Hotels in Asia Pacific report decrease in OR and RevPAR; ADR flat

Tuesday, 29 December 2015 00:09 - - {{hitsCtrl.values.hits}}

According to November 2015 data compiled by STR Global, hotels in the Asia Pacific region reported mostly negative results in the three key performance metrics when reported in US dollar constant currency.

Compared to November 2014, hotels in the Asia Pacific region reported a 1.8% decrease in occupancy to 70.4% while ADR remained nearly flat at $ 110.91, +0.1%. RevPAR fell 1.8% to $ 78.13.

November 2015 Year-on-Year Comparisons

Malaysia saw a 3.1% decrease in occupancy to 65.5%. However, ADR rose 7.9% to MYR351.97, driving a 4.6% increase in RevPAR to MYR230.39. US President Barack Obama’s visit to Malaysia during the ASEAN Summit proved to be the main force behind the growth, with hotels reporting RevPAR increases of more than 20.0% between 19-22 November.

Philippines experienced nearly flat occupancy performance (-0.3% to 73.5%) but double-digit growth in ADR (+11.1% to PHP 6,150.59) and RevPAR (+10.7% to PHP 4,523.30). The country hosted the APEC CEO Summit on 16-18 November.

Vietnam reported increases across the three key performance metrics: occupancy (+1.7% to 69.3%), ADR (+1.9% to VND 2,681,036.04) and RevPAR (+3.6% to VND 1,857,636.46). The Vietnamese Ministry of Finance announced early in October a decrease in fees (beginning 23 November) for the issuance of passports, visas and documents related to entry, exit, transit and residence in the country.

Cities

Beijing, China, recorded increases in occupancy (+3.4% to 72.8%) and RevPAR (+3.4% to CNY430.82). ADR was flat at CNY592.04. Demand growth (+4.3%) outpaced supply growth (+0.8%) for the month.

Jakarta, Indonesia, experienced decreases in occupancy (-6.6% to 66.9%) and RevPAR (-5.9% to IDR 743,375.57). ADR increased 0.7% to IDR 1,111,708.34. Supply growth (+6.8%) significantly outperformed demand growth (-0.2%) in the market.

Sydney, Australia, reported a 0.3% dip in occupancy to 90.1% but increases in ADR (+7.9% to AUD237.96) and RevPAR (+7.6% to AUD214.45). STR Global analysts credit a strong events calendar throughout the month for the high occupancy levels and rate growth. Included on that calendar were AC/DC (4 November) and Taylor Swift (28 November) concerts as well as the Emirates Australian Open golf event (27-30 November).

2,435 hotels with 562,781 rooms under contract in Asia Pacific

According to the November 2015 STR Global Construction Pipeline Report, there are 2,435 hotels totaling 562,781 rooms Under Contract in the Asia Pacific region.

This represents a 3.1% increase in rooms Under Contract compared with November 2014, but a 4.0% year-on-year decrease in rooms under construction.

The region reported 256,565 rooms in 1,030 hotels under construction for the month.

Among the region’s key markets, Shanghai, China, reported the largest number of rooms under construction with 8,620 rooms.

Three additional markets each reported more than 5,000 rooms under construction: Chengdu, China (6,820 rooms); Jakarta, Indonesia (5,669 rooms); and Bali (pictured), Indonesia (5,303 rooms).

The Under Contract data includes projects in the In Construction, Final Planning and Planning stages but does not include projects in the Unconfirmed stage.

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