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STR: Asia Pacific hotel performance for Q2 2018

July 28, 2018 Hotel Trends No Comments Email Email

Hotels in the Asia Pacific region posted growth across the three key performance metrics during Q2 2018, according to data from STR.http://www.tourismlegal.com.au/

U.S. dollar constant currency, Q2 2018 vs. Q2 2017

Asia Pacific

  • Occupancy: +1.0% to 70.4%
  • Average daily rate (ADR): +3.1% to US$105.00
  • Revenue per available room (RevPAR): +4.1% to US$73.95

Local currency, Q2 2018 vs. Q2 2017

Australia

  • Occupancy: +1.3% to 73.2%
  • ADR: +1.5% to AUD178.57
  • RevPAR: +2.8% to AUD130.71

The 73.2% absolute occupancy level was the highest for any Q2 on record in the country. That came even with 2.1% more room nights available compared with Q2 2017. STR analysts point to the overall health of the Australian hotel industry in absorbing that new supply. Gold Coast, host of the XXI Commonwealth Games in April, was the standout market with RevPAR up 24.2% to AUD138.38 for the quarter. Performance growth was stronger outside of the capital markets as supply growth had a greater effect on RevPAR comparisons in Perth (-4.5% to AUD 112.99), Sydney (-2.1% to AUD174.70) and Hobart (-0.7% at AUD125.45). However, in absolute values, Sydney remained the top performer in the country.

Indonesia

  • Occupancy: +2.5% to 60.6%
  • ADR: +3.5% to IDR1,039,439.08
  • RevPAR: +6.1% to IDR629,692.74

The 60.6% absolute occupancy level was the best for a Q2 in Indonesia since 2014. STR analysts note that performance increases were seen in Bali (+9.1%), Jakarta (+4.1%), Surabaya (+7.4%) and Yogyakarta (+8.7%). In June specifically, Bali’s RevPAR grew 15.9% to ID1,217,727.89 with demand lifted by Eid al-Fitr and the school holiday.

Singapore

  • Occupancy: +2.9% to 81.3%
  • ADR: +0.9% to SGD263.58
  • RevPAR: +3.8% to SGD214.39

Even with significant supply growth (+4.5%), Singapore’s 81.3% occupancy level was the highest for a Q2 in the country since 2013. June was the strongest month of the quarter with RevPAR up 6.9% to SGD216.96. According to STR analysts, the country’s demand was boosted by the North Korea-U.S. Summit on 12 June. Hotels in the Orchard Area, specifically, reported high ADR premiums and three consecutive days with double-digit RevPAR growth from 10-12 June.

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