China Is First Country in the World to See Year-Over-Year Hotel Revenue Growth During Pandemic
Skift Take
A holiday with plenty of reasons to celebrate: Golden Week reaffirmed projections that hotels in China are on track to recover to pre-pandemic revenue levels by next year.
Occupancy will grow first, then daily rates, and finally revenue for a hotel industry recovery, analyst thinking goes when it comes to digging out of a downturn.
China just achieved all three.
Occupancy, daily rates, and revenue per available room — the hotel industry’s key performance metric — were all up the week ending October 10, according to STR. The timespan included the Golden Week national holiday, where many travelers were expected to vacation domestically and book stays in hotels.
Occupancy was up nearly 3 percent, daily rates were up by a little more than 10 percent, and revenue per room was also up more than 13 percent — the first time the key metric saw annual growth this year. China is also the first country to see year-over-year hotel revenue growth since the pandemic began, accord
