Hotels in the Asia Pacific region experienced positive results in two of the three key performance metrics when reported in U.S. dollar constant currency, according to September 2015 data compiled by STR Global.
Compared to September 2014, the Asia Pacific region reported a 0.5% decrease in occupancy to 68.1%. However, average daily rate was up 2.0% to US$108.23, and revenue per available room increased 1.6% to US$73.71.
Performance of featured countries for September 2015 (local currency, year-over-year comparisons):
China reported slight decreases in each of the three key performance metrics: occupancy (-0.6% to 64.9%), ADR (-1.2% to CNY548.27) and RevPAR (-1.8% to CNY355.97). Supply growth (+3.6%) outpaced demand (+3.0%) for September, and the slowdown in the country’s economy has come under global scrutiny. According to the National Bureau of Statistics of China, the country’s annual inflation rate was recorded at 1.6% in September, down from 2.0% in August. In addition, China’s economy grew by 6.9% during the third quarter, down from 7.0% in each of the first two quarters of the year.
New Zealand posted a 1.9% increase in occupancy to 74.7%, a 5.8% rise in ADR to NZD149.14 and a 7.8% increase in RevPAR to NZD111.33. Demand in the country was up 2.6% for the month, while supply remained nearly flat at +0.6%.
Taiwan recorded a 2.3% decrease in occupancy to 63.0%, a 1.7% drop in ADR to TWD5,671.17 and a 4.0% decrease in RevPAR to TWD3,573.69. Demand in the country slipped 1.3% for the month. Also in late September, the Central Bank of Taiwan cut its interest rate to 1.75%, the first such cut in the country since 2009.
Performance of featured markets for September 2015 (local currency, year-over-year comparisons):
Delhi-National Capital Region, India, saw a 2.1% increase in occupancy to 62.9% but decreases in ADR (-5.0% to INR5,602.49) and RevPAR (-3.0% to INR3,525.79). STR Global analysts note a September group ADR decline of 25.8% in the market.
Ho Chi Minh City, Vietnam, reported increases in each of the three key performance metrics: occupancy (+2.5% to 61.9%), ADR (+7.3% to VND2,530,286.81) and RevPAR (+10.0% to VND1,565,411.12). The positive performance came as demand growth (+9.8%) outpaced supply (+7.2%).
Phuket, Thailand, experienced a 6.8% increase in occupancy to 59.1%, a 1.5% rise in ADR to THB2,740.18 and an 8.4% increase in RevPAR to THB1,619.93. Demand growth (+8.9%) in the market was significant, and ADR increased for the first time in 15 months.