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China’s Average ADR Surpassed 2019 Levels During Lunar New Year

Alan Woinski
February 14th, 2023 at 7:51 AM EST

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 surpass 2019 levels, even without Chinese tourists. Five of Japan’s 12 STR-defined markets saw RevPAR grow up to 32%. On the contrary, popular outbound destinations in Southeast Asia were still behind 2019. Chiang Mai and Hanoi saw their RevPAR lower than 2019 by 42% and 29% respectively.

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. In 2023, LE analysts forecast 787 projects/115,943 rooms to open, and in 2024, 893 projects/145,744 rooms are forecasted to open throughout the country.

Chinese Hotel Pipeline at Q4 Close

Under Construction2,618472,396
Starting in 12 mos.40479,048
Early planning559123,630

Chinese Cities with the Largest Pipelines at Q4 Close


Companies with the Largest Pipelines in China at Q4 Close

Jin Jiang Holdings17717864

Brands with the Largest Pipelines in China at Q4 Close

Hilton Garden InnHilton9819,065
Holiday Inn ExpressIHG18129,138
7 Days InnJin Jiang Holdings907,060
Holiday InnIHG7518,261
Four Points by SheratonMarriott6016,191
Vienna HotelJin Jiang Holdings343,522

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. Macau traditionally was quiet post-CNY but MS’ study shows the opposite in 2023. They said Melco Resorts’ Morpheus and Ritz-Carlton at Galaxy Macau are fully booked for the entire month of February. Morpheus is fully booked for March as well. Nine of MS’ 25 surveyed hotels are fully booked for all seven days versus only three out of 25 for 2019 post CNY. Room rates are also comfortably exceeding that of May 2021 Golden Week which had been the best holiday period since Covid. JW Marriott at Galaxy has room rates at 292% of May 2021 levels, with the Parisian Macao at 199%, Sands Macao at 171%, Sheraton at 145%, the Venetian Macaoat 121% and Wynn Palace at 112%.

Accor has strengthened its presence in Southeast Asia with the launch of Mercure Singapore Tyrwhitt, a newly-rebranded hotel that puts guests in the centre of the city’s heritage district and allows travelers to discover the rich history of Singapore. Mercure Singapore Tyrwhitt is located on Tyrwhitt Road, a few minutes’ walk from Bendemeer MRT Station and is 16km away from Changi Airport. The hotel has 270 rooms including Classic, Twin, Double and Family options along with Balcony rooms featuring a picturesque veranda with a low-slung swing seat. The Mercure Privilege Rooms offer modern interiors and floor to ceiling windows, including options with a private terrace and a Family configuration with two double beds and even a converted loft space. The hotel includes a rooftop pool, fitness center, function rooms, all-day dining restaurant and more. Mercure Singapore Tyrwhitt is the third Mercure hotel in Singapore and Accor’s twenty-eighth property in the Lion City.

Centara Hotels & Resorts is set to make its debut in Japan with the launch of Centara Grand Hotel Osaka, a 33 story tower that is scheduled to open its doors in July 2023. The contemporary five-star hotel soars above the city near Namba, Osaka’s most vibrant entertainment and retail district. The Centara Grand Hotel Osaka features 515 rooms and suites, ranging from 28-60 square meters, comprising Standard, Superior, Deluxe, Deluxe with Bunk Beds and Suite options. Those staying on the executive floors of 26-31 will receive exclusive services at the Club Lounge. There will be a selection of food and beverage options including an alfresco rooftop venue. The Grand Ballroom will measure 351 square meters, divided into two smaller spaces with three other meeting rooms ranging from 26 to 30 square meters. Other amenities include the SPA Cenvaree and a fitness center.

Indian Hotels Company announced the signing of a fourth hotel under the Ginger brand in Kochi, Kerala. The 73-key hotel is located in the central business district at MG Road. With the addition IHCL will now have six hotels across its brands in the city. The hotel is a fully fitted lease. The hotel is owned by Hotel Pearl Dunes Pvt Ltd. The hotel houses an all-day diner – QMIN, offering a variety of global and local favorites, a banquet hall, swimming pool and a fitness center.

Authorities in the Lam Dong province of Vietnam’s Central Highlands region are currently pondering a proposal to build a casino and night market to boost tourism. This is despite all the casinos in the country losing money ever since opening, even the ones that are allowed to have locals gamble. The city is already considered a popular tourist destination. The casino would be developed in the region’s popular Valley of Love tourist hotspot. There are other casino proposals floating around, including one in Ho Chi Minh City that would allow casinos in five-star hotels,open to locals as well as foreigners, with plans sent to the country’s National Assembly for evaluation.

CBRE announced Far North Hotels has acquired Ellis Beachfront Holiday Park with a DA-approved development site in North Queensland in Australia. CBRE brokered the sale on behalf of interstate vendors. The holiday park is located five minutes from the Palm Cove region on the Captain Cook Highway which links Cairns to Port Douglas. Ellis Beach Oceanfront Bungalows Holiday Park has 28 bungalows and cabins, 46 powered caravan sites, 25 camping sites, a beach bar and grill, and guest facilities including a pool and kiosk. The development site is approved for 221 motel, resort and hotel rooms situated behind the holiday park.

Personnel Move

JLL announced Mike Batchelor, who previously held the position of Asia Pacific CEO, will assume the role of Chairman of JLL’s Hotels & Hospitality Group in Asia Pacific. JLL also announced the appointment of Nihat Ercan as CEO, Hotels & Hospitality Group, Asia Pacific. As CEO he will also join the firm’s global Hotels & Hospitality Group leadership team. Nihat will remain based in Singapore. He joined JLL’s Hotels & Hospitality Group in 2020 and most recently led its transactions business as Senior Managing Director and Head of Investment Sales, Asia Pacific.

Alan Woinski
February 14th, 2023 at 7:51 AM EST

Companies: 7 Days Inn, Accor, CBRE Hotels, Centara Hotels & Resorts, Four Points by Sheraton, Ginger, Hampton by Hilton, Hilton Garden Inn, Hilton Hotels & Resorts, Holiday Inn, Holiday Inn Express, ibis, IHG Hotels & Resorts, Jin Jiang Holdings, JLL, JW Marriott Hotels & Resorts, Marina Bay Sands, Marriott International, Melco Resorts & Entertainment, Mercure Hotels, Ritz-Carlton, Sheraton Hotels & Resorts, The Indian Hotels Company Ltd, Wynn Group of Companies

Locations: Australia, Chengdu, China, Guangzhou, Hong Kong, Kerala, Macau, Osaka, Shanghai, Singapore, Vietnam, Xi'an

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