Taylor Swift Concerts Boost More Hotels
Skift Take
- China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%.
- Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties.
- Vietnam's tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels.
STR reported that China hotel RevPAR was up 36.9% in the week ending July 22nd. That was up against a drop of -15.7% in the year-ago week. Versus the week in 2019, RevPAR was up 5.4%. The South China Morning Post published an article on how cash-rich investors are looking to buy hotels in Hong Kong, taking advantage of discounts of as much as 30%. Hotels, especially those near the city's business districts, are high on investors' priority after retail amid limited supply over the next few years, according to Colliers HK. Some hotel owners are looking to offload some assets to lower their interest rate burden as the HK Monetary Authority continues to raise interest rates, coupled with tourist arrivals continuing to be on the upward trek. HK visitor arrivals reached nearly 13 million in the first half of the year, on track for 30 million this year. That is only -37% of the same period in 2019. According to the article, the latest deal in HK is for De Fenwick Service Apartment, ab
