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Asia-Pacific
China RevPAR Up YOY
STR reported China hotel RevPAR for the week ended September 3 rd . Year over year, hotel RevPAR was up 19.3%, still up against easier year-over-year comps. The DuGhassan Aboud Group has acquired Sydney, Australia’s Rydges Sydney Harbour Hotel for approximately $100 million. Radisson Hotel Group announced the continued expansion of their brand footprint with Radisson Resort & Suites Phuket . -
North America
Short-Term Rental Demand Is Up
The DJIA ended the day down 280 points while Nasdaq was down 67, the S&P 500 fell 31 points and the 10 year treasury yield was up .02 to 3.13%. Lodging stocks were lower. MCG fell -8% today and hit a new all time low. SOND was up 5%. STR said U.S. hotel RevPAR for the week ending August 27 th was up 18.2%. RevPAR versus the same week in 2019 was up 12.1%. Speaking during a session at the Hotel Data Conference , AirDNA Director of Product Max Bernstein said as of June 2022, demand for short-term rentals is up 21% indexed to 2019 -
Asia-Pacific
Singapore’s Changi Remains the Busiest in Asia
China reported 2,312 new Covid infections nationwide today , the first time in more than three months that cases topped 2,000 for three consecutive days. Singapore’s Changi Airport emerged as the busiest airport in Asia in the three months to June 30, 2022, recording more than double the number of passenger movements than its nearest rival. The newly built 229 keys midscale Mercure Kuala Lumpur Glenmarie managed by Accor has officially opened in Shah Alam, Selangor in Malaysia.