Hotel Performance Recovery in China: A Temporary Setback Due to Qing Ming

STR | April 13, 2023

China's hotel industry showed strong recovery in the first quarter of 2023, with domestic travel for both leisure and corporate purposes maintaining a V-shaped trajectory across the country and segments, including provincial and capital levels. As a result, hotel profitability has improved due to the return of demand, a sharp increase in hotel rates, and the industry's ability to manage the new reality of rising costs in labor, energy and logistics. Unfortunately, this year's Qing Ming, also known as Tomb-Sweeping Day, which fell on a Wednesday (5 April), created a sudden stop to the growth recovery. The national holiday runs off...