Thursday, August 24, 2023

Macau’s Five-Star Hotels Are Back to 2019 Rates

  • China’s hotel RevPAR rose 44.3% in a week, compared to a strong 89.7% rise a year ago. RevPAR also increased by 12.3% compared to 2019.
  • Vietnam’s flexible economy attracts investors despite short-term challenges. M&A deals increased, supported by lowered interest rates, with a positive medium-term outlook.
  • Macao’s daily visitor arrivals exceeded expectations in August, reaching 139,000 in a day. Hotel occupancy rates rebounded, hosting numerous MICE events, and a new Andaz hotel is set to open.

STR reported China hotel data for the week ended August 19th. Hotel RevPAR in China rose 44.3% for the week. It was up against a tough 89.7% rise a year ago. Compared with the same week in 2019, China hotel RevPAR was up 12.3%. Savills Vietnam issued a report saying Vietnam still has been one of the destinations drawing great […]