Thursday, November 10, 2022
Asia-Pacific

India Premium Hotel Inventory Demand to Increase

  • STR reported China hotel RevPAR for the week ended 11/5 was up 4.4% year over year.
  • China‚Äôs Covid cases continue to surge with 8,824 new domestic cases reported on Wednesday. The state-run Xinhua news agency said authorities need to take a more targeted approach to tackling Covid outbreaks.
  • Ratings agency Icra said they expect premium hotel inventory in India to increase 3.5% to 4% in the current fiscal year with an addition of around 15,500 rooms amid a recovery in demand.

STR reported China hotel RevPAR for the week ended 11/5 was up 4.4% year over year. When compared to a similar week in 2019, RevPAR was down -44.7% which tells a better story of what is going on there. Year over year, absolute occupancy for this past week was 49.6% while the comp week in 2021 absolute occupancy […]