The Asia-Pacific hospitality sector is on the up in the first few months of 2023 with demand leading to record hotel occupancy rates and ongoing travel recovery due to China’s recent reopening, according to travel tech company Amadeus.
New Amadeus data shows China is leading the charge with hotel occupancy rates in the first quarter of 2023 outpacing pre-pandemic levels by five per cent on Q1 2019.
Australia and New Zealand have the highest hotel occupancy level in APAC for Q1, trending up from 64.5 per cent in January 2023 to 76.5 per cent in March 2023.
Australian hotel sales hit $2.14 billion in 2022, thanks to the recovery in hotel occupancy levels and strong growth in Average Daily Rates.
For cities, hotel occupancy levels in major APAC markets improved throughout Q1 2023.
Notably, major markets experiencing the highest hotel occupancies in Q1 are Tokyo, Hong Kong, Seoul, Shanghai and Beijing, with rates higher than 70 per cent during the Easter week from 7–10 April 2023.
Tokyo also experienced growth during the cherry blossom season from mid-March to April 2023 as hotel occupancy rates reached more than 80 per cent and exceeded records.
Additionally, Sydney hotels averaged 85 per cent occupancy from February to March 2023.
Singapore hotels outperformed prior record highs in 2019 by up to three per cent in February and March 2023, while Seoul hotel occupancy from January to March 2023 was seven per cent higher than 2019 performance for the same time period.
Amadeus Head of Commercial, Asia Pacific Hospitality Maria Taylor said: “We are beyond thrilled by the hospitality resurgence that is currently taking place across Asia Pacific.”
“This is a hopeful sign that APAC-based hoteliers may expect a substantial rebound in the long run as travel has picked up its pace, both domestically and internationally.”
Find out more at amadeus.com
