Friday, 29 August 2014 01:30
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According to data compiled by STR Global, hotels in the Asia Pacific region experienced mostly positive results during July 2014 when reported in US dollars.
In July 2014, the region’s occupancy rose 0.3% to 70.0%; ADR remained virtually flat rising, 0.2% to $ 112.44; and RevPAR was up 0.5% to $ 78.73.
“On a 12-month-moving-average basis, Asia Pacific has seen a supply increase of 3.7%, and at the same time demand has risen by 4.8%,” said Elizabeth Winkle, managing director of STR Global. “The result of demand outpacing supply is that we see positive occupancy growth (+1.1%) for the region, achieving occupancy of 68.6%.”
Highlights from key market performers for July 2014 in local currency (year-on-year comparisons):
Mumbai, India, reported the only double-digit occupancy increase, rising 10.7% to 64.2%.
Jakarta, Indonesia (-22.0% to 49.8%), and Bangkok, Thailand (-21.1% to 56.4%), reported the largest occupancy decreases.
Osaka, Japan, rose 16.8% in ADR to JPY 12, 880.81, achieving the largest increase in that metric. Bali, Indonesia, followed with an 11.2% increase to IDR 1,745,651.85.
Sydney, Australia, fell 5.1% in ADR to A$ 179.49, posting the largest decrease in that metric.
Four markets experienced double-digit RevPAR increases: Osaka (+19.6% to JPY 11,244.05); Bali (+18.4% to IDR 1,310,345.40); Taipei, Taiwan (+15.4% to TWD 3,979.56); and Mumbai (+10.3% to INR 4,362.32).
Bangkok (-20.7% to THB 1,663.09) and Kuala Lumpur, Malaysia (-20.0% to MYR 206.20), reported the largest RevPAR decreases during July.
Highlights from key market performers for July 2014 in US dollars (year-on-year comparisons):
Seoul, South Korea (+12.5% to $ 193.39), and Osaka (+11.9% to $ 125.81) reported the largest ADR increases during July.
Delhi-NCR, India, fell 4.6% in ADR to $ 91.70, posting the largest decrease in that metric.
Four markets achieved double-digit RevPAR increases: Taipei (+15.2% to $ 132.53); Osaka (+14.6% to $ 109.82); Auckland, New Zealand (+14.0% to $ 83.66); and Mumbai (+10.6% to $ 72.46).
Jakarta (-23.7% to $ 47.43) and Bangkok (-22.3% to $ 52.05) reported the largest RevPAR decreases. “Year to date, Osaka reported a strong increase in rate (+16.6%) and reported one of the highest RevPAR growths for the month (+18.9%) in local currency. The city and Japan as a whole are seeing improvement due to the devaluation of the Yen and general economic recovery,” Elizabeth added. “Bali (+17.3%) and Tokyo (+10.8%) also reported strong year-to-date RevPAR growth.”
