The Philippines and Melbourne Set Records

• STR reported China hotel RevPAR rose 6.9% year over year the week ended January 7. RevPAR, when compared to the same week in 2019, was down -39.6%.
• While the Macao Government Tourism Office is predicting visitor arrivals of just 50,000 a day for Chinese New Year week, hotel room rates across Macau are said to be surging with standard rooms now regularly priced above HK$8,000.
• Colliers International said they are expecting hotels in the Philippines will complete some 3,900 rooms, a record high for developers, as they anticipate the projected recovery in global travel in 2023.

STR reported China hotel RevPAR rose 6.9% year over year the week ended January 7. RevPAR, when compared to the same week in 2019, was down -39.6%. The results should start to change with the next report due to the removal of most of the restrictions, offset by what is still being reported by some media […]