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Thu, 25 February 2016

Hotels in Asia Report January 2016 Increase in ADR, OR and RevPAR

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

Compared with January 2015, hotels in the Asia Pacific region reported a 3.5% increase in occupancy to 66.1%, ADR was up 0.4% to US$104.60 and RevPAR grew 4.0% to US$69.15.

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

India recorded positive results in occupancy (+4.7% to 66.1%) and RevPAR (+5.1% to INR4,081.56). ADR (+0.3% to INR6,173.58) in the country remained steady. The 66.1% absolute occupancy level was the highest for a January in India since 2008.

Japan saw occupancy remain nearly flat (+0.3% to 74.1%), but a double-digit rise in ADR (+10.3% to JPY14,084.18) drove RevPAR growth (+10.5% to JPY10,441.81) into double figures. Japan has now posted 10 consecutive months of double-digit ADR increases. In addition, absolute occupancy was the highest on record for any January.

Myanmar experienced declines in occupancy (-11.9% to 49.9%) and RevPAR (-4.8% to MMK101,719.01). ADR in the country was up 8.0% to MMK203,849.50. Demand in the country has decreased year-on-year for 17 straight months, leading to continued drops in RevPAR.

South Korea saw a minor lift in occupancy (+0.6% to 61.0%) but decreases in ADR (-3.2% to KRW165,532.29) and RevPAR (-2.6% to KRW100,914.39). The occupancy increase was the first for the country since September 2014. Demand in the country began to pick up slowly during the fourth quarter of 2015 after several months of significant decreases caused by the Middle East Respiratory Syndrome (MERS) outbreak.

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

Bangkok, Thailand, posted increases across the three key performance metrics: occupancy (+4.5% to 80.6%), ADR (+3.1% to THB3,547.66) and RevPAR (+7.8% to THB2,858.54). Stable supply growth (+0.6%) coupled with rising demand (+5.1%) drove performance in the market.

Ho Chi Minh (Saigon), Vietnam, saw a 2.5% decrease in occupancy to 71.5%. However, a 6.9% lift in ADR to VND2,704,585.77 pushed a 4.3% increase in RevPAR to VND1,934,998.12. The absolute RevPAR level was the highest for any January on record in Ho Chi Minh.

Jakarta, Indonesia, reported decreases in each of the three key performance metrics: occupancy (-6.2% to 49.5%), ADR (-2.1% to IDR1,115,912.88) and RevPAR (-8.1% to IDR552,866.35). STR Global analysts saw no impact on demand from the 14 January terrorist attack in the market. Rather, a 6.5% increase in supply was the reason behind absolute occupancy hitting its lowest level for a January since 2006. Additionally, demand remains volatile due to government austerity measures that began in 2014.

Taipei, Taiwan, reported flat occupancy at 64.8% and slight decreases in ADR (-0.6% to TWD6,381.76) and RevPAR (-0.6% to TWD4,138.34). The steady performance across the board came as both supply and demand increased 4.6% for the month.

See other recent news regarding: STR, ADR, RevPAR

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