 comparable in Lunar New Year average daily rate (ADR) even with substantially lower occupancy, according to preliminary data from STR. The country’s ADR reached CNY766.95 during this year’s holiday period (31 January-6 February), which was 9.6% higher than the pre-pandemic comparable from the festival period in 2019 (CNY699.47). “More significant recovery of ADR aligns with our expectations for this year’s Lunar New Year period, with overall rates driven by the upper classes,” said Christine Liu, STR’s regional manager for North ...
Room Counts in China’s Hotel Construction Pipeline Reach All-Time High at the Q3 2021 Close
Lodging Econometrics | November 15, 2021
PORTSMOUTH, NH – November 15, 2021 – In the recently released China Construction Pipeline Trend Report by Lodging Econometrics (LE), at the end of the third quarter of 2021, China’s total construction pipeline stands at 3,571 projects/681,095 rooms, up 5% by projects and 7% by rooms year-over-year (YOY). Rooms in the country’s hotel construction pipeline are at an all-time high, and the pipeline is a mere three projects shy of the cyclical high of 3,574 projects set in the second quarter of 2020. While the COVID-19 pandemic continues to plague the global hospitality industry, China is showing signs of recovery. Large-scale vaccinat...
Hotel Performance Recovery in China Isn’t Just Faster, It’s Different
STR | July 12, 2021
Like many markets worldwide, Mainland China has worked diligently to establish a new, albeit temporary, normal. That has included tight border controls, enhanced testing measures and small but strict lockdowns to prevent new surges in COVID caseloads. As a result, travel in China has quickly rebounded in both the leisure and business travel segments. Sure, performance declines have occurred during lockdowns, but rebounds have quickly followed, and through the first half of 2021, hotel performance has remained pretty much near normal based on the market’s historical trends. At the same time, China’s somewhat unique mitigation efforts ha...
