OYO Hotels

STR’s global update as of November 11, 2023 showed 79% of markets with growth in RevPAR compared to 2019. Different from the previous update, more markets outside of Europe have taken the top positions in recovery as winter approaches in the Northern Hemisphere. Among countries with 50,000 rooms, the United Arab Emirates, South Korea, Singapore, […]

STR reported China lodging data for the week ended November 11th. China hotel RevPAR was up 50% for the week, year over year, up against a +17.5% comp in the year ago. When compared with the same week in 2019, RevPAR was down -11.7%. IHG Hotels & Resorts and Asset World Corp Public Company Limited […]

Samaras Construction and Developments unveiled plans for a high-end hotel in Adelaide, Australia, replacing the current Wilson car parking facility at 15-19 Halifax Street. Charcoal brickwork, aged brass panels, and double-glazed windows will characterize the building’s façade. Guests can expect 175 luxurious rooms with a lavish lobby on the ground floor, along with a hotel-style bar and a […]

STR reported Chinese hotel data for the week ended October 7. Hotel RevPAR in China was up 77.2% year over year, driven by Golden Week. It was up against an easy -16.5% comp. When compared with 2019, RevPAR for the week was up 53.2%. CoStar/STR also said Japan posted an elevated average daily rate of […]

Trip.com Group said Chinese tourists flocked to the Middle East during the eight-day Golden Week holiday. After rolling out free visas and increasing flight capacity, Dubai was a big beneficiary. Trip.com told Bloomberg that year-on-year visitation to the region climbed three digits, again a comparison we don’t understand why it gets so much traction since the Zero Covid policy from China had 2021 and 2022 not even worth comparing to. Trip.com also […]

Trip.com said China’s National Day Holiday had them recording a significant surge in outbound travel by over eight times compared with the same period in 2022. We understand the comparison, but outbound and inbound travel during 2021 and 2022 in China was non-existent.  Younger Chinese travelers, born post-90s, remained the dominant group, accounting for nearly 30% of outbound tourists, while […]

The GBTA Business Travel Outlook shows Asia Pacific is forecast for significant growth, with travel spending gaining 41% to US$567 billion this year, rising to $800 billion by 2027. China’s reopening will be a big catalyst for the growth, while a solid rebound is also anticipated for Japan, South Korea, and Australia, along with the return of international business […]

GGRAsia said that 22 hotels associated with Macau casino complexes have their standard rooms sold out for at least three nights of the upcoming Golden Week. That was as of last Thursday. The rooms that are still being listed as available in some properties have hefty room prices of around US$400 a night. Samhi Hotels […]

The Philippines Dept. of Tourism said foreign arrivals reached 3.3 million in the first eight months of 2023, approaching the government’s goal of 4.8 million arrivals for the full year. South Korea remains the top inbound tourist source, with over 940,000 visitor arrivals recorded in the eight months. The US was second with 17.31% of arrivals, or 632,687. […]

The DJIA rose 184 points, Nasdaq was up another 215, the S&P 500 rose 48 points, and the 10-year treasury yield was down .13 to 4.20%. Lodging stocks were modestly higher, but the big mover was SOHO dropping -11%. VCSA traded down to another new all-time low. Either the reporters at Dow Jones are bored, or they didn’t get any upgrades the last […]

STR reported Chinese hotel data for the week ending August 12th. Hotel RevPAR in China was up 37%, up against a 107.7% comp a year ago. Compared to the week in 2019, RevPAR was still up 16.9%. If you are one of those wondering where all the Chinese travelers are, in July, most of them apparently went […]

VN Express said the hospitality market in Ho Chi Minh City remained gloomy in the first half of the year due to a slow recovery rate of international tourist arrivals. According to Savills Vietnam, the hotel occupancy rates in the first half of 2023 stood at 64%, 92% of pre-pandemic levels. HCMC welcomed 18 million visitors. In the second quarter, occupancy […]