UAE

STR reported China hotel RevPAR for the week ended December 3. RevPAR was down -2.6% on a year-over-year basis while down -40.2% against the same week in 2019. More reports are coming out about China’s decision to roll back Covid-Zero rules . The latest STR report, commissioned by Arabian Travel Market, conducted at the end of September 2022, suggests the GCC region now has over 170,000 hotel rooms under active development.

Truist gave their observations on the latest forward-looking booking and pricing trends for US hotels and checks with contacts. STR’s global “bubble chart” update through November 19, 2022 showed the strongest performance of the year thus far. The U.S. Travel Association’s latest biannual travel forecast shows a downgrade in international inbound travel for the remainder of this year and for 2023.