China Continues Outbound Tour Suspensions
- STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year.
- China’s Ministry of Culture and Tourism announced it would continue to suspend outbound tours by mainland travel agencies.
- In the recent China Construction Pipeline Trend Report from Lodging Econometrics, LE analysts report that China’s total hotel construction pipeline, at the close of Q3 2022, stands at 3,604 projects/684,288 rooms.
STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. While that sounds impressive given the surge in Covid cases, when compared with the same week in 2019, pre-pandemic, RevPAR for hotels in China was down -40.5%. Absolute occupancy last week was 51.4% versus absolute occupancy a year ago of 43.4%. China […]