Global Hotel Room Revenue Slumps 5.5% In February As COVID-19 Spreads
Hotel room revenue slumped 5.5% globally in February from a year earlier as the coronavirus outbreak brought the airline industry to a halt and travel bans hurt vacation plans, data from analytics firm STR has shown.
STR, which runs a benchmarking platform for over 68,000 registered chains, groups and individual properties, said that occupancy fell 7.8% across the hotel industry.
Hong Kong And China RevPAR
Revenue per available room (RevPAR) fell 85.9% in Hong Kong in February from a year earlier and 82.2% in mainland China, according to STR's data.