STR monitors rise in hotel bookings in China
SINGAPORE, May 18, 2020: STR reports that China’s hotel occupancy rate reached 40% from May 6-10 due to the partial resumption of business travel.
In Beijing, occupancy rates rose after the government eased restrictions and the five-day Labor Day holiday generated a surge in hotel bookings.
But STR warned there was evidence that in cities where second wave cases were reported, there was an almost immediate drop in hotel occupancy as demand plummeted, suggesting that countries still need to maintain a high degree of vigilance.
Beijing’s Central Business District and Beijing’s downtown Financial Street submarkets saw demand almost triple from May 6 to 10 compared to weekdays in April.
STR data for major Chinese cities shows business and leisure travel is picking up. However, recent government announcements on May 8 that events could resume have subsequently spurred inquiries in Shanghai, leading to postponed events reconsidering new dates.
Every week, STR analysts take an in-depth look at the performance of hotels in China.
The most recent six-minute video is linked below, available in English and Chinese.
All of STR’s COVID-19 analyzes are available here.