Chengdu Covid Fears Spurs Lock Down

• STR reported China hotel RevPAR was up 48.2% year over year against very easy comps. When compared with this week in 2019, RevPAR was down -20.4%. Absolute occupancy in China last week was 59.1% versus 43.1% in the same week last year.
• Chengdu reported 1,000 Covid cases and the Southwestern city in China has pretty much been sealed off. About 70% of the flights have been suspended to and from the city.
• Hong Kong is targeting an end to hotel quarantine in November, ahead of a summit of global bankers and an international rugby competition.

STR reported China hotel RevPAR was up 48.2% year over year against very easy comps. When compared with this week in 2019, RevPAR was down -20.4%. Absolute occupancy in China last week was 59.1% versus 43.1% in the same week last year. It never is good for the hotel space when a city of 21 million […]