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STR: Regional hotel occupancy down in APAC due to softening in demand growth from Mainland China

Author: Theodore Koumelis / Date: Thu, 10/25/2018 - 14:03
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Key September takeaways of STR's research show regional occupancy down due to softening in demand growth from Mainland China, Hong Kong RevPAR grows for 17th consecutive month despite Typhoon Mangkhut, Osaka performance levels affected by Typhoon Jebi

LONDON - Hotels in the Asia Pacific region posted mixed results across the three key performance metrics during September 2018, according to data from STR. 

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

Asia Pacific

  • Occupancy: -2.7% to 69.2%
  • Average daily rate (ADR): +2.8% to US$106.24
  • Revenue per available room (RevPAR): +0.1% to US$73.47

STR analysts note that key markets in the region, such as Thailand, saw a softening in demand growth from mainland China. 

Local currency, September 2018 vs. September 2017

Hong Kong

  • Occupancy: -4.2% to 82.8%
  • ADR: +8.1% to HKD1,458.29
  • RevPAR: +3.6% to HKD1,206.94

Hong Kong hotels have posted a year-over-year increase in RevPAR for 17 consecutive months. According to STR analysts, the September increase had to be driven primarily by ADR growth as Typhoon Mangkhut led to three days with double-digit declines in demand and occupancy (15-17 September). 

Osaka, Japan

  • Occupancy: -14.7% to 76.9%
  • ADR: -6.3% to JPY14,018.50
  • RevPAR: -20.1% to JPY10,774.26

RevPAR has declined year over year for seven consecutive months in the market. STR analysts note that Typhoon Jebi had a significant impact on Osaka’s performance levels as did continued significant supply growth. 

A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing as those names no longer fit within the STR brand.

ABOUT THE AUTHOR

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.