STR Reports Asia Pacific Hotel Results for April 2013

According to data compiled by STR Global, hotels in the Asia Pacific region experienced decreases in the three key performance metrics in April 2013 when reported in U.S. dollars.

In April, the Asia Pacific region’s occupancy ended the month with a 0.5% decrease to 68.6%, ADR dropped 2.3% to US$127.20 and RevPAR was down 2.8% to US$87.22.

“The Asia Pacific region, with a 2.6% decrease in RevPAR, reported modest declines in all three key performance metrics during the first four months of 2013 as reported in U.S. dollars,” said Elizabeth Winkle, managing director of STR Global. “RevPAR in Dehli NCR dropped 20.5% year to date through April, as the supply and demand imbalance in the market continues to create challenges. The strongest performance in the region has been in Thai markets of Phuket and Bangkok, with RevPAR growth of 14.2% and 24.2%, respectively. Last year, Thailand had a strong recovery from political strife and flooding in 2012, and that growth trajectory continued through 2013 as the country reports even stronger demand figures.”

Highlights from key market performers for April 2013, in local currency (year-on-year comparisons):

- Ho Chi Minh, Vietnam, rose 10.6% in occupancy to 70.4%, reporting the only double-digit increase in that metric.

- Three markets experienced double-digit occupancy decreases: Taipei, Taiwan (-15.5% to 66.7%); Seoul, South Korea (-13.9% to 73.2%); and Bali, Indonesia (-11.1% to 59.3%).

- Four markets experienced double-digit ADR increases: Jakarta, Indonesia (+16.2% to IDR1,071,059.68); Taipei (+11.1% to TWD6,061.25); Osaka, Japan (+10.8% to JPY11,453.44); and Tokyo, Japan (+10.0% to JPY15,949.71).

- Seoul (-7.7% to KRW199,841.66) and Phuket, Thailand (-7.5% to THB3,499.11), reported the largest ADR decreases for the month.

- Five markets achieved RevPAR increases of more than 10%: Jakarta (+19.6% to IDR774,482.96); Tokyo (+15.1% to JPY14,228.42); Auckland, New Zealand (+13.9% to NZD107.72); Osaka (+11.1% to JPY10,179.40); and Bangkok, Thailand (+10.9% to THB2,096.18).

- Seoul fell 20.6% to KRW146,332.07, reporting the largest decrease in that metric.

Highlights from key market performers for April2013 in U.S. dollars (year-on-year comparisons):

- Four markets experienced ADR increases of 10% or more: Bangkok (+12.6% to US$106.55); Auckland (+11.1% to US$118.89); Taipei (+10.1% to US$205.16); and Jakarta (+10.0% to US$110.10).

- Tokyo fell 9.7% in ADR to US$163.01, posting the largest decrease in that metric.

- Bangkok (+18.3% to US$71.52) and Auckland (+18.2% to US$91.91) achieved the largest RevPAR increases during April.

- Seoul fell 18.7% in RevPAR to US$132.01, reporting the only double-digit decrease in that metric.