The upscale chain scale hit peak project counts in the third quarter and accounts for 22% of projects and 28% of the rooms in China’s hotel construction pipeline.
The “Brand + Destination” strategy in Greater China is expected to capture robust travel demand by matching destinations with brand debuts and entries
Greater China improved the most in the quarter with RevPAR 23% below 2019, 30 percentage points better than a quarter ago.
MGM China reported revenue of HKD686.6 million for third-quarter 2022, down 69.5% year-on-year.
Bookings growth will slow in the fourth quarter.
Global RevPAR grew 12% from last year.
Accor’s third-quarter average pricing was 23 percent above 2019 levels.
While these brands have the leverage of a well-known name, they will still have to work out the kinks of their new products.
Key Words: Four Seasons, Ritz Carlton, Aman, Marriott, luxury hotel
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