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Wed, 22 Nov 2017

Hotels in Asia Pacific Report October 2017 Increase in ADR, OR and RevPAR

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.

View from a room at The Park Lane Hong Kong, a Pullman Hotel. Click to enlarge.

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 MICE business.

In Philippines, Occupancy was up 3.1% to 67.4%, ADR increased 4.4% to PHP5,281.52 and RevPAR jumped 7.6% to PHP3,561.08.

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

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