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Asia-Pacific hotel occupancies plunge as they buck trend

March 5, 2014 Headline News, Hotel News No Comments Email Email

egtmedia59Hotels in the Asia Pacific region registered drops in the three key performance measures during January 2014 when reported in US dollars, according to data compiled by STR Global.

The region’s occupancy for January fell 3.6% to 62.1%; its average daily rate dropped 1.9% to USD 125.75; and its revenue per available room decreased 5.4% to USD 78.03. Performance rose in Australia but plunged in Thailand, which has been racked with ongoing demonstrations and civil unrest. More-fun-in-the-Philippines_250X250px

“Performance in the Asia Pacific region is showing vastly different trends compared with the other world regions”, said Elizabeth Winkle, managing director of STR Global.

“There has not been a lot of positive news coming out of the region, and that is reflected in hotel performance in January. Australia and Oceania was the only sub-region to report positive occupancy growth (+3.0% to 72.6%).

“Thailand performance was varied in January, as the country reported declines in both occupancy (-13.8%) and RevPAR (-3.9%), when measured in local currency”, Winkle continued.

“Bangkok reported steep performance declines while ADR and RevPAR in Phuket were positive when measured in local currency”.

Highlights from key market performers for January 2014 in local currency (year-over-year comparisons):

  • Bali, Indonesia, reported the only double-digit occupancy increase, rising 10.2% to 66%.
  • Four markets experienced double-digit occupancy decreases: Bangkok, Thailand (-25.8% to 57%); Beijing, China (-13.8% to 54.7%); Hanoi, Vietnam (-10.7% to 60.8%); and Ho Chi Minh City, Vietnam (-10% to 65%).
  • Four markets achieved double-digit ADR increases: Osaka, Japan (+15.5% to JPY11,539.87); Bali (+14.8% to IDR1,696,229.43); Jakarta, Indonesia (+14.1% to IDR1,195,236.36); and Tokyo, Japan (+10.1% to JPY15,813.03).
  • Delhi-NCR, India, fell 6.6% to INR6,823.62 in ADR, posting the largest decrease in that metric.
  • Bali (+26.5% to IDR1,119,473.83) and Osaka (+20.3% to JPY8,977.59) experienced the largest RevPAR increases.
  • Bangkok fell 22.1% to THB1,985.23 in RevPAR, experiencing the largest decrease in that metric. 

Highlights from key market performers for January 2014 in U.S. dollar (year-over-year comparisons):

  • Auckland, New Zealand, increased 3.8% to USD 116.54 in ADR, reporting the largest increase in that metric.
  • Delhi-NCR (-20.4% to USD 108.75) and Mumbai, India (-19.1% to USD 120.68) reported the largest ADR decreases.
  • Auckland achieved the largest RevPAR growth, increasing 7.7% to USD 88.23. Osaka followed with a 6.9-percent increase to USD 87.62.
  • Bangkok experienced the largest RevPAR decline, falling 29.8% to USD 60.10. 

Edited by : Peter Needham

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