Hotels across Asia Pacific have reported mixed results in the three key performance metrics, according to the latest data from STR.
In January 2018 when compared to January 2017, hotels across Asia Pacific saw occupancy rise 4.6% to 67.5%, while Average daily rate (ADR) was down 2.8% to US$109.95 and Revenue per available room (RevPAR) was slightly up 1.7% to US$74.18.
Australia was one of the stand-out markets and saw performance growth thanks to strong tourism and corporate business.
In Australia, occupancy rose 1.4% to 74.3%, Average daily rate (ADR) jumped 0.1% to AUD$195.25 and Revenue per available room (RevPAR) rose 1.5% to AUD$145.07.
“The absolute levels in each metric were well above the country’s January historical averages,” STR analysts said.
They attribute the performance to “strong tourism and corporate business, which helped push demand growth to 2.7% year over year”.
“At the same time, supply growth (+1.3%) remained steady. Less affected by new supply, regional markets (RevPAR: +5.6%) fared better than capitals (RevPAR: -0.4%).
“The major outlier was Darwin, with a 32.6% surge in RevPAR to AUD68.72.”
STR analysts said they believed that final construction and investment around liquefied natural gas (LNG) projects boosted performance in the Northern Territory capital.