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STR: Asia Pacific hotel performance for August 2017

September 23, 2017 Hotel Trends No Comments Email Email

Hotels in the Asia Pacific region reported positive results in the three key performance metrics during August 2017, according to data from STR.http://www.granmonte.com/

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

Asia Pacific

  • Occupancy: +3.3% to 75.3%
  • Average daily rate (ADR): +2.3% to US$99.98
  • Revenue per available room (RevPAR): +5.7% to US$75.33

Local currency, August 2017 vs. August 2016

Maldives

  • Occupancy: -2.6% to 64.7%
  • ADR: +9.9% to MVR7,898.31
  • RevPAR: +7.0% to MVR5,110.69

A 3.0% year-over-year increase in supply outpaced relatively flat demand (+0.3%) in the country, but rate growth drove hotel performance for the month. Maldives currently has 19 hotel projects accounting for 2,610 rooms in the pipeline, representing 20.0% of the country’s existing supply.

Singapore

  • Occupancy: +1.8% to 85.8%
  • ADR: -2.6% to SGD273.20
  • RevPAR: -0.8% to SGD234.28

According to the Singapore Tourism Board, the country welcomed 8.54 million tourist visitors in the first half of 2017, a 4.5% increase from H1 2016. Despite a 3.3% increase in demand driving occupancy levels in August, ADR declined for the 18th consecutive month, primarily due to economic struggles, according to STR analysts.

Thailand

  • Occupancy:+2.3% to 80.9%
  • ADR: +3.5% to THB3,440.35
  • RevPAR: +5.9% to THB2,782.71

The absolute occupancy level was the highest for any August on record in the country. According to Thailand’s Ministry of Tourism and Sports, the country welcomed a record 3.13 million tourists in August, which falls in the market’s typical low tourism season. STR analysts note that a stronger Thai baht has yet to deter international visitors, and demand growth (+5.3%) outpaced supply growth (+2.9%) for the month. Thailand currently has 100 hotel projects in the pipeline, accounting for 21,615 rooms, which represents 11% of the country’s existing hotel supply.

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