Dubai

STR gave their 2022 summary, saying among the global regions, Asia was the only one to see a decline in revenue per available room when compared with 2019. There seems to be a different in opinion about how Chinese New Year is going for the Asian region. Japan Today published an article saying Asia travel hotspots are quiet as Chinese tourists stay away, but the article seems to miss the true situation. Dow Jones, on the other hand, published an article saying China’s tourism sector has recovered to pre-pandemic levels with travelers venturing out during the Chinese New Year holidays.

Macau has received 245,000 visitors in the first four days of the Chinese New Year/Spring Festival holiday week. Wyndham Hotels & Resorts announced the signing of The Earth Amritsar, Trademark Collection by Wyndham, its first hotel for the brand in India . Sarovar Hotels and Resorts announced the opening of Shyama Sarovar Portico in the city of Orai, Uttar Pradesh in India.

STR reported China hotel RevPAR rose 6.9% year over year the week ended January 7. RevPAR, when compared to the same week in 2019, was down -39.6%. While the Macao Government Tourism Office is predicting visitor arrivals of just 50,000 a day for Chinese New Year week, hotel room rates across Macau are said to be surging with standard rooms now regularly priced above HK$8,000. Colliers International said they are expecting hotels in the Philippines will complete some 3,900 rooms, a record high for developers , as they anticipate the projected recovery in global travel in 2023.

STR reported China hotel RevPAR for the week ended December 17. Hotel RevPAR was down -1.1% year over year for the week. Japan National Tourism Organization said visitor arrivals rose to close to one million in November. This was the first full month after the country ended their Covid-19 curbs. The Tourism Authority of Thailand is predicting the number of foreign tourists visiting Thailand will be more than 18 million last year.

Data from Tourism Western Australia shows Singapore is now the number one source of foreign visitors, with Singaporeans accounting for 24% of all international arrivals. The Ascott Ltd. has launched Citadines Connect in Lebuh Noordin, Georgetown, Penang , a hotel situated in a two-story pre-war building. Mohegan’s Inspire Entertainment Resort , under development in Incheon, South Korea , signed a management agreement with Hanwha Hotel & Resorts for the operation of five-star hotel towers in the property.

Accor announced its list of highly anticipated properties that will open in 2023 . Marriott International announced it expects to reach 50 hotels in Thailand by mid-2023, including adding an anticipated eight hotels next year. Anantara Veli Maldives Resort reopened on December 1, following nine months of extensive renovations.

STR reported China hotel RevPAR for the week ended December 3. RevPAR was down -2.6% on a year-over-year basis while down -40.2% against the same week in 2019. More reports are coming out about China’s decision to roll back Covid-Zero rules . The latest STR report, commissioned by Arabian Travel Market, conducted at the end of September 2022, suggests the GCC region now has over 170,000 hotel rooms under active development.

STR reported Melbourne, Australia’s hotel performance reached a pandemic era high, according to preliminary October 2022 data from STR. JP Morgan issued a report projecting that airline travel in the Asia Pacific region will hit two-thirds of pre-pandemic levels by the end of the year. Indies Capital Partners announced the acquisition of a 60% stake in PT Swiss-Belhotel International Indonesia and PT Zest Hotels International Indonesia from Ciputra Group Indonesia.

Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. Some 39 buildings of the No.2 Island of the Ocean Flower Island , an artificial archipelago in Danzhou , South China’s Hainan Province developed by China’s debt-ridden Evergrande Group will be repurposed. Vietnam’s second-biggest listed developer, No Va Land , is firing staff and seeking urgent asset sales.

Lodging stocks were down before the Fed decision to raise interest rates by another 75 basis points and conference call but the selling accelerated after, led by the REITs, not surprisingly. Investors did not take the earnings reports from Airbnb, Ashford Hospitality Trust or Xenia Hotels & Resorts very well. Meanwhile STR reported for the week ended 10/29, US hotel RevPAR was up 33.5% year over year.