STR Global: Asia/Pacific Hotel results for May
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Posted by AZURE Recruitment
Hotels in the Asia/Pacific region experienced decreases in the three key performance metrics in May 2013 when reported in U.S. dollars, according to data compiled by STR Global.
In May, the Asia/Pacific region’s occupancy ended the month with a 1.3-percent decrease to 65.9 percent, its average daily rate dropped 2.5 percent to US$119.69 and its revenue per available room was down 3.8 percent to US$78.82.
“In U.S. dollars, Asia/Pacific was the only global region to report negative RevPAR growth year-to-date 2013, falling 3.1 percent”, said Elizabeth Winkle, managing director of STR Global. “The RevPAR decrease was mainly driven by Central/South Asia, where countries such as India are suffering from oversupply, and in Northeastern Asia, where countries such as China are reigning in spending. However, Southeast Asia is reporting strong growth, where markets such as Jakarta are posting an 18.2 percent growth in ADR year-to-date 2013; ADR growth is driving RevPAR performance in this region”.
Highlights from key market performers for May in local currency (year-over-year comparisons): – Tokyo, Japan, rose 5.8 percent in occupancy to 85.4 percent, reporting the largest increase in that metric. – Taipei, Taiwan (+16.0 percent to TWD6,248.09), and Jakarta, Indonesia (+13.7 percent to IDR1,056,378.88), achieved the largest ADR increases in May. – Three markets experienced double-digit RevPAR increases: Tokyo (+13.9 percent to JPY13,458.47); Jakarta (+11.3 percent to IDR752,117.98); and Osaka, Japan (+10.2 percent to JPY9,330.47). – Seoul, South Korea, reported the largest decrease in all three key performance metrics. The market’s occupancy fell 12.9 percent to 74.0 percent, its ADR was down 9.2 percent to KRW199,503.81 and its RevPAR decreased 20.9 percent to KRW147,594.17.
Highlights from key market performers for May in U.S. dollars (year-over-year comparisons): – Three markets experienced double-digit ADR increases:
Taipei (+14.9 percent to US$207.96)
Auckland, New Zealand (+12.3 percent to US$112.49)
Jakarta (+10.0 percent to US$107.43).
Tokyo fell 15.6 percent in ADR to US$155.91, reporting the largest decrease in that metric. – Auckland experienced the only double-digit RevPAR increase, rising 15.9 percent to US$82.23. – Seoul fell 17.4 percent in RevPAR to US$130.61, reporting the largest decrease in that metric, followed by Osaka (-13.5 percent to US$92.36) and Tokyo (-10.7 percent to US$133.22).