Seoul, South Korea (+10.5 percent to 80.9 percent), and Shanghai, China (+10.2 percent to 74.9 percent), reported the largest occupancy increases.
Hotels in the Asia Pacific region experienced mixed results during April 2014 when reported in U.S. dollars, according to data compiled by STR Global.
The region’s occupancy during April rose 1.2 percent to 68.8 percent; its average daily rate dropped 2.7 percent to US$118.44; and its revenue per available room decreased 1.6 percent to US$81.46.
“Asia Pacific performance is slowing”, said Elizabeth Winkle, managing director of STR Global. “General elections in India, which last nearly a month and a half, had an impact on hotel performance as business travel traditionally slows during this time. Quite a few Indian Premier League cricket matches were moved from India to Dubai, which also hurt hotel demand in April. Thailand continues to see negative performance due to the political unrest. The country will hold elections soon, which could help alleviate the situation”.
Highlights from key market performers for April 2014 in local currency (year-over-year comparisons):
- Seoul, South Korea (+10.5 percent to 80.9 percent), and Shanghai, China (+10.2 percent to 74.9 percent), reported the largest occupancy increases.
- Bangkok, Thailand, fell 15.0 percent to 57.3 percent, posting the largest occupancy decrease.
- Four markets achieved double-digit ADR increases: Osaka, Japan (+18.7 percent to JPY13,269.06); Tokyo, Japan (+12.4 percent to JPY17,536.73); Kuala Lumpur, Malaysia (+11.4 percent to MYR412.19); and Jakarta, Indonesia (+10.7 percent to IDR1,156,650.09).
- Delhi-NCR, India, reported the largest ADR decrease, falling 9.0 percent to INR5,946.85.
- Three markets experienced RevPAR increases of more than 15 percent: Kuala Lumpur (+20.3 percent to MYR298.40); Osaka (+19.1 percent to JPY11,923.69); and Bali, Indonesia (+19.0 percent to IDR937,824.82).
- Delhi-NCR (-17.8 percent to INR3,332.85) and Bangkok (-13.4 percent to THB1,750.86) reported the largest RevPAR decreases in April.
percentages are increases/decreases for April 2014 versus April 2013
Highlights from key market performers for April 2014 in U.S. dollars (year-over-year comparisons):
- Osaka (+13.2 percent to US$129.35) and Seoul (+10.1 percent to US$196.27) were the only markets to report double-digit ADR growth.
- Delhi-NCR fell 18.6 percent in ADR to US$98.24, reporting the largest decrease in that metric. The market also reported the largest RevPAR decrease, falling 26.5 percent to US$55.06.
- Three markets achieved double-digit RevPAR growth: Seoul (+21.6 percent to US$158.82); Osaka (+13.6 percent to US$116.24); and Kuala Lumpur (+11.9 percent to US$91.46).
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
