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STR: Asia Pacific hotel performance for Q2 2017

STR analysts note that Australia’s demand growth (+1.5%) was somewhat muted in comparison with previous quarters. That led to supply growth (+1.7%) factoring more prominently into overall results. In China, the absolute occupancy level was the highest for a Q2 since 2006.

LONDON – The hotel industry in the Asia Pacific region reported positive results in the three key performance metrics during the second quarter of 2017, according to data from STR.

Asia Pacific

  • Occupancy: +3.1% to 70.1%
  • Average daily rate (ADR): +0.9% to US$97.39
  • Revenue per available room (RevPAR): +4.1% to US$68.24
  • Local currency, Q2 2017 vs. Q2 2016

Australia

  • Occupancy: -0.2% to 72.7%
  • ADR: +1.8% to AUD176.61
  • RevPAR: +1.6% to AUD128.43

STR analysts note that the country’s demand growth (+1.5%) was somewhat muted in comparison with previous quarters. That led to supply growth (+1.7%) factoring more prominently into overall results. On a 12-month moving average, supply growth has reached 1.7%, which is the highest level in the country since 1999. At the market level, the largest year-over-year supply increases came in Perth (+9.8%) and Brisbane (+5.0%). In terms of performance, Sydney led in absolute values with occupancy at 83.9% (+1.1%) and ADR at AUD213.91 (+6.3%), and STR analysts believe the recently re-opened Sydney International Convention Centre will further bolster the market’s demand, specifically in the Meetings, Incentives, Conferences, and Events (MICE) industry.

China

  • Occupancy: +4.8% to 69.5%
  • ADR: +0.6% to CNY522.78
  • RevPAR: +5.5% to CNY363.23

The absolute occupancy level was the highest for a Q2 in China since 2006. Demand grew 8.1% during what STR analysts categorize as a shoulder season in China which precedes the country’s peak tourism months (July and August). Demand growth was especially pronounced around the Labour Day holiday. Among key market overall performance in China, Hangzhou and Guangzhou led in RevPAR growth at +16.3% and +11.3%, respectively.

Vietnam

  • Occupancy: +9.1% to 70.6%
  • ADR: +4.2% to VND2,777,499.59
  • RevPAR: +13.7% to VND1,961,341.99

Performance in Vietnam continued to trend upward, and the absolute occupancy level was the highest for a Q2 in the country since 2007. Demand was up 10.9% for the quarter, mostly in the Transient segment (bookings of less than 10 rooms at once), indicating further growth in business travel and free independent travelers (FIT).

Photo caption: Conrad Macao, Cotai Central.

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Tatiana is the news co-ordinator for TravelDailyNews Media Network (traveldailynews.gr, traveldailynews.com and traveldailynews.asia). Her role includes to monitor the hundrends of news sources of TravelDailyNews Media Network and skim the most important according to our strategy. She holds a Bachelor degree in Communication & Mass Media from Panteion University of Political & Social Studies of Athens and she has been editor and editor-in-chief in various economic magazines and newspapers.

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