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Mon, 24 April 2017

Hotels in Asia Pacific Report Q1 2017 Increase in OR and RevPAR

According to data compiled by STR, the Asia Pacific hotel industry reported mostly positive results in the three key performance metrics during the first quarter of 2017.

In local currency, Q1 2017 vs. Q1 2016, hotels in Indonesia reported an overall increase in occupancy of 4.1% to 57.0%, ADR was up 0.2% to IDR1,015,410.47 and RevPAR increase by 4.3% to IDR578,716.49.

Indonesia’s hotel industry experienced a slight performance rebound after a 4.1% RevPAR decline for total-year 2016. Occupancy was the main performance driver during the quarter, as demand growth (+8.3%) doubled the rate of supply growth (+4.1%).

In Malaysia occupancy grew by 2.2% to 65.3%, ADR was up 4.8% to MYR373.74 and RevPAR increased by 7.2% to MYR244.04.

The private garden, which also includes a pool, of a luxurious suite at The Ritz-Carlton Bali

Malaysia’s hotels benefitted from several factors, including the Chinese New Year festival (28-29 January) and the Langkawi International Maritime and Aerospace Exhibition (21-25 March). The Easter calendar shift from March 2016 to April 2017 also helped performance growth. Demand increased 5.1% for the quarter, outpacing 2.9% supply growth.

In Maldives, occupancy fell by 1.0% to 69.0%, ADR however increase by 2.3% to MVR13,044.63 and RevPAR was up 1.3% to MVR9,000.17.

RevPAR growth was moderate in Maldives despite a 10.3% increase in January. Helped by the Spring Festival Golden Week holiday, the market saw a 32.0% rise in arrivals from Mainland China, according to January figures from the Maldives Ministry of Tourism. RevPAR growth for the quarter became muted with declines in both February (-3.8%) and March (-4.2%). 

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

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