Year-to-date June 2014, the region’s occupancy rose 0.9 percent to 66.9 percent, its average daily rate fell 3.1 percent to US$118.03, and its revenue per available room decreased 2.3 percent to US$78.92.
LONDON – Hotels in the Asia Pacific region experienced mixed results during the first six months of 2014 when reported in U.S. dollars, according to data compiled by STR Global.
Year-to-date June 2014, the region’s occupancy rose 0.9 percent to 66.9 percent, its average daily rate fell 3.1 percent to US$118.03, and its revenue per available room decreased 2.3 percent to US$78.92.
“On a constant currency basis in U.S. dollars, the region has grown 1.3 percent in RevPAR, year-to-date June”, said Elizabeth Winkle, managing director of STR Global. “The only region to report declines in occupancy year to date is Southeastern Asia (-4.7 percent), primarily driven by Thailand. From a rate perspective, Southeastern Asia (+6.5 percent) and Australia and Oceania (+2.4 percent), are the only two sub-regions to report ADR growth on a constant currency basis.”
“Asia Pacific is such a diverse region that there is a lot occurring from a political and/or economic perspective. While growth is muted, the region is still reporting increases in the three key performance industry metrics for the first six months of the year, when measured in U.S. dollars in constant currency.”
The region’s occupancy during June fell 1.4 percent to 66.4 percent; its ADR ended the month up 0.5 percent to US$112.44; and its RevPAR was down 0.9 percent to US$74.61.
Highlights from key market performers for June 2014 in local currency (year-over-year comparisons):
• Auckland, New Zealand, rose 14.0 percent in occupancy to 75.3 percent, posting the largest increase in that metric. Shanghai, China, followed with a 10.3-percent increase to 73.5 percent.
• Jakarta, Indonesia (+13.9 percent to IDR1,192,753.17), and Osaka, Japan (+12.1 percent to JPY11,580.26), reported the largest ADR increases for the month.
• Delhi-NCR, India, fell 7.9 percent in ADR to INR5,449.27, experiencing the largest decrease in that metric.
• Four markets achieved double-digit RevPAR increases: Auckland (+21.5 percent to NZD105.59); Shanghai (+14.9 percent to CNY463.35); Osaka (+13.8 percent to JPY9,757.46); and Bali, Indonesia (+11.8 percent to IDR1,132,794.05).
• Bangkok, Thailand, reported the largest decrease in occupancy (-34.9 percent to 47.4 percent) and RevPAR (-36.6 percent to THB1,388.15).
Performances of key countries in June 2014* (all monetary units in local currency):
*percentages are increases/decreases for June 2014 versus June 2013
Highlights from key market performers for June 2014 in U.S. dollars (year-over-year comparisons):
• Auckland led the ADR increases in June, jumping 20.7 percent to US$122.91.
• Bali reported the only double-digit ADR decrease, falling 10.5 percent to US$126.47.
• Three markets achieved RevPAR growth of more than 10 percent: Auckland (+37.6 percent to US$92.52); Shanghai (+15.5 percent to US$75.25); and Osaka (+11.2 percent to US$96.09).
• Bangkok (-39.3 percent to US$42.69) and Phuket (-20.8 percent to US$44.52) experienced the largest RevPAR decreases.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
