STR: China hotel rates higher than 2019 during Lunar New Year

The country’s ADR reached CNY 766.95 during this year’s holiday season (January 31 to February 6).

BEIJING — Mainland China’s hotel industry topped its Lunar New Year-like average daily rate (ADR) in 2019, even with significantly lower occupancy, according to preliminary data from STR.

The country’s ADR reached CNY766.95 during this year’s holiday period (January 31-February 6), 9.6% higher than the pre-pandemic comparable of the festival period in 2019 (699. CNY47).

A stronger rally in ADR is in line with our expectations for the Lunar New Year period this year, with headline rates driven by the upper classes,” noted Christine Liu, STR’s regional director for North Asia. “Historically, the Lunar New Year has lowered demand in Tier 1 markets, with most travelers visiting family or vacationing in suburban or rural areas. This year is obviously unique with the Beijing Olympics and continued COVID restrictions across the country.”

Appointment

Occupation

ADR

RevPAR

January 31-February 6, 2022

31.6%

CNY766.95

CNY242.46

February 11-17, 2021

29.7%

CNY635.55

CNY188.60

February 4-10, 2019

58.0%

CNY699.47

CNY405.83

On Wednesday, February 2, the market’s ADR peaked at CNY 830.21. Daily occupancy in the market hovered in the 30% range for most of the holiday period, then hit 36.6% on Friday February 4th. This was up from the comparable day in 2021 (34.5%) but significantly below 2019 (71.4%).

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