By BW Hotelier
HOTELS IN the Asia Pacific region experienced positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2015 data compiled by
STR Global.
Compared to July 2014, the Asia Pacific region reported a 2.1 per cent increase in occupancy to 70.7 per cent, a 1.1 per cent rise in average daily rate to US$105.12 and a 3.2 per cent increase in revenue per available room to US$74.34.
Performance of featured countries for July 2015 (local currency, year-over-year comparisons):
India reported increases in two of the three key performance metrics. Occupancy in the country increased 5.4 per cent to 61.4 per cent; ADR was down 0.7 per cent to INR5611.01; and RevPAR increased 4.7 per cent to INR3447.08.
China reported nearly flat performance. Occupancy in the country increased 0.1 per cent to 69.9 per cent; ADR was down 1.7 per cent to CNY522.27; and RevPAR decreased 1.7 per cent to CNY364.93. Year-to-date supply growth (+4.6 per cent) is slightly outpacing demand (+4.3 per cent) in the country. Preliminary accounting results from the National Bureau of Statistics of China showed GDP growth of 7.0 per cent for the second quarter of 2015.
Maldives experienced increases in each of the three key performance metrics. Occupancy increased 0.3 per cent to 63.1 per cent; ADR was up 2.3 per cent to MVR8,221.88; and RevPAR rose 2.6 per cent to MVR5,186.50. July was the country’s first month of positive occupancy performance since January 2014. Year-to-date supply growth (+1.2 per cent) has significantly outpaced demand performance (-8.5 per cent). As a result, year-to-date occupancy has decreased 9.6 per cent, and RevPAR is down 9.5 per cent during that same time.
Singapore experienced a 1.9 per cent increase in occupancy to 87.4 per cent but decreases in both ADR (-3.1 per cent to SGD279.59) and RevPAR (-1.3 per cent to SGD244.34). According to STR Global analysts, Singapore has seen a reduction in overseas travellers and low demand from business travel. Externally, increased demand for conferences in Bangkok, Thailand, along with more Chinese travellers choosing Europe over Asian destinations, has contributed to year-to-date performance decreases in Singapore.
Thailand saw the largest year-over-year increase in occupancy (+30.5 per cent to 76.5 per cent) of any country in the Asia Pacific region as well as significant growth in RevPAR (+34.5 per cent to THB2,493.66). ADR in the country increased 3.1 per cent to THB3,260.93. Demand growth (+31.9 per cent) outpaced supply (+1.1 per cent) in July, and year-to-date, demand growth is +25.2 per cent compared to supply growth of +1.7 per cent. Comparable months from 2014 saw strong demand challenges due to political turmoil.
Performance of featured markets for July 2015 (local currency, year-over-year comparisons):
Hong Kong, China, saw decreases in the three performance measurements: occupancy (-8.8 per cent to 79.8 per cent), ADR (-12.7 per cent to HKD1,416.12) and RevPAR (-20.4 per cent to HKD1,129.47). STR Global analysts note a significant decline in international arrivals as reason for a 4.9 per cent year-to-date demand decrease in the market. Japan and Australia have also become cheaper destinations as the Hong Kong Dollar has a fixed exchange rate with the U.S. Dollar.
Sanya, China, reported increases in occupancy (+9.2 per cent to 56.1 per cent) and RevPAR (+6.2 per cent to CNY407.52) but a drop in ADR (-2.7 per cent to CNY725.87). The increase in occupancy is due to increased inbound tourism, say STR Global analysts. However, the decline in ADR is due to intensive competition caused by July supply increases.
Sydney, Australia, experienced increases in the three performance metrics: occupancy (+3.7 per cent to 84.2 per cent), ADR (+6.9 per cent to AUD190.62) and RevPAR (+10.9 per cent to AUD160.42). According to STR Global analysts, Sydney properties have focused on rate in order to maximize revenue. Supply in the market has remained relatively flat since January, whilst demand has increased 2.0 per cent during the same time period.
Tokyo, Japan, saw a 1.0 per cent increase in occupancy to 87.5 per cent as well as double-digit growth in ADR (+14.5 per cent to JPY17,807.44) and RevPAR (+15.6 per cent to JPY15,585.04). Year-to-date demand in Tokyo has increased 4.2 per cent, while supply has grown 2.8 per cent. STR Global analysts point to high market compression with limited new supply and a weak Japanese Yen leading to a surge in international leisure arrivals as main reasons behind the strong performance in Tokyo.
Photograph purely representational.
Excerpt from-the report:-
GlobalHotelReviewCC_Media_July_2015
HOTELS IN the Asia Pacific region experienced positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2015 data compiled by STR Global.
Compared to July 2014, the Asia Pacific region reported a 2.1 per cent increase in occupancy to 70.7 per cent, a 1.1 per cent rise in average daily rate to US$105.12 and a 3.2 per cent increase in revenue per available room to US$74.34.
Performance of featured countries for July 2015 (local currency, year-over-year comparisons):
India reported increases in two of the three key performance metrics. Occupancy in the country increased 5.4 per cent to 61.4 per cent; ADR was down 0.7 per cent to INR5611.01; and RevPAR increased 4.7 per cent to INR3447.08.
China reported nearly flat performance. Occupancy in the country increased 0.1 per cent to 69.9 per cent; ADR was down 1.7 per cent to CNY522.27; and RevPAR decreased 1.7 per cent to CNY364.93. Year-to-date supply growth (+4.6 per cent) is slightly outpacing demand (+4.3 per cent) in the country. Preliminary accounting results from the National Bureau of Statistics of China showed GDP growth of 7.0 per cent for the second quarter of 2015.
Maldives experienced increases in each of the three key performance metrics. Occupancy increased 0.3 per cent to 63.1 per cent; ADR was up 2.3 per cent to MVR8,221.88; and RevPAR rose 2.6 per cent to MVR5,186.50. July was the country’s first month of positive occupancy performance since January 2014. Year-to-date supply growth (+1.2 per cent) has significantly outpaced demand performance (-8.5 per cent). As a result, year-to-date occupancy has decreased 9.6 per cent, and RevPAR is down 9.5 per cent during that same time.
Singapore experienced a 1.9 per cent increase in occupancy to 87.4 per cent but decreases in both ADR (-3.1 per cent to SGD279.59) and RevPAR (-1.3 per cent to SGD244.34). According to STR Global analysts, Singapore has seen a reduction in overseas travellers and low demand from business travel. Externally, increased demand for conferences in Bangkok, Thailand, along with more Chinese travellers choosing Europe over Asian destinations, has contributed to year-to-date performance decreases in Singapore.
Thailand saw the largest year-over-year increase in occupancy (+30.5 per cent to 76.5 per cent) of any country in the Asia Pacific region as well as significant growth in RevPAR (+34.5 per cent to THB2,493.66). ADR in the country increased 3.1 per cent to THB3,260.93. Demand growth (+31.9 per cent) outpaced supply (+1.1 per cent) in July, and year-to-date, demand growth is +25.2 per cent compared to supply growth of +1.7 per cent. Comparable months from 2014 saw strong demand challenges due to political turmoil.
Performance of featured markets for July 2015 (local currency, year-over-year comparisons):
Hong Kong, China, saw decreases in the three performance measurements: occupancy (-8.8 per cent to 79.8 per cent), ADR (-12.7 per cent to HKD1,416.12) and RevPAR (-20.4 per cent to HKD1,129.47). STR Global analysts note a significant decline in international arrivals as reason for a 4.9 per cent year-to-date demand decrease in the market. Japan and Australia have also become cheaper destinations as the Hong Kong Dollar has a fixed exchange rate with the U.S. Dollar.
Sanya, China, reported increases in occupancy (+9.2 per cent to 56.1 per cent) and RevPAR (+6.2 per cent to CNY407.52) but a drop in ADR (-2.7 per cent to CNY725.87). The increase in occupancy is due to increased inbound tourism, say STR Global analysts. However, the decline in ADR is due to intensive competition caused by July supply increases.
Sydney, Australia, experienced increases in the three performance metrics: occupancy (+3.7 per cent to 84.2 per cent), ADR (+6.9 per cent to AUD190.62) and RevPAR (+10.9 per cent to AUD160.42). According to STR Global analysts, Sydney properties have focused on rate in order to maximize revenue. Supply in the market has remained relatively flat since January, whilst demand has increased 2.0 per cent during the same time period.
Tokyo, Japan, saw a 1.0 per cent increase in occupancy to 87.5 per cent as well as double-digit growth in ADR (+14.5 per cent to JPY17,807.44) and RevPAR (+15.6 per cent to JPY15,585.04). Year-to-date demand in Tokyo has increased 4.2 per cent, while supply has grown 2.8 per cent. STR Global analysts point to high market compression with limited new supply and a weak Japanese Yen leading to a surge in international leisure arrivals as main reasons behind the strong performance in Tokyo.
Photograph purely representational.
Excerpt from-the report:-GlobalHotelReviewCC_Media_July_2015
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