According to data compiled by STR, hotels in the
Asia Pacific region reported positive results for October 2017.
In U.S. dollar constant currency, October 2017
vs. October 2016, hotels in Asia Pacific reported a 0.7% increase
in Occupancy to 71.7%, ADR was up 2.3% to US$104.15, while RevPAR
increased 2.9% to US$74.68.
In local currency, hotels in Hong Kong reported
a rise in Occupancy Rates of 1.3% to 91.8%, ADR grew 2.6% to
HKD1,395.12 and RevPAR jumped 3.9% to HKD1,281.33.
Despite notable supply growth (+3.1%), occupancy
rose due to a 4.5% year-on-year increase in demand. STR analysts
partially attribute that demand growth to inbound arrivals,
especially from Mainland China. Through the first nine months of
2017, Hong Kong welcomed 20.2 million overnight visitors (+4.3%
y-o-y). Visitors from Mainland China accounted for 67% of
the total (+5.3% y-o-y). Additionally, the National Day
Golden Week (1-7 Oct. every year) and the Mid-Autumn Festival
holiday combined into an eight-day holiday period in 2017. Hong
Kong recorded 5.1% demand growth during the event y-o-y,
resulting in a 13.9% rise in RevPAR during the period.
In Indonesia, hotels reported an 1.9% increase
in Occupancy to 64.4%, ADR was down -1.3% to IDR980,023.75, while
RevPAR rose by 0.6% to IDR630,662.71.
RevPAR grew slightly after three consecutive
years of October declines. The positive performance was largely
driven by key business markets such as Jakarta and Surabaya, where
hotel demand increased 10.0% and 14.4%, respectively. That growth
represented a reversal in the year-to-date trend of demand
declines. Bali suffered a demand decline (-6.2%) in October 2017
due to the ongoing threat around Mount Agung, which has hindered
In Philippines, Occupancy was up 3.1% to 67.4%,
ADR increased 4.4% to PHP5,281.52 and RevPAR jumped 7.6% to
Hotel demand grew 6.9%, surpassing significant
supply growth (+3.7% y-o-y). STR analysts note that
Philippines’ tourism market is expected to remain resilient in
spite of the Malawi incidents this year. Inbound tourist arrivals
increased 11.9% to 4.4 million visitors as of August, according to
PATA. Strong demand from corporate
travelers is also indicated by transient demand growth.
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