STR Global: Asia Pacific hotel results for September 2014

LONDON - Hotels in the Asia Pacific region experienced mixed results during September 2014 when reported in U.S. dollars, according to data compiled by STR Global.

In September 2014, the region’s occupancy rose 0.9 percent to 69.2 percent; its average daily rate fell 2.2 percent to US$112.31; and its revenue per available room was down 1.3 percent to US$77.67.

“Southeastern Asia was the only sub-region to see occupancy losses (-3.9 percent) in September, driven by declines in Thailand, Vietnam and Indonesia”, said Elizabeth Winkle, managing director of STR Global. “On the other hand, Central and South Asia reported occupancy growth this month, primarily driven by India. Confidence in the newly elected government and an upgraded economic outlook have been reasons cited for performance increases”.

Highlights from key market performers for September 2014 in local currency (year-over-year comparisons):
• Taipei, Taiwan (+9.4 percent to 66.3 percent), and Shanghai, China (+8.5 percent to 74.2 percent), reported the largest occupancy increases.
• Bangkok, Thailand, fell 11.6 percent to 64.5 percent, recording the largest decrease in that metric.
• Osaka, Japan, jumped 15.2 percent to JPY12,739.69 in ADR, achieving the largest increase in that metric.
• Delhi-NCR, India, reported the largest ADR decrease, falling 4.2 percent to INR5,940.01.
• Four markets experienced double-digit RevPAR increases: Osaka (+22.3 percent to JPY11,465.29); Taipei (+14.6 percent to TWD4,262.24); Shanghai (+13.3 percent to CNY471.64); and Mumbai, India (+10.5 percent to INR4,999.66).
• Bangkok reported the only double-digit RevPAR decrease, falling 11.0 percent to THB1,925.54.

Performances of key countries in September 2014* (all monetary units in local currency):

*percentages are increases/decreases for September 2014 versus September 2013

Highlights from key market performers for September 2014 in U.S. dollars (year-over-year comparisons):
• Mumbai (+4.3 percent to US$114.38) and Shanghai (+4.3 percent to US$103.20) recorded the largest ADR growth in September.
• Bali, Indonesia, reported the largest ADR decrease, falling 5.6 percent to US$131.99. Tokyo, Japan, followed with a 5.4-percent decrease to US$147.23.
• Three markets achieved double-digit RevPAR increases: Shanghai (+13.2 percent to US$76.61); Mumbai (+13.0 percent to US$81.18); and Taipei (+11.4 percent to US$139.88).
• Bangkok experienced the only double-digit RevPAR decrease, falling 13.8 percent to US$59.39.

Year-to-date September 2014 when reported in U.S. dollars, the Asia Pacific region’s occupancy rose 0.8 percent to 68.1 percent; its ADR fell 2.4 percent to US$116.15; and its RevPAR decreased 1.6 percent to US$79.07.

“From a year-to-date perspective, at this time last year supply growth in Asia Pacific was outpacing demand. The equilibrium has shifted and this year demand is outpacing supply," Winkle commented. "Since the recovery in 2010, demand outpacing supply has become the usual trend for the region”.

sourced:traveldailynews.asia