The sentiment across Asia-Pacific hoteliers seems to be turning downward, but hotel performance data isn't following that trend quite yet, according to STR's Jesper Palmqvist.

Speaking on the latest episode of the Hotel News Now podcast, Palmqvist said there is traditionally a lag between a drop in sentiment and a drop in performance data, but that lag time is shrinking.

"It's kind of like the booking window," he said. "I think it used to be a bit longer, but now it's shorter."

The weaker-than-expected performance in China around the Golden Week and Labour Day holidays is a big part of that sentiment shift, which is unwelcome news for the many international destinations still awaiting the return of outbound Chinese travelers.

"The numbers there weren't extraordinary," Palmqvist said. "You get some but not all. And then domestically, it was a disappointment when you compare it to the last year."

Hotel rates in mainland China are 10% to 20% lower than the same period last year, which was shortly after the country fully reopened, he said.

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