Marina Bay Sands

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.

According to  Lodging Econometrics’ Q4 Construction Pipeline Trend Report for the Asia Pacific region ,  excluding China , the region’s total construction pipeline stands at 1,903 projects/404,222 rooms, up 5% by projects and 2% by rooms YOY. South Korea’s government will remove its entry restrictions for short-term travelers from China . Singapore property tycoon Koh Wee Meng , via his entity JK Global Wealth , made an offer of 12 cents a share for the rest of developer Global Dragon .

On Thursday, China’s new top leadership body reaffirmed Beijing’s “dynamic zero” Covid-19 policy in their first meeting since the Communist Party’s Congress last month. Chinese hotel operator Atour raised $52 million in an initial public offering in the United States. Indian Hotels Company said they plan to emerge as the most iconic and most profitable company in South Asia by 2025 and that plan is on track.

While  Golden Week was a bit tarnished for hoteliers in China , it created a breeding ground for Covid cases and that was not a disappointment. The number of Adelaide hotel rooms filled in one night  hit a new high last month. For Macau , a Covid boom means new quarantine and other measures, bringing down the mood after there were 163,000 mainland visitors entering the city during the seven days of Golden Week.

STR reported Sydney, Australia hotel occupancy dipped in July from June. Occupancy in July 2022 was 65.8% while ADR was A$239.96 resulting in RevPAR of A$157.80. The Business Times reported business has picked up so much in Singapore that hotels are frantically looking for employees as staffing levels have yet to match the tourism pickup. Choice Hotels Asia Pacific said corporate travel has returned to a new normal with guests seeking value for money as work trips merge into leisure.