Tuesday, August 1, 2023

Taylor Swift Concerts Boost More Hotels

  • China hotel industry shows strong rebound: RevPAR up 36.9%, surpassing pre-pandemic levels by 5.4%.
  • Hong Kong hotels attract investors with discounts up to 30%, driven by cash-rich buyers seeking business district properties.
  • Vietnam’s tourism recovery gains momentum: July international arrivals tripled compared to last year, reaching 79% of 2019 levels.

STR reported that China hotel RevPAR was up 36.9% in the week ending July 22nd. That was up against a drop of -15.7% in the year-ago week. Versus the week in 2019, RevPAR was up 5.4%. The South China Morning Post published an article on how cash-rich investors are looking to buy hotels in Hong Kong, taking advantage […]