Marriott Targets 500 Hotels in India by 2030
Skift Take
Marriott already manages 159 hotels in the country with another 137 signed in India. Plus, more deal and development news.
STR/CoStar reported China hotel data for the week ended September 6th. China hotel RevPAR was down 12.7% year-over-year, up against a comp of a decline of 6% in the year-ago week. The decline last week was led by an occupancy decline of 11.6% as ADR was only down 1.2% for the week.
CoStar said Sydney, Australia, posted its highest August average daily rate and RevPAR on record, according to preliminary data. CoStar said occupancy in August was up 8.7% to 84.4% in Sydney, while ADR was up 14.9% to A$285.71, resulting in a RevPAR jump of 24.9% to A$241.18. This was the highest August occupancy since 2018. The night before the Sydney Marathon, August 30, occupancy was at 95.1%, ADR was A$414.96, and RevPAR was A$394.76. Early in the month, on August 2, occupancy hit 92.8% on ADR of A$390.18 due to the last game of the British and Irish Lions Tour. Overall for the month, occupancy was above 70% mark every night but August 24.
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