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Wed, 23 November 2016

Hotels in Asia Report Almost Flat Results for October 2016

According to October 2016 data compiled by STR, hotels in the Asia Pacific region reported nearly flat results in the three key performance metrics when reported in U.S. dollar constant currency.

Compared with October 2015, hotels in the Asia Pacific region reported a 0.5% increase in occupancy to 71.3%, a slight drop of 0.4% to US$103.77 in ADR, while RevPAR was mostly flat at +0.1% to US$74.02.

Performance of featured countries for October 2016 (local currency, year-on-year comparisons):

India reported its first month with a decline in occupancy (-4.6% to 59.4%) since November 2015. ADR in the country was up 1.4% to INR5,865.97, but RevPAR still fell 3.2% to INR3,484.48.

New Zealand is on course for its second consecutive year with double-digit RevPAR growth. Occupancy rose 3.0% to 80.0%, the nations highest actual occupancy level for any October on record. ADR also increased 12.9% to NZD175.92, resulting in a 16.3% increase in RevPAR to NZD140.79.

Taiwans hotels have struggled since September 2015, and October 2016 was no exception with a 5.5% drop in occupancy to 66.5%. The market recorded relatively flat ADR (+0.2% to TWD5,773.02) for the month, but RevPAR declined 5.4% to TWD3,841.15.

Performance of featured markets for October 2016 (local currency, year-on-year comparisons):

Beijing, China, registered a 0.4% increase in occupancy to 77.2% in addition to a 2.0% rise in ADR to CNY594.63. As a result, RevPAR grew 2.4% to CNY459.16. The markets supply has remained stable (+0.7% year to date), allowing an increase in  demand (+3.4% year to date) to boost performance. The China Open (3-9 October) tennis tournament resulted in several days of strong RevPAR growth, specifically 4 October (+71.3%) and 5 October (+63.2%).

Hong Kong reported positive figures across all three key performance indicators for the first time since April. Occupancy increased 0.6% to 90.6%. ADR was nearly flat, up 0.1% to HKD1583.05, and RevPAR grew 0.7% to HKD1,433.55. This also marked the first time since 2011 in which Hong Kong recorded year-on-year RevPAR growth for an October, following particularly sharp declines in October 2015 (-6.8%) and 2014 (-10.8%).

Sydney, Australia, reported an overall performance decline tied to a significant increase in supply (+4.3%) and an off year for the biennial Pacific International Maritime Exposition. Occupancy fell 4.2% to 84.0%. ADR was up 3.1% to an all-time October high in the market of AUD232.17. RevPAR dipped 1.3% to AUD195.04.

See other recent news regarding: STR, ADR, RevPAR.

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