STR Global: Asia Pacific hotel results for October 2014

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

In October 2014, the region’s occupancy was down 0.6 percent to 72.0 percent; its average daily rate fell 3.6 percent to US$117.54; and its revenue per available room decreased 4.2 percent to US$84.65.

“Asia Pacific has seen positive growth for both supply and demand year to date, signifying the popularity of the region from a development and destination perspective”, said Elizabeth Winkle, managing director of STR Global.

“Australia & Oceania and Central & South Asia are reporting the same levels of occupancy growth year to date (+2.3 percent)”, Winkle commented. “Whilst growing at the same pace, Australia & Oceania is achieving absolute occupancy levels of 74.8 percent year to date, whilst Central & South Asia reported an occupancy level of 58.6 percent."

“While growth has been minimal in Northeastern Asia, Japan still is achieving occupancy levels of above 80.0 percent year to date”, Winkle said. “In Southeastern Asia, Thailand has seen year-to-date ADR growth in local currency terms despite decreasing occupancy. Year to date, the country’s occupancy is 62.7 percent, which is below its long-run average but still relatively high when compared to other parts of the world”.

Highlights from key market performers for October 2014 in local currency (year-over-year comparisons):
• Taipei, Taiwan, increased 9.2 percent to 75.2 percent in occupancy, reporting the largest increase in that metric. Hanoi, Vietnam, followed with a 6.8-percent increase to 74.6 percent.
• Delhi-NCR, India (-10.6 percent to 56.8 percent), and Jakarta, Indonesia (-10.0 percent to 66.3 percent), reported the largest occupancy decreases.
• Osaka, Japan, reported the largest ADR increase (+18.7 percent to JPY13,300.23), followed by Tokyo, Japan (+12.5 percent to JPY17,707.00), and Melbourne, Australia (+10.1 percent to AUD198.21).
• Delhi-NCR reported the only double-digit ADR decrease, falling 12.4 percent to INR6,769.34.
• Four markets achieved RevPAR growth of more than 10.0 percent: Osaka (+23.0 percent to JPY12,187.63); Melbourne (+17.1 percent to AUD173.27); Tokyo (+13.5 percent to JPY16,268.82); and Taipei (+10.6 percent to TWD4,960.79).
• Delhi-NCR fell 21.7 percent to INR3,842.84, posting the largest RevPAR decrease.

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

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

Highlights from key market performers for October 2014 in U.S. dollars (year-over-year comparisons):
• Osaka, Japan, rose 6.9 percent to US$121.96 in ADR, reporting the largest increase in that metric.
• Bali, Indonesia (-16.8 percent to US$130.62), and Delhi-NCR (-12.8 percent to US$110.22) posted the largest ADR decreases.
• Osaka achieved the only double-digit RevPAR increase, rising 10.8 percent to US$111.75.
• Delhi-NCR fell 22.0 percent to US$62.57 in RevPAR, experiencing the largest decrease in that metric.

sourced:traveldailynews.asia