Asian hotels rebound in May
June 23, 2014
Published on Jun 23, 2014
Occupancy climbs 3.3% to end a series of monthly declines
Following several months of declining revPAR, the Asia Pacific hotel sector experienced a slight rebound in May 2014.
According to the latest data from STR Global, the region's revPAR (revenue per available room) increased 3.3% to US$77.80 last month. This was driven by a 3.2% rise in occupancy to 67.6%, while average daily rates (ADR) were almost flat, climbing 0.1% to US$115.10.
And STR Global's managing director, Elizabeth Winkle, explained that the growth was driven by a number of strongly performing markets.
"One of the strongest performers in the region in terms of occupancy growth was the Philippines, rising 13.7% to 70.6% due to an increase in demand of 17.6%," Ms Winkle said. "Indonesia reported positive rate growth in May, rising 10.7%. This is one of the highest increases in the region, primarily driven by Jakarta, which increased rates by 12.1%."
"Thailand continues to experience decreases in both occupancy (-12.6%) and revPAR (-10.2%), while ADR continues to grow. Singapore and Hong Kong traditionally tend to follow each other in ADR growth. Year-to-date, Singapore is outpacing Hong Kong, as rates grew 2.9% and 1.6%, respectively," she added.
In terms of key national markets, China (+6.0% to 66.8%), India (+2.0% to 54.1%) and Australia (+4.8% to 72.4%) all experienced rising occupancy levels in May. China and Australia also recorded positive ADR and revPAR, but India's revPAR was impacted by declining rates.
For the first five months of the year, Asia Pacific has now experienced a 2.1% drop in revPAR, as a 1.5% rise in occupancy, to 67.0%, has been offset by a 3.6% drop in ADR, to US$119.02.
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