Latest figures from specialist hospitality industry analysts, STR shows some noticeable growth in Chinese hotel RevPAR over past few weeks as the country starts to recover from the coronavirus outbreak.
Regional cities have been coming back strongly in particular both in terms of RevPAR and occupancy. Zhengzhou’s hotel occupancy rates, according to STR, have gone from 25% to 60% in just six weeks.
Of the larger tier one cities, Shenzhen is leading the way for recovery.
STR says it is the midscale and economy class hotels driving the recovery.
Despite the upturn in recent weeks, there is still a hefty 61.2% drop in RevPAR overall for the year to the end of April and occupancy down 52.1% when year-on-year figures for China hotel occupancy are compared, according to STR. When looking at April performance, the resort area of Sanya was the only market in China to post a positive year-over-year percentage change in ADR.
General growth trends, easing of restrictions and the meeting of the Beijing National Congress are three of the factors, picked out by STR, that have been driving the recovery over the past week.