China's Average ADR Surpassed 2019 Levels During Lunar New Year
Skift Take
- STR said during the seven-day Lunar New Year holiday period, China’s hotel average daily rate surpassed 2019 levels.
- In the recently released China Construction Pipeline Trend Report from Lodging Econometrics, analysts report the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms.
- Morgan Stanley said Macau’s hotel occupancy and daily room rates are showing unprecedented strength in the post-Chinese New Year period with at least two hotels fully booked through February and many others close to capacity.
STR said during the seven-day Lunar New Year holiday period, China’s hotel average daily rate surpassed 2019 levels. Occupancy edged closer to the comparable before eventually surpassing it on day seven. Also different from pre-pandemic normal years, many opted for trips to their hometowns as opposed to international travel. Overall 36 of 43 markets in China saw growth in RevPAR when comparing the seven days to the holiday period in 2019. Hainan and Sanya shined with RevPAR indexes to 2019 reaching 176 and 177, respectively. Other hot destinations included Xi'an, Quanzhou and two cities in the Yunnan province: Lijiang and Xishuangbanna. Hong Kong did not have the same success. STR said the market’s RevPAR during Lunar New Year was still well below 2019 levels, indexing at 52, despite a reopening of the border with Mainland China on January 8. Outside of China, STR said Japan and South Korea’s Lunar New Year holiday period saw their hotel sur
