Beijing hotel demand rises on strong inbound tourism and resilient domestic holiday spending

• Inbound arrivals peaked at 750,000 in April, with cumulative visits reaching 2.67 million (+35.3% Y-o-Y) and spending hitting $3.64 billion from January to May 2026. 
• Record-breaking holiday performance saw 18.8 million visitors and RMB 22.36 billion in spending during the May Day break, while the Dragon Boat Festival attracted 8.47 million visitors with RMB 11.35 billion in expenditure.

Accelerated supply pipeline with four new upscale hotels opening in Q2

• The second quarter saw an accelerated pace of new supply, with four upscale and above hotels including Hilton Garden Inn Beijing Asian Games Village, Wanda Jin Beijing Tongzhou, and Marriott Beijing Huairou opening to add 1,018 rooms. 
• A total of 2,456 rooms are scheduled to open this year, including projects like Beijing Marriott Marquis, The Ritz-Carlton Beijing Beichen, and JW Marriott Hotel Beijing Dongzhimen, which will further reshape the regional competitive landscape.

Robust RevPAR growth in upscale and luxury segments driven by diversified demand and pricing power

• The upscale and above market achieved steady annual RevPAR growth in H1, with rising ADR enhancing revenue quality and occupancy seeing a slight increase.
• The luxury segment outperformed with upward trends in RevPAR and ADR alongside higher occupancy, reflecting strong pricing power supported by the return of high-net-worth international travellers and demand for deep experiential consumption.

Outlook: Q3 summer peak and H2 international events to sustain high occupancy and support rate growth

• The third quarter will see the summer tourism peak driven by families and students, with occupancy expected to remain high in July and August supported by natural demand flow, summer music festivals, and cultural exhibitions.
• A series of international events in H2, including the World Humanoid Robot Games, CIFTIS, China Open, WTT China Smash, and Beijing Marathon, will drive incremental room nights and support ADR growth in key business districts such as Shougang Park, Olympic Center, Guomao, and Qianmen.