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Asia-Pacific
China Covid Infections Hit 3-Month High
China reported 2,181 new Covid cases on Saturday , with infections surging to a three month high. Real Commercial said Sydney hotel occupancies are beginning to slip but hoteliers are still charging higher room rates. Tuan Sing Holdings is close to announcing plans to redevelop its 550 room Grand Hyatt Hotel in Melbourne’s Collins Street into a major mixed-use development. -
Asia-Pacific
Australia Hotel Occupancy Dips Between June and July
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. -
Asia-Pacific
Waning Covid Spurs Some YoY Growth in China
STR said things really improved in China following the belief that the Covid outbreaks were over. Hotel RevPAR for the week ended July 30 th in China was up 8.5% year over year while down only -10.3% versus the same week in 2019. Travelers from Japan, Taiwan and Macau will be temporarily allowed to enter South Korea without a visa this month. Baring Private Equity Asia announced its affiliated real estate funds completed the acquisition of the Sydney Hilton hotel for A$530 million.