New data from WTTC shows the UK’s Travel & Tourism sector is recovering, with the country’s GDP predicted to rise to £192 billion.
China’s hotel construction pipeline closes 2021 at record high
China’s total hotel construction pipeline at the end of the fourth quarter was up 9% by projects and rooms year-over-year.
Omicron travel restrictions discourage Europeans from travelling
Fragmented and inconsistent border restrictions in response to the Omicron variant impede consumer travel decisions.
U.S. hotel results for week ending 5 February
U.S. weekly hotel occupancy eclipsed 50% for the first time in more than a month, but the index to 2019 dipped from the week prior.
APAC hotel construction pipeline ends 2021 with record highs
Asia Pacific’s total construction pipeline, excluding China, ended 2021 with Project counts up 5% year-over-year.
APAC hospitality industry update – Week Ending 4 February 2022
Shanghai Land Group acquired Hyatt on the Bund, Shanghai for RMB4.5 Billion.
U.S. tourism recovery projected to exceed pre-pandemic Levels
WTTC research projects sector’s GDP contributions could reach $2 trillion, a 6.2% increase from 2019.
Latin America’s hotel construction pipeline
The region’s pipeline experienced an 11% decline in projects and a 7% decrease in rooms, year-over-year in Q4.
Miami and Dubai led the world in hotel profit recovery in 2021
Miami’s GOPPAR beat 2019 levels by 14 percentage points, while Dubai reached 95% of its pre-pandemic comparable.
Asia Pacific hospitality industry update
Key updates in the APAC hospitality industry in January 2022.
