Chengdu Covid Fears Spurs Lock Down
Skift Take
- STR reported China hotel RevPAR was up 48.2% year over year against very easy comps. When compared with this week in 2019, RevPAR was down -20.4%. Absolute occupancy in China last week was 59.1% versus 43.1% in the same week last year.
- Chengdu reported 1,000 Covid cases and the Southwestern city in China has pretty much been sealed off. About 70% of the flights have been suspended to and from the city.
- Hong Kong is targeting an end to hotel quarantine in November, ahead of a summit of global bankers and an international rugby competition.
STR reported China hotel RevPAR was up 48.2% year over year against very easy comps. When compared with this week in 2019, RevPAR was down -20.4%. Absolute occupancy in China last week was 59.1% versus 43.1% in the same week last year.
It never is good for the hotel space when a city of 21 million people is locked down. Chengdu reported 1,000 Covid cases and the Southwestern city in China has pretty much been sealed off. About 70% of the flights have been suspended to and from the city. The problem for the rest of China is that Chengdu is a major transit hub in Sichuan province and a governmental and economic center. Once again we ask you how people are going to travel for the October Golden Week knowing quite well the odds of Covid cases being reported where they are during a holiday week is high as are the chances they will be locked down?
While Macau toes the Beijing line, Hong Kong seems relatively defiant. They are targeting an end to hotel quarantine
