Restrictions, lack of inbound travel have limited Southeast Asia's hotel performance
Southeast Asia sits at the lower end of recovery compared to other STR-defined subcontinents, exceeding only the gains of Northeastern Asia in terms of occupancy and average daily rate (ADR) in 2022. This was due to strict and long-lasting COVID mitigation strategies and the region’s reliance on international travel, particularly from China, which has been slower to resume international flight capacity.