STR monitors Asia Pacific hotel trends

LONDON Hotels in the Asia Pacific region reported a moderate occupancy decline, but a strong rate growth in January 2017, according to the latest  data from STR.

Based on US dollar constant currency, year-over-year comparisons, for the Asia Pacific region, the average daily rate increased 4.6% to USD108.10.

Occupancy across the region declined 0.8% to 64.8%

Revenue per available room (RevPAR) improved 3.7% to USD70.07

STR highlighted specific markets in local currency, year-over-year comparisons:

New Zealand

Occupancy: -3.0% to 79.8%

ADR: +16.3% to NZD190.45

RevPAR: +12.8% to NZD151.93

With ADR as the primary driver of performance, New Zealand posted year-over-year RevPAR growth for 43 consecutive months dating back to July 2013.

Key markets like Queenstown (+19.2%), Roturua (+14.8%) and Auckland (+13.5%) each recorded double-digit RevPAR increases for January, while Wellington (-0.7%) was the only major market to report a decline in the metric, albeit marginal.

Vietnam

Occupancy: +1.3% to 68.4%

ADR: +4.2% to VND2,882,582.04

RevPAR: +5.5% to VND1,971,396.72

Hotel performance was lifted by a calendar shift with the Tet holiday, or Vietnamese New Year (28 January), which occurred in February last year.

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