Asia Pacific hotel performance for Q2 2019
Hotels in the Asia Pacific region reported negative results across the three key performance metrics during the second quarter of 2019, according to data from STR.
U.S. dollar constant currency, Q2 2019 vs. Q2 2018
· Occupancy: -1.0% to 69.1%
· Average daily rate (ADR): -0.7% to US$97.32
· Revenue per available room (RevPAR): -1.6% to US$67.25
Local currency, Q2 2019 vs. Q2 2018
· Occupancy: -6.7% to 51.4%
· ADR: +1.9% to IDR1,028,317.03
· RevPAR: -4.9% to IDR528,620.82
STR analysts note that the Indonesian general election period in April and May protests and riots had only a limited impact on quarterly performance. Due to the Ramadan calendar shift, May was the worst performing RevPAR month of the quarter (-17.3%), whereas June produced significant RevPAR growth (+25.3%).
· Occupancy: -1.1% to 66.9%
· ADR: +3.9% to PHP5,247.14
· RevPAR: +2.8% to PHP3,510.40
Although occupancy fell slightly due to supply growth (+4.6%), strong demand (+3.5%) helped hoteliers push room rates. According to the Philippines Department of Tourism, the country saw a 9.8% increase in international arrivals during the first five months of 2019. Additionally, STR analysts note that the Tourism Promotions Board Philippines picked Metro Manila as a Meetings, Incentives, Conventions and Exhibitions/Events (MICE) location, which will help boost performance levels.
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.
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