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STR: Preliminary April data for Melbourne and Singapore hotels

Tatiana Rokou - 12 May 2017, 00:07

ADR in Singapore has decreased year over year for 14th consecutive months, due in part to significant supply growth.

LONDON — STR’s preliminary April 2017 data for Melbourne, Australia, indicates performance consistent with significant supply growth, while data for Singapore indicates lower occupancy levels and room rates. 
 
Based on daily data from April, Melbourne reported the following in year-over-year comparisons:
  • Supply: +3.9%
  • Demand: +1.2%
  • Occupancy: -2.6% to 80.9%
  • Average daily rate (ADR): +0.6% to AUD176.23
  • Revenue per available room (RevPAR): -2.0% to AUD142.51
Based on daily data from April, Singapore reported the following in year-over-year comparisons:
  • Supply: +2.7%
  • Demand: +0.3%
  • Occupancy: -2.3% to 81.1%
  • Average daily rate (ADR): -4.6% to SGD268.01
  • Revenue per available room (RevPAR): -6.8% to SGD217.31
Despite the year-over-year decline, STR analysts note that the Sinapore's absolute occupancy level remained solid. Sea Asia maritime exhibition and conference (25-27 April) pushed occupancy above 90% on the 25th and 26th. 
 
ADR in Singapore has decreased year over year for 14th consecutive months, due in part to significant supply growth. 
 
April marked the second month in a row with supply growth nearing 4% in Melbourne. STR analysts believe this is the reason behind the lowest occupancy percentage in the market since June 2016 and the lowest ADR level since August 2016. 
 
Additionally, year-over-year results were unfavorably affected by the Easter calendar shift from March 2016 to April 2017. The specific impact was seen in a pair of corporate travel weeks that were unaffected last April. 
 
STR will release actual April 2017 results later this month. The May edition of STR’s Market Forecast also will be available in the coming weeks.

 

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