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STR Reports H1 2014 Performance of Hotels in Asia

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According to data compiled by STR Global, hotels in the Asia Pacific region experienced mixed results during the first six months of 2014 when reported in U.S. dollars.

Year-to-date June 2014, the regions occupancy rose 0.9% to 66.9%, ADR fell 3.1% to US$118.03, and RevPAR decreased 2.3% to US$78.92.

On a constant currency basis in U.S. dollars, the region has grown 1.3% in RevPAR, year-to-date June, said Elizabeth Winkle, managing director of STR Global. The only region to report declines in occupancy year to date is Southeastern Asia (-4.7%), primarily driven by Thailand. From a rate perspective, Southeastern Asia (+6.5%) and Australia and Oceania (+2.4%), are the only two sub-regions to report ADR growth on a constant currency basis. Asia Pacific is such a diverse region that there is a lot occurring from a political and/or economic perspective. While growth is muted, the region is still reporting increases in the three key performance industry metrics for the first six months of the year, when measured in U.S. dollars in constant currency.

The regions occupancy during June fell 1.4% to 66.4%; ADR ended the month up 0.5% to US$112.44; and RevPAR was down 0.9% to US$74.61.

Highlights from key market performers for June 2014 in local currency (year-on-year comparisons):

- Auckland, New Zealand, rose 14.0% in occupancy to 75.3%, posting the largest increase in that metric. Shanghai, China, followed with a 10.3% increase to 73.5%.

- Jakarta, Indonesia (+13.9% to IDR1,192,753.17), and Osaka, Japan (+12.1% to JPY11,580.26), reported the largest ADR increases for the month.

- Delhi-NCR, India, fell 7.9% in ADR to INR5,449.27, experiencing the largest decrease in that metric.

- Four markets achieved double-digit RevPAR increases: Auckland (+21.5% to NZD105.59); Shanghai (+14.9% to CNY463.35); Osaka (+13.8% to JPY9,757.46); and Bali, Indonesia (+11.8% to IDR1,132,794.05).

- Bangkok, Thailand, reported the largest decrease in occupancy (-34.9% to 47.4%) and RevPAR (-36.6% to THB1,388.15).

Highlights from key market performers for June 2014 in U.S. dollars (year-on-year comparisons):

- Auckland led the ADR increases in June, jumping 20.7% to US$122.91.

- Bali reported the only double-digit ADR decrease, falling 10.5% to US$126.47.

- Three markets achieved RevPAR growth of more than 10%: Auckland (+37.6% to US$92.52); Shanghai (+15.5% to US$75.25); and Osaka (+11.2% to US$96.09).

- Bangkok (-39.3% to US$42.69) and Phuket (-20.8% to US$44.52) experienced the largest RevPAR decreases.

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