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STR Reports July 2014 Performance of Hotels in Asia Pacific

Travel News Asia Videos Podcasts Latest Travel News Asia Tuesday, 26 August 2014
 

According to data compiled by STR Global, hotels in the Asia Pacific region experienced mostly positive results during July 2014 when reported in U.S. dollars.

In July 2014, the regions occupancy rose 0.3% to 70.0%; ADR remained virtually flat rising, 0.2% to US$112.44; and RevPAR was up 0.5% to US$78.73.

On a 12-month-moving-average basis, Asia Pacific has seen a supply increase of 3.7%, and at the same time demand has risen by 4.8%, said Elizabeth Winkle, managing director of STR Global. The result of demand outpacing supply is that we see positive occupancy growth (+1.1%) for the region, achieving occupancy of 68.6%.

Highlights from key market performers for July 2014 in local currency (year-on-year comparisons):

Mumbai, India, reported the only double-digit occupancy increase, rising 10.7% to 64.2%.

Jakarta, Indonesia (-22.0% to 49.8%), and Bangkok, Thailand (-21.1% to 56.4%), reported the largest occupancy decreases.

Osaka, Japan, rose 16.8% in ADR to JPY12,880.81, achieving the largest increase in that metric. Bali, Indonesia, followed with an 11.2% increase to IDR1,745,651.85.

Sydney, Australia, fell 5.1% in ADR to A$179.49, posting the largest decrease in that metric.

Four markets experienced double-digit RevPAR increases: Osaka (+19.6% to JPY11,244.05); Bali (+18.4% to IDR1,310,345.40); Taipei, Taiwan (+15.4% to TWD3,979.56); and Mumbai (+10.3% to INR4,362.32).

Bangkok (-20.7% to THB1,663.09) and Kuala Lumpur, Malaysia (-20.0% to MYR206.20), reported the largest RevPAR decreases during July.

Highlights from key market performers for July 2014 in U.S. dollars (year-on-year comparisons):

Seoul, South Korea (+12.5% to US$193.39), and Osaka (+11.9% to US$125.81) reported the largest ADR increases during July.

Delhi-NCR, India, fell 4.6% in ADR to US$91.70, posting the largest decrease in that metric.

Four markets achieved double-digit RevPAR increases: Taipei (+15.2% to US$132.53); Osaka (+14.6% to US$109.82); Auckland, New Zealand (+14.0% to US$83.66); and Mumbai (+10.6% to US$72.46).

Jakarta (-23.7% to US$47.43) and Bangkok (-22.3% to US$52.05) reported the largest RevPAR decreases.

Year to date, Osaka reported a strong increase in rate (+16.6%) and reported one of the highest RevPAR growths for the month (+18.9%) in local currency. The city and Japan as a whole are seeing improvement due to the devaluation of the Yen and general economic recovery, Elizabeth added. Bali (+17.3%) and Tokyo (+10.8%) also reported strong year-to-date RevPAR growth.

STR, ADR, RevPAR, July 2014

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