China’s Travel Rebound May Speed Up

• 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%.
• As of Sunday, the terrible hotel news of the past three years is just that, in the past as borders were reopened in China.
• The Philippines and China signed a new comprehensive tourism agreement that aims to strengthen mutual development in areas such as hotels, resorts, cruise ships, ports, tourism products and other related industries.

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 […]