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Mon, 26 Aug 2019

Hotels in APAC Report July 2019 Drop in ADR; Hong Kong RevPAR Down -12.9%

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.

Courtyard Suite Bedroom at The Raffles Hotel Singapore. http://www.asiatraveltips.com/news19/18-RafflesHotelSingapore.shtml Click to enlarge.

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 and Beyond.

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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