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STR: Asia Pacific hotel performance for Q1 2018

Author: Theodore Koumelis / Date: Fri, 04/20/2018 - 14:05

Hong Kong sets Q1 occupancy record; Maldives sees strong demand with significant boost from European tourists; Vietnam performance remains strong even with significant supply increases.

LONDON - Hotels in the Asia Pacific region registered growth across the three key performance metrics during Q1 2018, according to data from STR.

U.S. dollar constant currency, Q1 2018 vs. Q1 2017

Asia Pacific

  • Occupancy: +1.5% to 69.0%
  • Average daily rate (ADR): +3.0% to US$112.48
  • Revenue per available room (RevPAR): +4.5% to US$77.59
  • Local currency, Q1 2018 vs. Q1 2017

Hong Kong

  • Occupancy: +3.8% to 90.1%
  • Average daily rate (ADR): +10.7% to HKD1,482.02
  • Revenue per available room (RevPAR): +14.9% to HKD1,335.10

This was the first Q1 in STR’s Hong Kong database with occupancy above 90%. According to STR analysts, performance momentum from 2017 extended into the first months of 2018 with strong demand, especially from Mainland China, generating more near-capacity occupancy nights and higher ADR premiums. Data from the Hong Kong Tourism Board showed a 9.9% increase in visitor arrivals during the first two months of 2018. Visitors from Mainland China accounted for 13.6% growth compared with the same two months in 2017.


  • Occupancy: +7.6% to 76.7%
  • Average daily rate (ADR): +1.6% to MVR12,569.93
  • Revenue per available room (RevPAR): +9.4% to MVR9,637.91

The absolute occupancy level was the highest for a Q1 in Maldives since 2014 thanks to the highest Q1 demand increase in the country (+10.6%) since 2010. According to the Ministry of Tourism, tourist arrivals to Maldives increased 17.0% from Q1 2017. Europeans represented the largest share of arrivals (56.8%) and most growth (+23.2%) compared with other world regions.


  • Occupancy: +5.9% to 75.7%
  • Average daily rate (ADR): +5.5% to VND2,917,007.93
  • Revenue per available room (RevPAR): +11.7% to VND2,208,814.66

Even with healthy supply growth (+4.3%), the absolute occupancy level was the highest for a Q1 in Vietnam since 2007. STR analysts cite strong tourism and foreign investment as reasons behind the hotel performance and inventory growth in the country. As of STR’s March Pipeline Report, Vietnam ranked third in the Asia Pacific region among countries with the most rooms in construction (20,633 rooms in 59 hotels). Strong demand has helped hoteliers maintain their pricing power during this time of supply growth.


Theodore Koumelis

Co-Founder & Managing Director

Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.