China’s Average ADR Surpassed 2019 Levels During Lunar New Year
- STR said during the seven-day Lunar New Year holiday period, China’s hotel average daily rate surpassed 2019 levels.
- In the recently released China Construction Pipeline Trend Report from Lodging Econometrics, analysts report the country’s total hotel construction pipeline, at the close of the fourth quarter, stands at 3,581 projects/675,074 rooms.
- Morgan Stanley said Macau’s hotel occupancy and daily room rates are showing unprecedented strength in the post-Chinese New Year period with at least two hotels fully booked through February and many others close to capacity.
STR said during the seven-day Lunar New Year holiday period, China’s hotel average daily rate surpassed 2019 levels. Occupancy edged closer to the comparable before eventually surpassing it on day seven. Also different from pre-pandemic normal years, many opted for trips to their hometowns as opposed to international travel. Overall 36 of 43 markets in China saw […]