Ho Chi Minh City, Vietnam, led the occupancy increases, rising 12.9 percent to 67.9 percent. Mumbai, India, followed with an 11.1-percent increase to 65.7 percent in occupancy.
LONDON — Hotels in the Asia Pacific region experienced mostly negative results in the three key performance metrics during September 2013 when compared with September 2012 and reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy ended the month with a 0.7-percent increase to 68.5 percent; its average daily rate dropped 5.9 percent to US$118.94; and its revenue per available room was down 5.2 percent to US$81.45.
Year-to-date September 2013, the region’s occupancy was down 0.3 percent to 67.5 percent; its ADR dropped 3.8 percent to US$121.99; and its RevPAR decreased 4.1 percent to US$82.29.
“Year-to-date performance is weakening and we see performance softening”, said Elizabeth Winkle, managing director of STR Global. “We have seen for the first time in three years that the equilibrium has shifted and supply is outpacing demand. Declining demand and increasing supply is negatively impacting all key performance indicators across the region with the exception of southeastern Asia, where ADR continues to be positive”.
“We have seen a slowdown in Hong Kong and Singapore, two key and strong performing markets”, Winkle continued. “This constriction is a reflection of the general economic slowdown in China, a large source market, and is more profoundly impacting Hong Kong. This time last year, Hong Kong narrowly beat Singapore in the RevPAR race, but in year-to-date September 2013 Singapore (US$197.48) is leading Hong Kong (US$184.62)”.
Highlights from key market performers for September 2013 in local currency (year-over-year comparisons):
- Seoul, South Korea, fell 8.4 percent to 75.4 percent in occupancy, posting the largest decrease in that metric.
- Three markets experienced double-digit ADR increases: Bali, Indonesia (+16.3 percent to IDR1,643,823.35); Jakarta, Indonesia (+14.8 percent to IDR1,143,707.82); and Osaka, Japan (+11.7 percent to JPY11,107.52).
- Mumbai fell 6.6 percent in ADR to INR6,962.44 in ADR, reporting the largest decrease in that metric.
- Three markets achieved RevPAR increases of more than 15 percent: Bali (+20.1 percent to IDR1,229,952.30); Auckland, New Zealand (+17.1 percent to NZD109.39); and Osaka (+15.4 percent to JPY9,384.68).
- Seoul fell 11.0 percent to KRW157,187.36 in RevPAR, posting the largest decrease in that metric.
Highlights from key market performers for September in U.S. dollars (year-over-year comparisons):
- Auckland reported the largest ADR increase, rising 7.1 percent to US$118.25.
- Mumbai (-21.7 to US$110.51) and Delhi-NCR, India (-21.0 percent to US$99.94), reported the largest ADR decreases for the month.
- Auckland rose 16.5 percent to US$90.32 in RevPAR, achieving the largest growth in the metric. Bangkok, Thailand, followed with a 10.1-percent increase to US$70.27.
- Delhi-NCR fell 18.3 percent to US$59.58 in RevPAR, posting the largest decrease in that metric.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
