Novotel

STR reported hotel RevPAR in China rose 31.5% the week ended January 14. When compared with the same week in 2019, RevPAR was down -28.1%. The Chinese Ministry of Culture and Tourism announced the country has decided to resume outbound group travel to selected countries including Sri Lanka early next month. The pilot program will take effect on February 6 to […]

STR reported China hotel RevPAR was down -17.7% year over year for the week ended 12/31/22. When compared to the same week in 2019, RevPAR was down -23.6%. Absolute occupancy for the week was 39.8%. A year ago, absolute occupancy was 51.3%. As of Sunday, the terrible hotel news of the past three years is just […]

China’s Foreign Ministry spokeswoman told the media that many foreign nations had responded warmly to the country’s newly relaxed Covid-19 regulations. Some countries were also said to have reacted to Beijing’s decision to ease its own health policies with ‘disproportionate’ and ‘unacceptable’ restrictions. The Chinese government threatened to retaliate after the United States and other nations […]

The DJIA fell 764 points, Nasdaq was down 360, the S&P 500 fell 100 points and the 10 year treasury yield was down .05 to 3.45%. Lodging stocks were lower.  AHT and MCG were down -6%, while VCSA was down -5%, SLNA traded down to a new low. JP Morgan gave their Gaming & Lodging 2023 outlook. JPM said they see more […]

STR said China hotel RevPAR for the week ending December 10, was down -6.4% year over year. When compared with pre-pandemic, hotel RevPAR in China was down -37.4% against the same week in 2019. Absolute occupancy was 50.5%, compared with 49.7% during the comparable week in 2021. Accor announced its list of highly anticipated properties that will open in 2023. […]

Daily Covid cases have nearly tripled in Macau since removing the Covid-zero strategy, reports continue to be published about China’s Covid surge so it is about time Hong Kong makes sure they can stay a step ahead of the rest.  The “amber code” restrictions for arrivals to Hong Kong was removed as of today, abolishing the 0+3 isolation […]

Macau follows what China’s leadership tells them to and now it is confirmed that Zero Covid is dead. Macau’s Secretary for Social Affairs formally announced that Macau is undergoing a ‘gradual reopening’ as authorities realize they can no longer control the outbreak in the community and mainland Chinese policies shift towards a more open approach. The […]

Sri Lanka Tourism outlined key strategies to double the arrivals to 1.5 million and generate an income of over $5 billion highlighting the sector as a major economic driver. Their arrivals target for 2024 is 3 million. For this year they believe they are on track for 800,000 arrivals. To get to their income figure, officials […]

The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. For the sixth straight day, the number of new cases topped 20,000 with a new seven month high today of more than 26,000. Guangdong is once again […]

Chinese authorities signaled a move to ease international travel requirements, just a couple of days after President Xi reiterated his Zero-Covid policy. In a joint notice issued by regulators, the government asked authorities to make it more convenient for multi-national companies’ executives, technicians and their families to travel to China. The notice said all localities […]

Fitch Ratings revised the Maldives’ outlook to Negative from Stable while affirming its Long Term Currency Issuer Default Rating at B-. The outlook revision reflects Fitch’s assessment that tightening global financial conditions are intensifying the Maldives’ external liquidity strains, even though tourism has recovered to pre-pandemic levels. Fitch believes a sharp decline in foreign-exchange buffers, if sustained, could complicate the […]

A new report from international travel industry analysts, the Centre for Aviation, predicts the Asia Pacific region will no longer be the world’s largest travel region by the end of 2022, ceding the title to Europe. They discussed how aviation in the region remains down by 45% compared to pre-pandemic levels while European air travel has recovered to roughly 85% […]