Investors and operators in Beijing’s hotel industry will take little pleasure in the first half-year 2007 research figures released by Smith’s Travel Research. Average occupancy in Beijing hotels between January and June dropped to 66.8 per cent, from 69.7 per cent in the same 2006 period. This decline is most likely attributable to a swathe of new hotel openings in the city in recent months adding plentiful new room supply ahead of the 2008 Olympic Games.
But with myriad new openings scheduled in the coming months – including Mandarin Oriental (in Rem Koolhaas’ extraordinary new CCTV HQ building); Aloft; Conrad; Banyan Tree; a joint JW Marriott-Ritz-Carlton development, Sofitel Wanda; Park Hyatt; Marco Polo; Langham Place Hotel; Four Seasons; Millennium Beijing, and a second Westin – hoteliers will recoil at the average daily rate figure for the first half of 2007, which remained almost static, rising slightly to EUR80.36, from EUR80.15 in 2006.
Significantly, average revenue per room, a key industry figure for measuring a hotel’s performance, actually dropped – to EUR53.68 in 2007, from EUR55.87 in 2006. These figures suggest that the Chinese capital’s rapidly saturating hotel market is in for a testing time, save for the high rates and occupancies during the 17-day Olympic Games next August.
Hong Kong’s buoyant hospitality economy, meanwhile, experienced a slight drop in first-half 2007 average occupancy – from to 81.38 per cent, from 2006’s 83.5 per cent – but average daily rates jumped by 9.2 per cent, to EUR128.17, from EUR117.41. Average revenue per room rose 6.9 per cent to EUR104.80 (almost double the RevPar in Beijing) from EUR98.02.
Last update : Saturday, 04 August 2007
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