Hotels in the Asia Pacific region experienced decreases in the three key performance metrics during January 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy for January fell 3.6 percent to 62.1 percent; its average daily rate dropped 1.9 percent to US$125.75; and its revenue per available room decreased 5.4 percent to US$78.03.
“Performance in the Asia Pacific region is showing vastly different trends compared with the other world regions”, said Elizabeth Winkle, managing director of STR Global. “There has not been a lot of positive news coming out of the region, and that is reflected in hotel performance in January. Australia and Oceania was the only sub-region to report positive occupancy growth (+3.0 percent to 72.6 percent).
“Thailand performance was varied in January, as the country reported declines in both occupancy (-13.8 percent) and RevPAR (-3.9 percent), when measured in local currency”, Winkle continued. “Bangkok reported steep performance declines while ADR and RevPAR in Phuket were positive when measured in local currency”.
Highlights from key market performers for January 2014 in local currency (year-over-year comparisons):
- Bali, Indonesia, reported the only double-digit occupancy increase, rising 10.2 percent to 66.0 percent.
- Four markets experienced double-digit occupancy decreases: Bangkok, Thailand (-25.8 percent to 57.0 percent); Beijing, China (-13.8 percent to 54.7 percent); Hanoi, Vietnam (-10.7 percent to 60.8 percent); and Ho Chi Minh City, Vietnam (-10.0 percent to 65.0 percent).
- Four markets achieved double-digit ADR increases: Osaka, Japan (+15.5 percent to JPY11,539.87); Bali (+14.8 percent to IDR1,696,229.43); Jakarta, Indonesia (+14.1 percent to IDR1,195,236.36); and Tokyo, Japan (+10.1 percent to JPY15,813.03).
- Delhi-NCR, India, fell 6.6 percent to INR6,823.62 in ADR, posting the largest decrease in that metric.
- Bali (+26.5 percent to IDR1,119,473.83) and Osaka (+20.3 percent to JPY8,977.59) experienced the largest RevPAR increases.
- Bangkok fell 22.1 percent to THB1,985.23 in RevPAR, experiencing the largest decrease in that metric.
*percentages are increases/decreases for January 2014 versus January 2013
Highlights from key market performers for January 2014 in U.S. dollar (year-over-year comparisons):
- Auckland, New Zealand, increased 3.8 percent to US$116.54 in ADR, reporting the largest increase in that metric.
- Delhi-NCR (-20.4 percent to US$108.75) and Mumbai, India (-19.1 percent to US$120.68) reported the largest ADR decreases.
- Auckland achieved the largest RevPAR growth, increasing 7.7 percent to US$88.23. Osaka followed with a 6.9-percent increase to US$87.62.
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.
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