HVS has announced the publication of The Greater China Quarterly Newsletter – Hong Kong, Macau, China and Taiwan Update 1st Quarter 2013.
Co-authored by HVS Hong Kong Managing Director Daniel Voellm and Consulting and Valuation Analyst Adriane Li, the quarterly bilingual newsletter highlights the latest tourism trends for Hong Kong, Macau, China and Taiwan, as well as individual hotel market performances on a quarterly basis. Based on our extensive research, the team provides insight and future outlook to individual hotel markets, including:
- Hong Kong received more than 48 million visitors in the year 2012, including over 13 million visitors in quarter four alone driven by a record 9.58 million visitor arrivals from mainland China. Though Hong Kong’s tourism market remains buoyant thanks to visitor arrivals from mainland China, the market continues to face uncertainties.
- Macau’s visitor arrivals continued to decline in the 4th Quarter of 2012. Macau’s occupancy level in 2013 is expected to remain strong, and leisure demand from Chinese tourists will continue to dominate the market. However, regional gambling competition is set to increase, limiting the potential for visitor arrivals growth in the absence of new additions to supply.
- China welcomed 6.8 million visitors in the 4th Quarter of 2012 with the Japanese market recording a significant drop due to diplomatic tensions. Among the top ten hotel markets, Changsha, Beijing and Fuzhou performed particularly well, while Sanya and Shanghai experienced a drop in RevPAR.
- Taiwan’s visitor arrivals continued to grow healthily in the 4th Quarter of 2012. As somewhat of a latecomer to the tourism trade, Taiwan has relaxed cross-straits travel restrictions, significantly stepped up its marketing efforts and executed a number of promotional campaigns boosting visitor arrivals.
For a complimentary copy of The Greater China Quarterly Newsletter – Hong Kong, Macau, China and Taiwan Update 1st Quarter 2013, please click here.