China's Travel Rebound May Speed Up
Skift Take
- STR reported China hotel RevPAR was down -17.7% year over year for the week ended 12/31/22. When compared to the same week in 2019, RevPAR was down -23.6%.
- As of Sunday, the terrible hotel news of the past three years is just that, in the past as borders were reopened in China.
- The Philippines and China signed a new comprehensive tourism agreement that aims to strengthen mutual development in areas such as hotels, resorts, cruise ships, ports, tourism products and other related industries.
STR reported China hotel RevPAR was down -17.7% year over year for the week ended 12/31/22. When compared to the same week in 2019, RevPAR was down -23.6%. Absolute occupancy for the week was 39.8%. A year ago, absolute occupancy was 51.3%.
As of Sunday, the terrible hotel news of the past three years is just that, in the past as borders were reopened in China. There will continue to be plenty of news stories about countries putting restrictions on travelers from China while also trying to keep their residents from traveling to China. Quite a few European countries, as well as the United States, warned their citizens not to travel to China, including the SAR of Hong Kong and Macau. The warnings include the potential not to be able to get medical care, the highest outbreak ever of Covid cases in China but the reality is that this will fade away. The early data from the first day of Macau’s borders being open shows that Chinese are just like the US residents were
