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STR: RevPAR, ADR down across Asia Pacific in May

Shangri-La Hotel Sydney view

Hotels in the Asia Pacific region experienced mixed year-over-year results in the three key performance metrics during May 2015 when reported in U.S. Dollars, according to data compiled by STR Global.

The region’s occupancy for May increased 1.4 percent to 68.1 percent. However, average daily rate in the Asia Pacific region dropped 6.9 percent to US$105.54, and its revenue per available room decreased 5.7 percent to US$71.84.

Performance by country varied significantly on a local-currency basis:
-Thailand reported the largest increases in occupancy (+22.9 percent to 68.3 percent) and RevPAR (+20.9 percent to THB2,151.01). ADR in Thailand was down 1.6 percent to THB3,150.54. Thailand’s performance continues to improve in year-over-year comparisons, most notably in Bangkok, as the country is further removed from last year’s coup d’état.
-Myanmar experienced the steepest decline in occupancy (-27.4 percent to 41.4 percent) and RevPAR (-26.4 percent to MMK69,522.58). The country continues to be affected by a significant amount of new supply in the market.
-French Polynesia posted the largest increase in ADR, rising 16.2 percent to XPF40,657.53. Japan followed with a 12.9-percent rise in ADR to JPY14,666.02.
-South Korea reported the largest decrease in ADR, down 6.9 percent to KRW184,206.00.
-Japan (+16.2 percent to JPY12,223.56) and French Polynesia (+15.8 percent to XPF28,762.75) also posted double-digit increases in RevPAR.

According to STR Global analysts, the devaluation of the Japanese Yen has made Japan a cheaper option for travellers.

South Korea (-13.4 percent to KRW129,804.99) and Maldives (-10.6 percent to MVR5,257.00) were the two markets in addition to Myanmar to report double-digit drops in RevPAR.

Highlights from key market performers for May 2015 in local currency (year-over-year comparisons):
-Bangkok experienced the largest occupancy increase, up 31.6 percent to 71.6 percent. Three additional markets saw double-digit increases in occupancy: Hanoi, Vietnam (+22.8 percent to 72.3 percent); Sanya, China (+16.1 percent to 52.8 percent); and Phuket, Thailand (+14.1 percent to 60.5 percent).
-Ho Chi Minh City, Vietnam, recorded the largest decrease in occupancy, dropping 8.5 percent to 59.1 percent.
-Osaka, Japan, reported the largest ADR increase, rising 24.5 percent to JPY15,667.06. Tokyo, Japan (+12.2 percent to JPY18,345.00), posted the region’s other double-digit increase in ADR.
-Affected by a continued drop in government spending, Hong Kong experienced the only double-digit ADR decrease, down 15.6 percent to HKD1,501.49. The Occupy Central campaign and anti-Mainland tourist activities also have played a role in the negative performance in Hong Kong, according to STR Global analysts.
-Bangkok (+35.8 percent to THB2,223.22) reported the largest increase in RevPAR, followed by Osaka (+31.0 percent to JPY14,042.75).
-Hong Kong (-21.5 percent to HKD1,181.73) experienced the largest RevPAR decrease. Two other markets reported double-digit declines in RevPAR: Seoul, South Korea (-15.1 percent to KRW146,571.12), and Kuala Lumpur, Malaysia (-10.1 percent to MYR217.37).

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