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STR Reports Asia Pacific Hotel Results for February 2015

Travel News Asia Latest Travel News Podcasts Videos Wednesday, 25 March 2015

According to data compiled by STR Global, hotels in the Asia Pacific region experienced negative year-on-year results in the three key performance metrics during February 2015 when reported in U.S. dollars.

The regions occupancy for February fell 3.6% to 64.6%; ADR dropped 3.6% to US$117.64; and RevPAR decreased 7.0% to US$75.97.

Performance by country varied significantly on a local-currency basis:

China experienced a 9.2% decrease in RevPAR to CNY322.45 and an 8.3% decline in occupancy to 54.4%.

Chinese New Year celebrations impacted hotel performance as demand declined by 4.7% in Chinese cities during the month, said Elizabeth Winkle, managing director of STR Global. Chengdu continues to see strong supply growth (+8.5%), putting pressure on performance, resulting in a decline of 18.2% in RevPAR. Hong Kong saw a RevPAR decline of 12.5%.

Japan reported increases in both occupancy (+3.2% to 84.6%) and ADR (+10.6% to JPY13,050.26), resulting in a RevPAR gain of 14.2% to JPY11,042.41.

Japans overall hotel performance grew positively, with RevPAR mainly driven by ADR increases in almost all markets across the country, Winkle said.

Thailand saw the largest increases in occupancy (+26.7% to 86.0%) and RevPAR (+26.7 to THB3,635.33), but the country reported a slight decline in ADR (-0.1% to THB4,225.03).

Myanmar experienced the largest decrease in RevPAR (-22.4% to MMK128,930.16), driven predominantly by a 16.9-decline in occupancy to 67.8%. Winkle noted that a 12.1% year-on-year increase in supply has placed pressure on market occupancy levels.

Highlights from key market performers for February 2015 in local currency (year-on-year comparisons):

* Bangkok, Thailand, experienced the largest occupancy increase, up 53.8% to 86.0%.

* Kuala Lumpur, Malaysia (-22.4% to 59.6%) and Jakarta, Indonesia (-21.6% to 54.9%) reported the largest occupancy decreases.

* Osaka, Japan, reported the largest ADR increase, rising 25.9% to JPY13,629.92. Auckland, New Zealand, followed with a 15.3% increase in ADR to NZD189.10.

* Delhi-National Capital Region, India (-7.4% to INR7,080.85) and Hong Kong (-7.2% to HKD1,654.40) experienced the largest ADR decreases.

* Bangkok (+68.9% to THB3,024.23) reported the largest increase in RevPAR, followed by Osaka (+33.0% to JPY12,348.36).

* Kuala Lumpur experienced the largest decline in RevPAR, down 24.8% to MYR216.64.


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