April 2014 Performance of Hotels in Asia; Bangkok RevPAR Down 13.4%

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

The region’s occupancy during April rose 1.2% to 68.8%; ADR dropped 2.7% to US$118.44; and RevPAR decreased 1.6% to US$81.46.

“Asia Pacific performance is slowing,” said Elizabeth Winkle, managing director of STR Global. “General elections in India, which last nearly a month and a half, had an impact on hotel performance as business travel traditionally slows during this time. Quite a few Indian Premier League cricket matches were moved from India to Dubai, which also hurt hotel demand in April. Thailand continues to see negative performance due to the political unrest.”

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

Seoul, South Korea (+10.5% to 80.9%), and Shanghai, China (+10.2% to 74.9%), reported the largest occupancy increases.

Bangkok, Thailand, fell 15.0% to 57.3%, posting the largest occupancy decrease.

Four markets achieved double-digit ADR increases: Osaka, Japan (+18.7% to JPY13,269.06); Tokyo, Japan (+12.4% to JPY17,536.73); Kuala Lumpur, Malaysia (+11.4% to MYR412.19); and Jakarta, Indonesia (+10.7% to IDR1,156,650.09).

Delhi-NCR, India, reported the largest ADR decrease, falling 9.0% to INR5,946.85.

Three markets experienced RevPAR increases of more than 15%: Kuala Lumpur (+20.3% to MYR298.40); Osaka (+19.1% to JPY11,923.69); and Bali, Indonesia (+19.0% to IDR937,824.82).

Delhi-NCR (-17.8% to INR3,332.85) and Bangkok (-13.4% to THB1,750.86) reported the largest RevPAR decreases in April.

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

Osaka (+13.2% to US$129.35) and Seoul (+10.1% to US$196.27) were the only markets to report double-digit ADR growth.

Delhi-NCR fell 18.6% in ADR to US$98.24, reporting the largest decrease in that metric. The market also reported the largest RevPAR decrease, falling 26.5% to US$55.06.

Three markets achieved double-digit RevPAR growth: Seoul (+21.6% to US$158.82); Osaka (+13.6% to US$116.24); and Kuala Lumpur (+11.9% to US$91.46).

See also: How did the recent political demonstrations affect the Four Seasons Hotel Bangkok? Exclusive HD video interview with the RVP/GM.