Chinese hotels recovering much better than the rest of the world
Coronavirus pandemic decimated global hospitality industry worldwide, but the speed of post-COVID-19 hotel performance recovery apparently depends on the location.
Data from hotel research firm STR showed that, from April to November, China’s hotel performance was recovering much better than the rest of the world.
The weekly occupancy rate of the hotels in China was 61.7% as of the end of November, followed by Middle East (51%), United States (35.7%) and Central & South America (32.3%).
China’s hotel occupancy experienced some ups and downs in July, September and October, but it has generally been on the rise since February.
Performance patterns varied even more widely across the southern hemisphere. Central and South America have yet to mount a comeback, while Africa and Oceania are stuck firmly in the plateau phase of things.
For most of the Asia Pacific region, the story of recovery depends on how much domestic demand a given country is capable of driving. Tourist-dependent countries such as Cambodia and Laos have struggled to get occupancy off the ground. October occupancy failed to reach 20% in both markets.