Hotels in the Asia Pacific region experienced nearly flat performance in the three key performance metrics when reported in U.S. dollar constant currency, according to June 2015 data compiled by STR Global.
Compared to June 2014, the Asia Pacific region reported a 0.2% decrease in occupancy to 66.2%, a 0.1% drop in average daily rate to US$102.32 and a 0.3% decline in revenue per available room to US$67.70.
Performance of featured countries for June 2015 (local currency, year-over-year comparisons):
Australia saw a 2.9% increase in occupancy to 70.8%. ADR in the country was up 0.4% to AUD171.21, and RevPAR rose 3.4% to AUD121.27. Year-to-date demand growth (+3.1%) in Australia has been outpacing supply growth (+1.6%). The country also shows a 7.8% year-over-year increase in year-to-date group demand.
India recorded increases in each of the three key performance metrics: occupancy (+7.4% to 58.1%), ADR (+0.2% to INR5,162.58) and RevPAR (+7.6% to INR2,997.27). According to STR Global analysts, India’s gross domestic product grew significantly during the first quarter of 2015. With a new government in power, the economy in India is showing more stability and a better investment climate.
Indonesia saw a double-digit decline in occupancy (-18.6% to 58.7%) and RevPAR (-14.9% to IDR639,437.92), but the country’s ADR was up 4.6% to IDR1,088,806.89. STR Global analysts cite government austerity measures as the main reason behind the occupancy drop in Indonesia. Markets such as Jakarta, Bandung and Bali saw demand drop and occupancy fall shortly after the austerity measures were put into practice during the fourth quarter of 2014.
South Korea reported declines in the three key performance measurements: occupancy (-33.9% to 49.3 %), ADR (-10.8% to KRW168,882.57) and RevPAR (-41.0% to KRW83,289.96). Tourism in the country is struggling to recover from the recent MERS outbreak.
Performance of featured markets for June 2015 (local currency, year-over-year comparisons):
Beijing, China, experienced increases in the three key performance metrics. Occupancy in the market rose 3.6% to 73.1%; ADR was up 2.0% to CNY586.45; and RevPAR increased 5.7% to CNY428.43. Year-to-date demand growth (+5.9%) has been outpacing supply growth (+2.2%) in the market. Beijing also hosted SINO-Dental 2015 and The 11th China International Coal Equipment & Mine Technical Equipment Exhibition (CICEME 2015) during the month.
Manila, Philippines, saw a 2.8% decrease in occupancy to 61.6%, but ADR was up 3.4% to PHP5,709.49, and RevPAR rose 0.5% to PHP3,514.71.
Phuket, Thailand, posted double-digit increases in occupancy (+20.4% to 58.2%) and RevPAR (+14.1% to THB1,606.08). ADR in the market declined 5.3% to THB2,757.45.