Hotels in China back with corporate travelers

By TIN Media | China Published 6 months ago on 4 April 2020
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BEIJING :

Good news from China continues as STR hotel analyst warns that green shoots are rising slowly. STR figures show that, after some have closed down in the last two months, 87 percent of the hotels in the Mainland of China sample are now open.

According to STR preliminary results, the average hotel occupancy in Mainland China hit an absolute 31.8% of 28 March, up from 7.4% in the first week of February. Additionally, opening rates in key markets across the area were important.

"We're seeing green shoots in hotel occupancy levels, but we must emphasize that these are only early indicators of a recovery that is likely to grow gradually," said Christine Liu, North Asia's regional manager for STR.

"All demand comes from corporate travel, mainly within the same province, and small-scale meetings. In addition, hotels see business quarantined from those travelers after returning from other countries to China, as well as those returning for work to cities.

Regular occupancy in Beijing sat roughly 10 percent for much of March's first week but climbed to 21.6 percent on March 28. On 1 March Shanghai was as low as 11.0 percent but on 28 March hit 28.6 percent.

 

 

 


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