TravelNewsAsia.com

STR Reports Preliminary August 2014 Data for Hotels in Dubai, London, Singapore and Sydney

Travel News Asia Videos Podcasts Latest Travel News Asia Friday, 12 September 2014
 

According to STR Global’s preliminary August 2014 data, hotels in Singapore enjoyed a positive performance for the month.

Based on daily data from August, hotels in Singapore reported:

- increases in supply (+1.7%) and demand (+4.3%);
- a 2.6% increase in occupancy to 89.2%;
- a 1.0% increase in ADR to Sin$296.62; and
- a 3.6% growth in RevPAR to Sin$264.62.

“Based on the preliminary data, Singapore will experience one of the highest monthly occupancies that the market has seen since July 2011,” said Elizabeth Winkle, managing director of STR Global. “August continued the trend of monthly occupancies of more than 80.0%, which began with February 2014. The market continued to see positive growth in demand.”

Sydney

Hotels in Sydney reported:

- increases in supply (+0.5%) and demand (+0.6%);
- a 0.1% increase in occupancy to 85.5%;
- a 0.4% increase in ADR to A$189.44; and
- a 0.6% growth in RevPAR to A$162.03.

Dubai

Hotels in Dubai reported:

- increases in supply (+8.6%) and demand (+10.9%);
- a 2.1% increase in occupancy to 75.1%;
- a 5.7% decrease in ADR to AED 682.21; and
- a 3.7% decline in RevPAR to AED 512.25.

“Occupancy performance is back to normal trading conditions after the fasting month of Ramadan in July,” Ms. Winkle said. “The overall decline in ADR, however, is strongly related to the three days of Eid celebrations shifting months, where Dubai hotels experience a spike in hotel performance.”

London

Hotels in London reported:

- increases in supply (+3.3%) and demand (+4.3%);
- a 1.1% increase in occupancy to 87.2%;
- a 2.1% increase in ADR to £134.92; and
- 3.3% growth in RevPAR to £117.61.

“Despite the market seeing the largest supply increase so far this year, hotels still saw strong demand, resulting in positive occupancy growth ... Two years after hosting the Summer Olympics, it’s good to see strong results still coming out of the market. The strong performance in August also can be attributed to the calendar shift of Ramadan from August to July,” said Ms. Winkle.

Asia Pacific Hotel Pipeline

According to the August 2014 STR Global Construction Pipeline Report, the Asia Pacific region reported 2,352 hotels comprising 528,109 rooms under contract - which includes projects in the in construction, final planning and planning stages but does not include projects in the unconfirmed stage.

Among the markets in the region, Jakarta, Indonesia, reported the most rooms under contract with 15,896 rooms. Four other markets reported more than 10,000 rooms under contract: Chengdu, China (13,251 rooms); Shanghai, China (12,763 rooms); Bali, Indonesia (12,737 rooms); and Manila, Philippines (10,509 rooms).

STR, ADR, RevPAR, August 2014

Subscribe to our Travel Industry News RSS Feed Travel Industry News RSS Feed from TravelNewsAsia.com. To do that in Outlook, right-click the RSS Feeds folder, select Add a New RSS Feed, enter the URL of our RSS Feed which is: https://www.travelnewsasia.com/travelnews.xml and click Add. The feed can also be used to add the headlines to your website or channel via a customisable applet. Have questions? Please read our Travel News FAQ. Thank you.

     
Advertising
Advertising
Copyright © 1997-2024 TravelNewsAsia.com