Asia Pacific pipeline for November

LONDON — The Asia Pacific hotel development pipeline comprises 1,939 hotels totaling 421,621 rooms, according to the November 2013 STR Global Construction Pipeline Report.

There are 109 hotels with 22,764 rooms under construction that are scheduled to open during the remainder of 2013 in the region. The Upscale segment is projected to open the most new rooms by 2014 (6,096 rooms in 24 hotels), followed by the Upper Upscale segment (5,167 rooms in 18 hotels) and the Upper Midscale segment (3,143 rooms in 22 hotels).

In 2014, 590 hotels with 120,710 rooms are expected to open in the region. Four segments are expected to each open more than 20,000 new rooms: the Upscale segment (134 hotels with 28,907 rooms); the Upper Upscale segment (91 hotels with 26,048 rooms); the Unaffiliated segment (144 hotels with 22,271 rooms); and the Luxury segment (70 hotels with 20,115 rooms).

Concerning Singapore, based on STR Global daily data from November, preliminary data includes:
• increases in supply (+5.6 percent) and demand (+3.9 percent);
• a -1.7-percent decrease in occupancy to 84.9 percent;
• a -0.5-percent decrease in average daily rate to SGD297.57;
• a -2.2-percent decline in revenue per available room to SGD252.54; and
• RevPAR is expected to increase by +3.7 percent in 2014.

“While absolute occupancy is very high in the mid-80 percent, decline in occupancy was primarily responsible for the negative trend in RevPAR, reporting the lowest levels for November since 2009”, said Elizabeth Winkle, managing director of STR Global. “With additional supply coming into the market, occupancy is expected to decline further, while ADR will drive the positive RevPAR performance in 2014”.

Last but not least daily data from November, preliminary data for Sydney includes:
• increases in supply (+1.6 percent) and demand (+4.8 percent);
• a +3.2-percent increase in occupancy to 90.2 percent;
• a +5.4-percent growth in average daily rate to AUD211.93;
• a +8.7-percent increase in revenue per available room to AUD191.09; and
• RevPAR is expected to grow by +1.2 percent in 2014.

“Sydney continues its positive trend and this month the market posts record levels in all three performance measures since STR Global started tracking numbers for this market”, said Elizabeth Winkle, managing director of STR Global. “ADR is expected to drive the moderate RevPAR performance in 2014, while occupancy remains flat”.

Sourced: TravelDailyNews