Asia Pacific hotel occupancy grows

LONDON  Hotels in the Asia Pacific region experienced US dollar performance decreases during October according to data compiled by STR Global.
In October, the region’s occupancy was down 0.6% to 72.0%; average daily rate fell 3.6% to USD117.54; and revenue per available room decreased 4.2% to USD84.65.
“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, STR Global managing director, Elizabeth Winkle.
Inside no5“Australia and Oceania and Central and South Asia are reporting the same levels of occupancy growth year to date (+2.3%)”, Winkle commented. “Whilst growing at the same pace, Australia and Oceania is achieving absolute occupancy levels of 74.8% year-to-date, whilst Central and South Asia reported an occupancy level of 58.6%.
“While growth has been minimal in northeast Asia, Japan still is achieving occupancy levels of above 80% year-to-date”, Winkle said.
“In Southeast 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%, 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% to 75.2% in occupancy, reporting the largest increase in that metric. Hanoi, Vietnam, followed with a 6.8% increase to 74.6%.
* Delhi-NCR, India (-10.6% to 56.8%), and Jakarta, Indonesia (-10% to 66.3%), reported the largest occupancy decreases.
* Osaka, Japan, reported the largest ADR increase (+18.7% to JPY13,300.23), followed by Tokyo, Japan (+12.5% to JPY17,707.00), and Melbourne, Australia (+10.1% to AUD198.21).
* Delhi-NCR reported the only double-digit ADR decrease, falling 12.4% to INR6,769.34.
* Four markets achieved RevPAR growth of more than 10.0%: Osaka (+23% to JPY12,187.63); Melbourne (+17.1% to AUD173.27); Tokyo (+13.5% to JPY16,268.82); and Taipei (+10.6% to TWD4,960.79).
* Delhi-NCR fell 21.7% to INR3,842.84, posting the largest RevPAR decrease.
Highlights from key market performers for October in US dollars (year-over-year comparisons):
* Osaka, Japan, rose 6.9% to USD121.96 in ADR, reporting the largest increase in that metric.
* Bali, Indonesia (-16.8% to USD130.62), and Delhi-NCR (-12.8% to USD110.22) posted the largest ADR decreases.
* Osaka achieved the only double-digit RevPAR increase, rising 10.8% to USD111.75.
* Delhi-NCR fell 22% to USD62.57 in RevPAR, experiencing the largest decrease in that metric.
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. It is part of the STR family of companies and is associated with STR, Inc. (www.str.com), STR Analytics (www.stranalytics.com) and Hotel News Now (www.hotelnewsnow.com).

sourced:ttrweekly.com