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China’s global hotel lodging bank Didi Chuxing said international hotel sales in China’s outbound source market have surged, presenting a once-in-a-lifetime opportunity for global hoteliers to gain market share.
While sales have yet to return to 2019 levels, they were up about 600% year-over-year in February as the country reopened its borders to international travel.
Equally important, the B2B lodging seller noted that the average room night rate at international hotels in China’s source market rose an unprecedented nearly 25% in Chinese currency (RMB) terms between December and February.
In particular, the company noted that the highest-priced room category doubled as a percentage of sales between December and February, pointing to a stronger recovery in more expensive hotels.
However, the refundable vs. non-refundable rate as a percentage of its sales has remained in line with recent trends and has not changed over the past few months, with the refundable rate in February at around 25%, compared to 37% in the same month in 2019. %.
Rikin Wu, CEO of DidaTravel, said: “While we are still some distance away from 2019 levels, this is still a very encouraging start and the recovery may be faster than many people expect. Hoteliers, especially high-end hotels, start taking the Chinese source market seriously as soon as possible, as this is a once-in-a-lifetime opportunity to gain market share.
“Don’t just think about current net bookings, consider that millions of Chinese nationals are now considering their next international holiday – it’s not a question of if, it’s a question of when and where. Make sure it’s yours Property!” – trade arab news agency
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