Thailand

Macau follows what China’s leadership tells them to and now it is confirmed that Zero Covid is dead. Macau’s Secretary for Social Affairs formally announced that Macau is undergoing a ‘gradual reopening’ as authorities realize they can no longer control the outbreak in the community and mainland Chinese policies shift towards a more open approach. The […]

STR reported China hotel RevPAR for the week ended November 26 was up 2.2% year over year. When compared with the same week in 2019, hotel RevPAR was down -33%. Absolute occupancy for hotels in China for the week was 53.7%, up from 50% during the comparable week in 2021. Macau hotels’ had average occupancy in October of 41.8%, up 4.2 […]

Pan Pacific Hotels Group announced it will double its serviced suites portfolio in 2023 with openings in key gateway cities such as Bangkok, Hanoi, Jakarta, Kuala Lumpur and Nairobi. Its developments are under parent company UOL Group Limited. The Group’s latest wave of expansion will increase its global development portfolio by 50%, adding more than 4,000 keys by 2023. Parkroyal Suites Bangkoklaunched on […]

STR reported China hotel RevPAR for the week ended 11/19. RevPAR was up 9.8% year over year in China while down -37.6% versus the same week in 2019. Absolute occupancy was 53.3% for the week, up from 46.6% during the comp week last year. CapitaLand’s Ascott Limited unveiled its refreshed Somerset brand. This is the second largest brand in Ascott’s Global […]

The supposed reopening trade for China stocks hit a speed bump as the realization set in with investors that Covid cases are not going down, in fact they continue to go up. For the sixth straight day, the number of new cases topped 20,000 with a new seven month high today of more than 26,000. Guangdong is once again […]

STR reported China hotel RevPAR for the week ended 11/12 was up 17.5% year over year. While that sounds impressive given the surge in Covid cases, when compared with the same week in 2019, pre-pandemic, RevPAR for hotels in China was down -40.5%. Absolute occupancy last week was 51.4% versus absolute occupancy a year ago of 43.4%. China […]

STR reported Melbourne, Australia’s hotel performance reached a pandemic era high, according to preliminary October 2022 data from STR. Occupancy for the month was 69.9%, ADR was A$232.07 and RevPAR was A$162.21. The market’s ADR level was the highest for any month on record while occupancy and RevPAR were the highest since February 2020 and November 2019 respectively. […]

Bloomberg published an article suggesting Fosun International Ltd. is exploring the potential for sales of most of the company’s divisions, seeking capital to repay debt. Bloomberg said the company told advisors its domestic food and beverage business is available for potential investors or buyers, and is considering strategic options for its investment in electric vehicle […]

On Thursday, China’s new top leadership body reaffirmed Beijing’s “dynamic zero” Covid-19 policy in their first meeting since the Communist Party’s Congress last month. The Politburo Standing Committee said China’s epidemic prevention measures must not be relaxed. The meeting was chaired by President Xi Jinping. On Friday, Chinese regulators moved to relax Zero-Covid policies, changing the seven […]

Goldman Sachs said the Chinese government still needs to keep its Zero-Covid policy until probably the April-June quarter. This follows the commentary over the weekend, once again, that the government will maintain the policy even as global stock markets buy China-related stocks in hopes of a reopening soon. China reported its highest number of Covid-19 infections in six months on […]

Hong Kong has continued to loosen Covid restrictions, now targeting eventgoers. The New York Times gave them publicity on this, telling them no sweat if you test positive for Covid in Hong Kong. Things like bankers being allowed to leave on a private jet if they test positive, tech executives dining in private rooms and rugby watchers […]

STR reported China hotel RevPAR the week ended October 29 was down -17.1% year over year. When up against the similar week in 2019, hotel RevPAR fell -44.8%. China hotel absolute occupancy for the week was 48.8% compared with 55.2% during the same week in 2021. The South China Morning Post published an article on medical tourism being ramped up […]