Asia Hotels: Patchy performance

27 Oct 2014 2094 | Cambodia Events & Sports

LONDON Hotels in Southeast Asia suffered occupancy losses in September led by declines in Thailand, Indonesia and Vietnam.
Bangkok hotels recorded the largest occupancy decline at 11.6% and the only double-digit RevPAR decrease of 11.0% to give the city an average rate of THB1,925.54.
In the rest of Asia Pacific there were mixed results, during September, according to data compiled by STR Global which reports results in USD.
inside no 6.1 The Asia Pacific region’s occupancy rose 0.9% to 69.2%; its average daily rate fell 2.2%to USD112.31; and its revenue per available room was down 1.3% to USD77.67.
“Southeast Asia was the only sub-region to see occupancy losses (-3.9%) in September, driven by declines in Thailand, Vietnam and Indonesia”, said STR Global managing director Elizabeth Winkle.
“On the other hand, central and South Asia reported occupancy growth during this month, primarily driven by India. Confidence in the newly elected government and an upgraded economic outlook have been reasons cited for performance increases”.
Highlights from key market performers for September 2014 in local currency (year-over-year comparisons):
* Taipei, Taiwan (+9.4% to 66.3%), and Shanghai, China (+8.5% to 74.2%), reported the largest occupancy increases.
* Bangkok, Thailand, fell 11.6% to 64.5%, recording the largest decrease.
* Osaka, Japan, jumped 15.2% to JPY12,739.69 in ADR, achieving the largest increase.
* Delhi-NCR, India, reported the largest ADR decrease, falling 4.2% to INR5,940.01.
* Four markets experienced double-digit RevPAR increases: Osaka (+22.3% to JPY11,465.29); Taipei (+14.6% to TWD4,262.24); Shanghai (+13.3% to CNY471.64); and Mumbai, India (+10.5% to INR4,999.66).
* Bangkok reported the only double-digit RevPAR decrease, falling 11.0% to THB1,925.54.
Highlights from key market performers for September in US dollars (year-over-year comparisons):
* Mumbai (+4.3% to USD114.38) and Shanghai (+4.3% to USD103.20) recorded the largest ADR growth in September.
Illuminated Parisian hotel sign taken at dusk* Bali, Indonesia, reported the largest ADR decrease, falling 5.6% to USD131.99. Tokyo, Japan, followed with a 5.4% decrease to USD147.23.
* Three markets achieved double-digit RevPAR increases: Shanghai (+13.2% to USD76.61); Mumbai (+13.0% to USD81.18); and Taipei (+11.4% to USD139.88).
* Bangkok experienced the only double-digit RevPAR decrease, falling 13.8% to USD59.39.
Year-to-date September 2014 when reported in US dollars, the Asia Pacific region’s occupancy rose 0.8% to 68.1%; its ADR fell 2.4% to USD116.15; and its RevPAR decreased 1.6% to USD79.07.
“From a year-to-date perspective, at this time last year supply growth in Asia Pacific was outpacing demand. The equilibrium has shifted and this year demand is outpacing supply, Winkle commented. Since the recovery in 2010, demand outpacing supply has become the usual trend for the region”.
STR Global (www.strglobal.com) provides clients-including hotel operators, developers, financiers, analysts and suppliers to the hotel industry-access to hotel research with regular and custom reports covering Europe, Middle East, Africa, Asia/Pacific and South America.