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Economy, Business

COVID-19 webinar summary: 5 key points on Asia Pacific hotel performance, 17 December

Source: https://str.com/data-insights-blog/covid-19-webinar-summary-5-key-points-asia-pacific-hotel-performance-17-december

Demand gradually improving in Mainland China

Mainland China’s worst year-over-year demand decline came in February 2020 (-79.2%). Since that point, demand comparisons in the market have gradually improved and even increased 2.3% in September 2020.

Lower-end hotels lead recovery in Mainland China

Due to continuous corporate demand growth, the Midscale/Economy class segment has been leading recovery in the market and posted the highest occupancy level among the classes in October (71.7%) and November (72.5%).

The Luxury/Upper Upscale classes have been most affected during the pandemic and reported the lowest occupancy levels in October and November. Upper Upscale saw 57.2% and 56.0% occupancy levels in October and November, respectively. Luxury hotels reported 61.7% and 57.8% occupancy levels in during the same months.

Multiple waves in Japan

Despite different waves of virus outbreaks, occupancy in Japan has been continuously improving thanks in part to the government campaign “Go to Travel.” However, as the voucher campaign removed Osaka and Sapporo, the market saw occupancy fall back.

Philippines: Supply Development Update

STR’s AM:PM analysis tool provides understanding of the total supply and development situation in the Philippines.

Australia’s occupancy on the books

Australia’s regional destinations led the earliest stage of recovery in the country. According to STR’s Forward STAR data, this trend will continue with Saturday night continuing to be the most popular for bookings. Capital cities’ occupancy on the books sat behind as of 16 November (for the next 90 days) due to the continued lack of corporate demand.

Occupancy-on-the-books intelligence will help you to understand recovery and provide much-needed context. Those insights can be accessed for free when you submit your data. If you are interested, please email sales@str.com.

To learn more about the data behind this article and what STR has to offer, visit https://str.com/.

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Data is changing the speed of business. Investors, Corporations, and Governments are buying new, differentiated data to gain visibility make better decisions. Don't fall behind. Let us help.

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Placer.ai provides retailers with actionable location-based insights into their audience and competition. With unprecedented visibility into humanity-in-action, every retailer can be brilliant at running their business.

Retailers make critical decisions every day whilst in the dark. They do not have answers to seemingly simple questions: Who visits my store? Where do they live, or work? What other locations do they frequent? What’s my churn rate? Where do those lost customers go? What are my competitors up to? And ultimately, how should I deploy my limited resources to grow my business?

Placer.ai provides instant access to location insights derived from the foot traffic of millions of consumers, delivering visibility into offline behavior. We shed light into churn, trade areas, untapped audiences, out-of-store behavior, and competitive benchmarking.