The latest hotel industry analysis

Entering 2021, the occupancy rate of the entire Mainland China hotel market has recovered significantly as far back as mid-March. As a key business travel and seaside leisure resort market in the northern region, the pace of demand recovery in Qingdao’s hotel market basically keeps pace with the average value of Mainland China.

As Thailand battles a third wave of COVID-19, most markets were stuck at single-digit hotel occupancy over the final days of April, except for Pattaya and Bangkok.

Before that, areas such as Huahin/Cha Am and Pattaya, which are known as drive-to markets from Bangkok, showed expected and notable spikes on Saturdays ahead of Songkran.

Hotel competitive sets, commonly known as “comp sets,” are a core element of STR’s performance benchmarking program. Without a comp set, and the marketplace intel that comes along with it, you’re left guessing as to where you can improve the performance of your property or portfolio.

Compared with its initial lockdown of 2020, Singapore continues to operate with lessened pandemic restrictions: face masks, F&B limitations, tracing, and little travel. There is hope the country will open further in Q3, as 25% of the population has received at least one dose of the vaccine. Continued, heavy financial support, particularly toward the travel and tourism sector, also adds optimism for an improved Q3.

One of Thailand’s most important celebrations each year, Songkran provided a modest impact on hotel performance during the festive period in 2021.

Spring Break 2021 didn’t just dive in, it made a cannonball-sized splash for Florida hotels and other U.S. destinations.

One of the largest global celebrations each year is, undoubtably, Chinese New Year. Although the celebration this year (11-17 February 2021) felt different for the country, there was a noticeable impact around hotel performance.

Rather than compare with performance during 2020 Chinese New Year dates, which was significantly lower because of the early stages of the COVID-19 pandemic, STR compared the festive periods of 2021 and 2019. 

India hotels achieved a 50% occupancy level in February, which was the first time the country eclipsed that monthly mark since the start of the pandemic.

Indonesia finished 2020 in similar shape as its regional peers. Domestic demand was strong enough to lift hotel occupancy from pandemic low points but not sufficient to overcome the void in international travel. As Indonesia moves through the early part of 2021, the impact from lost international demand is most obvious in Bali, which continues to trail the country’s regional markets in the recovery process.

The 36th America’s cup, originally scheduled to start on 6 March 2021, was delayed a few days because of lockdown in measures in Auckland. Fortunately for hoteliers, a lift in demand was right on time and helped push the market’s daily occupancy to its highest level for this early portion of 2021.     

Amid the lockdown, the market’s daily occupancy levels were below 50% for the period of 28 February-8 March. That included a low of 41.8% on 2 March.