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STR: Asia Pacific hotel performance for April 2017

May 27, 2017 Hotel Trends No Comments Email Email

The hotel industry in the Asia Pacific region reported positive results in the three key performance metrics during April 2017, according to data from STR.http://www.deevanahotels.com/

U.S. dollar constant currency, April 2017 vs. April 2016

Asia Pacific

  • Occupancy: +3.5% to 72.6%
  • Average daily rate (ADR): +0.8% to US$102.18
  • Revenue per available room (RevPAR): +4.4% to US$74.17

Local currency, April 2017 vs. April 2016

Japan

  • Occupancy: +2.2% to 85.9%
  • ADR: +2.3% to JPY16,613.68
  • RevPAR: +4.6% to JPY14,268.23

Helped by the Hanami cherry blossom season, hotels in Japan experienced a 4.0% increase in demand. That rise in rooms sold came as the country reported 1.8% growth in supply, which was the highest for any month in Japan since March 2012. At the market level, Kyoto posted a 7.3% increase in supply, while Tokyo posted a 4.8% increase. At the same time, each market reported occupancy above 90%.

Philippines 

  • Occupancy: -4.4% to 70.0%
  • ADR: +3.5% to PHP5,465.48
  • RevPAR: -1.0% to PHP3,828.07

Performance was negatively affected by the Easter calendar shift (March 2016 to April 2017), and demand dropped 1.9% year over year. Manila experienced the most significant performance loss, with a 7.4% decline in RevPAR. Meanwhile, RevPAR grew 28.2% for Cebu Metro submarket and 24.3% for the Philippines Area market. STR analysts attribute that growth to domestic travel during the holiday.

Singapore

  • Occupancy: -1.7% to 81.1%
  • ADR: -3.9% to SGD268.19
  • RevPAR: -5.5% to SGD217.47

The addition of nearly 2,000 rooms to Singapore’s hotel supply during the past 12 months has weighed on performance. STR analysts note that a decline in events held in the market also has contributed to a 9.0% decrease in Group (bookings of 10 or more rooms at a time) occupancy through April. Singapore has seen increased competition for events from destinations in Vietnam and Myanmar.

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