STR: Asia Pacific hotel performance for September 2018
Hotels in the Asia Pacific region posted mixed results across the three key performance metrics during September 2018, according to data from STR.
U.S. dollar constant currency, September 2018 vs. September 2017
Occupancy: -2.7% to 69.2%
Average daily rate (ADR): +2.8% to US$106.24
Revenue per available room (RevPAR): +0.1% to US$73.47
STR analysts note that key markets in the region, such as Thailand, saw a softening in demand growth from mainland China.
Local currency, September 2018 vs. September 2017
Occupancy: -4.2% to 82.8%
ADR: +8.1% to HKD1,458.29
RevPAR: +3.6% to HKD1,206.94
Hong Kong hotels have posted a year-over-year increase in RevPAR for 17 consecutive months. According to STR analysts, the September increase had to be driven primarily by ADR growth as Typhoon Mangkhut led to three days with double-digit declines in demand and occupancy (15-17 September).
Occupancy: -14.7% to 76.9%
ADR: -6.3% to JPY14,018.50
RevPAR: -20.1% to JPY10,774.26
RevPAR has declined year over year for seven consecutive months in the market. STR analysts note that Typhoon Jebi had a significant impact on Osaka’s performance levels as did continued significant supply growth.
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, and an international headquarters in London, England. For more information, please visit str.com.
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