Hotels in the Asia/Pacific region experienced positive results in the three key performance metrics in 2012 when reported in U.S. dollars, according to data compiled by STR Global.
In 2012, the Asia/Pacific region’s occupancy ended the year virtually flat with a 0.5-percent increase to 68.3 percent, its average daily rate increased 0.9 percent to US$129.26 and its revenue per available room was up 1.4 percent to US$88.25.
“Asia/Pacific, with its 1.4 percent RevPAR increase, saw a slower growth rate in all three key performance indicators during 2012 than during 2011”, said Elizabeth Randall Winkle, managing director of STR Global. “Looking at the underlying factors of supply and demand, demand has been outpacing supply increases over the past three years, and demand grew 3.5 percent during 2012.
The region’s RevPAR of US$88.24 for 2012 is just short of the US$89.71 from 2008, which represents the highest RevPAR achieved over the past 14 years. “Out of the countries we track across the region, Thailand and Japan had strong RevPAR improvements in local currency, highlighting their recoveries from 2011 events”, she continued. “New Zealand, on the other hand, saw the biggest drop of RevPAR across the region with 8.5-percent decline, as the performance compared against the 2011 Rugby World Cup”.
Highlights from key market performers for 2012 in local currency (year-over-year comparisons):
- Bangkok, Thailand (+11.0 percent to 70.5 percent), and Tokyo, Japan (+10.4 percent to 82.5 percent), achieved the largest occupancy increases for the year.
- Ho Chi Minh City, Vietnam, fell 5.4 percent in occupancy to 63.7 percent, posting the largest decrease in that metric, followed by Bali, Indonesia, with a 4.1-percent decrease to 69.8 percent.
- Three markets experienced double-digit ADR increases: Jakarta, Indonesia (+17.9 percent to IDR930,099.39); Taipei, Taiwan (+12.0 percent to TWD5,599.24); and Tokyo (+10.2 percent to JPY14,528.61).
- Four markets achieved RevPAR growth of more than 10 percent: Tokyo (+21.6 percent to JPY11,990.11); Jakarta (+19.0 percent to IDR667,120.13); Bangkok (+16.9 percent to THB2,052.69); and Phuket, Thailand (+10.9 percent to THB2,851.38).
- Auckland, New Zealand, reported the largest ADR (-13.9 percent to NZD136.42) and RevPAR (-15.1 percent to NZD102.62) decreases for the year.
Source: STR Global