Skift Take
All eyes have been on China in terms of its travel recovery. While China's hotel recovery faces a major setback now with a surge of new Covid-19 cases, the country is still likely to make a faster rebound than other parts of the world.
The hotel industry’s geographic revenue bright spot during the pandemic is even grappling with second surge setbacks.
For the last two weeks, China’s hotel industry recovery veered majorly off course from a path that had companies like Marriott predicting a full recovery there by some point later this year. Revenue per room — the hotel industry's key performance metric — was down roughly 40 percent in China for each of the first two full weeks of 2021, according to STR.
It was only down by nearly 4 percent for the week ending January 2. The sharp decline is due to flare-ups of the virus in provinces around Beijing and further north. The Chinese government’s ensuing lockdowns cancelled hotel revenue drivers like weddings as well as
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