In October, hotels in the Asia/Pacific region reported occupancy rose 1.6% to 72.5%, ADR increased 1.5% to $111.68 and RevPAR rose 3% to $80.93.
LONDON—Hotels in the Asia Pacific region posted positive results across the three key performance metrics during October 2018, according to data from STR.
U.S. dollar constant currency, October 2018 vs. October 2017
• Occupancy: +1.6% to 72.5%
• Average daily rate (ADR): +1.5% to US$111.68
• Revenue per available room (RevPAR): +3.0% to US$80.93
Local currency, October 2018 vs. October 2017
• Occupancy: +18.0% to 75.6%
• ADR: +39.0% to IDR1,890,946.89
• RevPAR: +64.1% to IDR1,429,016.40
The absolute ADR and RevPAR levels were the highest for any October in STR’s Bali database, while the absolute occupancy level was the largest for an October in the market since 2011. STR analysts note that performance was lifted during 8-14 October, when meetings of the Boards of Governors of the International Monetary Fund and World Bank Group were held.
• Occupancy: -16.1% to 63.5%
• ADR: +0.7% to THB2,985.51
• RevPAR: -15.5% to THB1,896.78
The occupancy level was the lowest for an October in the market since 2009, while the absolute ADR and RevPAR levels were the lowest for an October since 2010. The steep year-over-year decrease in occupancy was worsened by comparison with a strong October in 2017. Regardless, Phuket has now seen four consecutive months of RevPAR declines. STR analysts believe this could be due to a decline in group business, along with a softening of tourist numbers from Mainland China, something that other key destinations in Thailand have also seen in recent months.
The above is a news release written by a third party. While HNN’s editorial mission is to produce unique content, it occasionally publishes timely, newsworthy news releases to complement in-house reporting efforts. All news releases are clearly marked as such. For questions and clarification, please contact Editor-in-Chief Stephanie Ricca at email@example.com.