Bali hotels sets October performance record - Phuket hotel performance levels affected by decline in tourists from Mainland China
Hotels in the Asia Pacific region posted positive results across the three key performance metrics during October 2018, according to data from STR.
U.S. dollar constant currency, October 2018 vs. October 2017
• Occupancy: +1.6% to 72.5%
• Average daily rate (ADR): +1.5% to US$111.68
• Revenue per available room (RevPAR): +3.0% to US$80.93
Local currency, October 2018 vs. October 2017
• Occupancy: +18.0% to 75.6%
• ADR: +39.0% to IDR1,890,946.89
• RevPAR: +64.1% to IDR1,429,016.40
The absolute ADR and RevPAR levels were the highest for any October in STR’s Bali database, while the absolute occupancy level was the largest for an October in the market since 2011. STR analysts note that performance was lifted during 8-14 October, when meetings of the Boards of Governors of the International Monetary Fund and World Bank Group were held.
• Occupancy: -16.1% to 63.5%
• ADR: +0.7% to THB2,985.51
• RevPAR: -15.5% to THB1,896.78
The occupancy level was the lowest for an October in the market since 2009, while the absolute ADR and RevPAR levels were the lowest for an October since 2010. The steep year-over-year decrease in occupancy was worsened by comparison with a strong October in 2017. Regardless, Phuket has now seen four consecutive months of RevPAR declines. STR analysts believe this could be due to a decline in group business, along with a softening of tourist numbers from Mainland China, something that other key destinations in Thailand have also seen in recent months.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 10 countries around the world with a corporate North American headquarters in Hendersonville, Tennessee, and an international headquarters in London, England. For more information, please visit str.com.
Logos, product and company names mentioned are the property of their respective owners.