STR data indicates China's hotel market continues to struggle with a 3.1% RevPAR decline despite facing an easy comparison to last year's significant 21.1% drop.
Richie Karaburun, clinical associate professor at NYU, is worried. But the hospitality industry continues growth with new hotels, acquisitions, and expansions across the US and Europe despite tariff concerns.
China rates soften while demand rises. Hotel groups expand across Asia-Pacific with new properties in India, China, Australia and Fiji amid mixed tourism trends.
Vietnam’s tourism sector saw a 41% year-over-year increase with over 14.1 million international visitors in the first 10 months of 2024, driven largely by air travel and arrivals from Asian markets.
Global hotel investments are booming, with a 13% RevPAR increase, high cross-border deals, and $42.1B in transactions, driven by strong demand for luxury and select-service hotels.