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Melbourne hotel supply climbs and rates almost keep up

September 26, 2018 Headline News No Comments Email Email

Despite August being one of the colder months of the year, absolute occupancy for Melbourne hotels was the highest for any month since March 2018, according to preliminary data for the month released by STR.

The absolute average daily rate (ADR) level would be the highest for an August since 2014, while the absolute revenue per available room (RevPAR) level would be the highest for an August since 2013.

Based on daily data from August, Melbourne reported the following in year-over-year comparisons:

Supply: +2.5%

Demand: +1.6%

Occupancy: -0.9% to 84.0%

Average daily rate (ADR): +2.2% to AUD179.89

Revenue per available room (RevPAR): +1.3% to AUD151.18

Meanwhile, hotels across the Asia Pacific region posted positive results across the three key performance metrics during August 2018, according to STR data.

Comparisons year-to-year using US dollar constant currency, August 2018 vs August 2017

Asia Pacific

  • Occupancy: +1% to 75.7%
    • Average daily rate (ADR): +2.4% to US$109.06
    • Revenue per available room (RevPAR): +3.4% to US$82.53

Two Asia Pacific examples (local currency, year on year):

Jakarta

  • Occupancy: +14.7% to 71.5%
    • ADR: +20.9% to IDR1,221,707.16
    • RevPAR: +38.7% to IDR 874,006.42

The absolute ADR and RevPAR levels were the highest for any month in STR’s Jakarta database. STR analysts note that the 2018 Asian Games, held 18 August through 2 September, drove a 16.2% increase in demand (room nights sold) in the market.

Tokyo

  • Occupancy: +1.9% to 86.5%
    • ADR: +5.2% to JPY18,186.92
    • RevPAR: +7.2% to JPY15,734.13

STR analysts note that inbound tourism helped push one of the highest-ever August occupancy levels in the market. According to the Japan National Tourism Organization, Japan saw a 4.1% year-over-year increase in international visitors in August.

Japan in going like a rocket. In the latest Market Forecast for Tokyo, STR analysts expect continued growth in RevPAR (+6%) in 2019 and 2020.

Edited by Peter Needham

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