According to data compiled by STR, hotels in the
Asia Pacific region reported mostly negative results across the
three key performance metrics in July 2019.
In U.S. dollar constant currency, hotels in Asia
Pacific reported a July 2019 occupancy increase of +0.2% to 73.2%,
ADR dropped -1.5% to US$95.48 and RevPAR fell -1.3% to US$69.91
when compared to July 2018.
In Hong Kong, occupancy decreased -4.1% to
83.4%, while ADR fell -9.1% to HKD1,163.21 and RevPAR plummeted
-12.9% to HKD970.42.
Ongoing protests in Hong
Kong have affected performance levels in the market. Hotel demand
for the month fell 3%, and preliminary figures show a double-digit
decline in visitor arrivals during the second-half of July,
according to the Hong Kong Tourism Board. That steep drop follows
a first half of the year that showed a 13.9% increase in visitor
arrivals. See also:
Cathay Pacific Warns of Significant Impact to Revenue in August
In Singapore, one of Hong Kong's fiercest
rivals, hotel occupancy rose +1.9% to 91.8% while ADR was up +0.5%
to SGD268.79 and RevPAR increased +2.4% to SGD246.80.
The country eclipsed 90% occupancy for the first
time in history. STR analysts note that the transient segment
(bookings of less than 10 rooms) produced strong demand growth
(+7.1%) during the month, while group (bookings of 10 or more
rooms) demand fell 7.2%. According to the Singapore Tourism Board,
the country welcomed 9.3 million international visitors during the
first six months of 2019.
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