Hotels in the Asia Pacific region experienced negative performance results during March 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy for March fell 0.7 percent to 69.2 percent; its average daily rate dropped 3.3 percent to US$120.63; and its revenue per available room decreased 3.9 percent to US$83.44.
Highlights from key market performers for March 2014 in local currency (year-over-year comparisons):
- Mumbai, India, reported the largest occupancy increase, rising 8.1 percent to 69.2 percent.
- Bangkok, Thailand, fell 33.6 percent in occupancy to 53.7 percent, posting the largest decrease in that metric.
- Three markets achieved double-digit ADR increases: Osaka, Japan (+21.1 percent to JPY12,807.69); Jakarta, Indonesia (+11.2 percent to IDR1,180,455.54); and Tokyo, Japan (+11.0 percent to JPY16,662.35).
- Taipei, Taiwan, fell 11.7 percent in ADR to TWD6,452.85, reporting the largest decrease in that metric.
- Three markets experienced RevPAR increases of more than 10 percent: Osaka (+21.6 percent to JPY11,147.69); Tokyo (+14.3 percent to JPY14,866.72); and Jakarta (+10.8 percent to IDR837,431.97).
- Bangkok fell 36.1 percent to THB1,656,75, reporting the largest decrease in that metric.
- Auckland, New Zealand, increased 6.0 percent in ADR to US$133.44, reporting the largest increase in that metric. Seoul, South Korea, followed with a 5.9-percent increase to US$191.03.
- Bali, Indonesia (-13.0 percent to US$114.38), and Bangkok (-12.8 percent to US$94.72) reported the largest ADR decreases for the month.
- Osaka achieved the only double-digit RevPAR increase, rising 11.5 percent to US$108.42.
- Bangkok fell 42.1 percent to US$50.87, experiencing the largest decrease in that metric.
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