Mon, 23 July 2018

Hotels in Asia Pacific Report Q2 Increase in ADR, OR and RevPAR

According to data from STR, hotels in the Asia Pacific region posted growth across the three key performance metrics during Q2 2018.

In U.S. dollar constant currency, Q2 2018 vs. Q2 2017, hotels in Asia Pacific reported an 1.0% increase in Occupancy to 70.4%, ADR grew by 3.1% to US$105.00 and RevPAR was up 4.1% to US$73.95.

In local currency, Q2 2018 vs. Q2 2017, hotels in Australia reported a rise of 1.3% in Occupancy to 73.2%, ADR increased by 1.5% to AUD178.57 and RevPAR grew by 2.8% to AUD130.71.

Suite luxury at The Ritz-Carlton, Bali. Click to enlarge.

The 73.2% absolute occupancy level was the highest for any Q2 on record in the country. That came even with 2.1% more room nights available compared with Q2 2017. STR analysts point to the overall health of the Australian hotel industry in absorbing that new supply. The Gold Coast, host of the XXI Commonwealth Games in April, was the standout market with RevPAR up 24.2% to AUD138.38 for the quarter. Performance growth was stronger outside of the capital markets as supply growth had a greater effect on RevPAR comparisons in Perth (-4.5% to AUD 112.99), Sydney (-2.1% to AUD174.70) and Hobart (-0.7% at AUD125.45). However, in absolute values, Sydney remained the top performer in the country.

Hotels in Indonesia reported a rise in Occupancy of 2.5% to 60.6%, ADR was up 3.5% to IDR1,039,439.08, and RevPAR jumped 6.1% to IDR629,692.74.

The 60.6% absolute occupancy level was the best for a Q2 in Indonesia since 2014. STR analysts note that performance increases were seen in Bali (+9.1%), Jakarta (+4.1%), Surabaya (+7.4%) and Yogyakarta (+8.7%). In June specifically, Baliís RevPAR grew 15.9% to ID1,217,727.89 with demand lifted by Eid al-Fitr and the school holiday.

Hotels in Singapore saw Occupancy grow by 2.9% to 81.3%, ADR inched slightly higher by 0.9% to SGD263.58 and RevPAR was up 3.8% to SGD214.39.

Even with significant supply growth (+4.5%), Singaporeís 81.3% occupancy level was the highest for a Q2 in the country since 2013. June was the strongest month of the quarter with RevPAR up 6.9% to SGD216.96. The countryís demand was boosted by the North Korea-U.S. Summit on 12 June. Hotels in the Orchard Area, specifically, reported high ADR premiums and three consecutive days with double-digit RevPAR growth from 10-12 June.

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