Hotels in the Asia Pacific region experienced mixed results in the three key performance metrics during December 2013 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy for December remained flat at 66.3 percent; its average daily rate dropped 3.7 percent to US$125.91; and its revenue per available room was down 3.7 percent to US$83.46.
“As with regional economic growth, hotel performance in Asia Pacific varied widely by country and market through a variety of reasons, including: oversupply, regulatory challenges, political uncertainty, increased demand and financial resurgence”, said Jesper Palmqvist, area director for Asia Pacific at STR Global. “South Korea, China and India generally faced tough tasks to follow up from strong performances in 2012 whereas Thailand, Japan and Australia saw growth across all metrics for 2013”.
“Apart from the continuing story that major Chinese hubs still have significant planned growth over existing supply, the pipeline has seen a shift with fewer projects in India and more in Indonesia, but also growth in smaller markets such as Sri Lanka”, Palmqvist said. “In terms of what’s due in 2014 by property class, there is growth in Midscale projects, but majority of new openings will remain in the Upscale and Luxury segments”.
Highlights from key market performers for December 2013 in local currency (year-over-year comparisons):
- Mumbai, India, led occupancy growth, rising 10.3 percent to 74.0 percent.
- Bangkok, Thailand, fell 11.7 percent in occupancy to 67.0 percent, posting the largest decrease in that metric. Delhi, India, followed with a 8.2-percent occupancy decrease to 60.2 percent.
- Bali, Indonesia (+16.9 percent to IDR1,768,122.07), and Jakarta, Indonesia (+16.2 percent to IDR1,154,768.45), experienced ADR increases of more than 15 percent.
- Delhi fell 7.5 percent in ADR to INR6,824.70, posting the largest decrease in that metric.
- Two markets experienced double-digit RevPAR growth of more than 20 percent: Bali (+23.4 percent to IDR1,166,313.02), and Melbourne, Australia (+21.3 percent to AUD153.46).
- Delhi fell 15.0 percent in RevPAR to INR4,107.09, posting the largest decrease in that metric.
About STR Global:
STR Global provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America. STR Global provides a single source of global hotel data covering daily and monthly performance data, segmentation data, forecasts, annual profitability, pipeline and census information. Hotel operators can join the surveys on a complimentary basis and benefit from free industry data. STR Global is part of the STR family of companies and is proudly associated with STR, RRC Associates, STR Analytics and HotelNewsNow.com. For more information, please visit www.strglobal.com.
Logos, product and company names mentioned are the property of their respective owners.