Hotels in Asia report lower business in October

Tuesday, 2 December 2014 00:40 - - {{hitsCtrl.values.hits}}

According to data compiled by STR Global, hotels in the Asia Pacific region experienced performance decreases during October 2014 when reported in US dollars. In October 2014, the occupancy rates of hotels in the region was down 0.6% to 72.0%; ADR fell 3.6% to $ 117.54; and RevPAR decreased 4.2% to $ 84.65. Highlights from key market performers for October 2014 in local currency (year-on-year comparisons): - Taipei, Taiwan, increased 9.2% to 75.2% in occupancy, reporting the largest increase in that metric. Hanoi, Vietnam, followed with a 6.8% increase to 74.6%. - Delhi-NCR, India (-10.6% to 56.8%), and Jakarta, Indonesia (-10.0% to 66.3%), reported the largest occupancy decreases. - Osaka, Japan, reported the largest ADR increase (+18.7% to JPY13,300.23), followed by Tokyo, Japan (+12.5% to JPY17,707.00), and Melbourne, Australia (+10.1% to A$ 198.21). - Delhi-NCR reported the only double-digit ADR decrease, falling 12.4% to INR6,769.34. - Four markets achieved RevPAR growth of more than 10.0%: Osaka (+23.0% to JPY12, 187.63); Melbourne (+17.1% to A$173.27); Tokyo (+13.5% to JPY16,268.82); and Taipei (+10.6% to TWD4,960.79). Delhi-NCR fell 21.7% to INR3,842.84, posting the largest RevPAR decrease. “Asia Pacific has seen positive growth for both supply and demand year to date, signifying the popularity of the region from a development and destination perspective,” said STR Global Managing Director Elizabeth Winkle. “Australia & Oceania and Central and South Asia are reporting the same levels of occupancy growth year to date (+2.3%). Whilst growing at the same pace, Australia and Oceania is achieving absolute occupancy levels of 74.8% year to date, while Central and South Asia reported an occupancy level of 58.6%. While growth has been minimal in Northeastern Asia, Japan still is achieving occupancy levels of above 80.0% year to date ... In Southeastern Asia, Thailand has seen year-to-date ADR growth in local currency terms despite decreasing occupancy. Year to date, the country’s occupancy is 62.7%, which is below its long-run average but still relatively high when compared to other parts of the world.” Highlights from key market performers for October 2014 in U.S. dollars (year-over-year comparisons): - Osaka, Japan, rose 6.9% to US$121.96 in ADR, reporting the largest increase in that metric. - Bali, Indonesia (-16.8% to US$130.62), and Delhi-NCR (-12.8% to US$110.22) posted the largest ADR decreases. - Osaka achieved the only double-digit RevPAR increase, rising 10.8% to US$111.75. - Delhi-NCR fell 22.0% to US$62.57 in RevPAR, experiencing the largest decrease in that metric.

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