According to August 2015 data compiled by STR
Global, hotels in the Asia Pacific region experienced positive
results in the three key performance metrics when reported in U.S.
dollar constant currency.
Compared to August 2014, hotels in the Asia
Pacific region reported a 1.3% increase in occupancy to 72.7%, a
1.0% rise in ADR to US$109.21 and a 2.3% increase in RevPAR to
Performance of featured countries for August
2015 (local currency, year-on-year comparisons):
Japan experienced a 1.3% increase in occupancy
to 87.0% as well as double-digit growth in ADR (+13.3% to
JPY16,454.79) and RevPAR (+14.7% to JPY14,321.85). According to
STR Global analysts, the devaluation of the Japanese Yen has led
to an increase in international arrivals, especially in the
leisure business sector. In addition, year-to-date demand growth
(+3.9%) in the country is outpacing supply (+1.3%) due to a lack
of development space and high construction costs. Occupancy in
Japan has eclipsed 80.0% in seven of eight months this year.
Malaysia reported a 1.5% rise in occupancy to
72.4% but decreases in ADR (-3.3% to MYR372.19) and RevPAR (-1.9%
to MYR269.60). STR Global analysts classify August as generally
one of the strongest months of the year for Malaysia, and the
72.4% occupancy level was the highest in the country since June
2013. However, year-to-date results in the key performance
indicators remain negative with supply growth (+4.2%) outweighing
South Korea saw double-digit declines in
occupancy (-14.4% to 70.1%) and RevPAR (-20.8% to KRW123,507.62).
ADR in the country dropped 7.5% to KRW176,180.47. Demand in South
Korea dropped 29.1% in June and 22.6% in July with the outbreak of
the Middle East Respiratory Syndrome (MERS) virus. While the
outbreak was declared over in July, the economic impact was felt
through August. STR Global analysts note group demand as being
down 24.1% year-to-date due to the outbreak.
Performance of featured markets for August 2015
(local currency, year-on-year comparisons):
Bangkok, Thailand, experienced double-digit
growth in occupancy (+10.4% to 76.3%) and RevPAR (+16.0% to
THB2,469.93). ADR in the market increased 5.1% to THB3,235.02. The
positive results came even with the 17 August bombing attack on
the Erawan Shrine. The performance increases were lower, however,
when compared to a majority of the months this year. Year-to-date,
demand in Bangkok has increased 34.3%. During the same time
period, group demand is up 109.5% as the market facilitates lower
rates when compared to other destinations.
Beijing, China, posted increases in each of the
three key performance metrics. Occupancy in the market increased
2.8% to 78.0%; ADR was up 6.5% to CNY583.14; and RevPAR increased
9.5% to CNY454.67. The 78.0% absolute occupancy level was the
highest for any August in Beijing since 2001. The market hosted
the International Association of Athletics Federation (IAAF) World
Championships on 22-30 August.
Mumbai, India, saw double-digit growth in
occupancy (+11.8% to 72.7%) and RevPAR (+10.4% to INR4,864.69).
ADR in the market dropped 1.2% to INR6,688.11. Occupancy and
RevPAR have increased year-on-year in Mumbai for each of the
first eight months of 2015, and the 72.7% occupancy level was an
August record. Performance results in the market were affected
positively as the India International Jewellery Show shifted from
July in 2014 to August in 2015.
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