Originally Posted by
GloballyServiced
I would actually bet money that the tourism industry in China is doing better with borders closed than open. The others, besides Singapore, will open up eventually after a long and economically damning political process.
My data set is limited because I only know about the Portman and the JA Shangri-la. Both are at 90% occupancy after dropping their rates by 10% since COVID came to town. The thing is, Goldman Sachs guys can't expense $2000 dinners unless they are closing a deal, but tourists don't face any restrictions of this sort, and American tourists tend to stick to budgets. If we have less of them and more Asians/Chinese, Shanghai makes out well.