STR Global: Asia Pacific hotel results for November 2014

26 Dec 2014  2044 | World Travel News

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

In November 2014, the region’s occupancy was down 0.4 percent to 72.2 percent; its average daily rate fell 3.0 percent to US$115.70; and its revenue per available room decreased 3.4 percent to US$83.48.

“In U.S. dollar terms, Asia Pacific as a region is showing a decline on RevPAR rates. However, when looking at it on a constant-currency basis, the region has increased by 0.7 percent”, said Elizabeth Winkle, managing director of STR Global. “Australia has performed very well in 2014 and will end the year on a positive note, with strong performance in cities such as Melbourne and Sydney reporting year-to-date RevPAR growth of 5.8 percent and 4.6 percent, respectively (when reported in local currency)”.

Highlights from key market performers for November 2014 in local currency (year-over-year comparisons):

• Hanoi, Vietnam (+16.0 percent to 82.9 percent), and Mumbai, India (+15.9 percent to 81.2 percent), reported the largest occupancy increases.
• Jakarta, Indonesia, fell 9.0 percent in occupancy to 71.3 percent, reporting the largest decrease in that metric.
• Osaka, Japan (+22.3 percent to JPY14,734.98), and Auckland, New Zealand (+11.2 percent to NZD167.85), recorded the only double-digit ADR increases.
• Seoul, South Korea, reported the largest ADR decrease, falling 6.8 percent to KRW203,774.45.
• Six markets experienced RevPAR increases of more than 10.0 percent: Osaka (+25.7 percent to JPY13,564.72); Mumbai (+17.0 percent to INR6,370.92); Auckland (+11.7 percent to NZD146.04); Taipei, Taiwan (+11.7 percent to TWD5,183.20); Shanghai, China (+11.2 percent to CNY530.82); and Hanoi (+11.1 percent to VND1,968,215.43).
• Seoul (-8.0 percent to KRW165,287.86) and Phuket, Thailand (-7.4 percent to THB2,995.11) reported the largest RevPAR decreases.

“In the first 11 months, China was able to increase occupancy by 2 percent to 66.2 percent year to date; however, the market is still struggling with rate, resulting in a 1 percent RevPAR decline (when reported in local currency). Japan has remained flat from an occupancy perspective; however, rate still grows, due to ongoing government economic policies, most significantly the weakness of the Yen”, Winkle said. “As a result of last spring’s military action resulting in uncertainty in the minds of tourists, Thailand has seen demand declines of 11.3 percent November year to date, which has negatively impacted occupancy (-12.9 percent). In spite of declining demand and occupancy, the country grew rates by 2.9 percent (when reported in local currency)”.

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

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

Highlights from key market performers for November 2014 in U.S. dollars (year-over-year comparisons):

• Auckland rose 7.2 percent to US$131.45 in ADR, reporting the largest increase in that metric.
• Mumbai (+17.2 percent to US$102.40) and Shanghai (+11.1 percent to US$86.49) achieved the largest RevPAR increases.
• Seoul recorded the largest decrease in ADR (-13.0 percent to US$179.46) and RevPAR (-14.1 percent to US$145.57).

sourced:traveldailynews.asia 

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