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STR: Asia-Pacific properties up in January

Wat Arun, the Temple of the Dawn, shines across the Chao Phraya River in Bangkok, Thailand.

Wat Arun in Bangkok, Thailand

Hotels in the Asia Pacific region reported positive results in the three key performance metrics when reported in U.S. Dollar constant currency, according to January 2016 data from STR Global.

Compared with January 2015, the Asia Pacific region reported a 3.5% increase in occupancy to 66.1%.

Average daily rate for the month was up 0.4% to US$104.60. Revenue per available room grew 4.0% to US$69.15.

Key standout cities for January 2016 included:

Bangkok, Thailand, posted increases across the three key performance metrics: occupancy (+4.5% to 80.6%), ADR (+3.1% to THB3,547.66) and RevPAR (+7.8% to THB2,858.54). Stable supply growth (+0.6%) coupled with rising demand (+5.1%) drove performance in the market.

Ho Chi Minh City, Vietnam, saw a 2.5% decrease in occupancy to 71.5%. However, a 6.9% lift in ADR to VND2,704,585.77 pushed a 4.3% increase in RevPAR to VND1,934,998.12. The absolute RevPAR level was the highest for any January on record in Ho Chi Minh City.

Jakarta, Indonesia, reported decreases in each of the three key performance metrics: occupancy (-6.2% to 49.5%), ADR (-2.1% to IDR1,115,912.88) and RevPAR (-8.1% to IDR552,866.35). STR Global analysts saw no impact on demand from the 14 January terrorist attack in the market. Rather, a 6.5% increase in supply was the reason behind absolute occupancy hitting its lowest level for a January since 2006. Additionally, demand remains volatile due to government austerity measures that began in 2014.

Taipei, Taiwan, reported flat occupancy at 64.8% and slight decreases in ADR (-0.6% to TWD6,381.76) and RevPAR (-0.6% to TWD4,138.34). The steady performance across the board came as both supply and demand increased 4.6% for the month.


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