During February 2017, Asia/Pacific hotels reported an 8% occupancy increase to 68.7%, a 5% ADR decrease to $102.95 and a 2.6% RevPAR increase to $70.67.
LONDON—Hotels in the Asia Pacific region reported mixed results in the three key performance metrics during February 2017, according to data from STR.
U.S. dollar constant currency, year-over-year comparisons:
Asia Pacific region:
- Occupancy: +8.0% to 68.7%
- Average daily rate (ADR): -5.0% to US$102.95
- Revenue per available room (RevPAR): +2.6% to US$70.67
Local currency, year-over-year comparisons:
- Occupancy: 0.0% to 77.8%
- ADR: -0.6% to AUD194.09
- RevPAR: -0.6% to AUD151.06
Australia’s performance was stable as supply and demand grew at an identical rate (+1.8%). At the market level, Sydney benefitted from the Chinese New Year as well as Tropfest (7-11 February) events. The market’s absolute RevPAR level (AUD231.57) was the second-highest on record behind only September 2000 (Summer Olympics).
- Occupancy: -4.9% to 56.7%
- ADR: -8.9% to TWD5,347.32
- RevPAR: -13.4% to TWD3,033.41
STR analysts believe that hotel performance was hurt by a decline in arrivals from Mainland China. For January, the Taiwan Tourism Bureau reported a 30.2% decrease in such arrivals while Mainland Chinese visitors made up the largest percentage (31%) of Taiwan’s total international arrivals. February hotel supply growth was marginal (+0.4%), but demand fell significantly (-4.6%).
- Occupancy: -1.6% to 86.1%
- ADR: -4.2% to THB4,091.44
- RevPAR: -5.7% to THB3,523.94
Similar to Taiwan, STR analysts attribute some of Thailand’s performance declines to a decrease in arrivals from Mainland China. According to the Association of Thai Travel Agents, arrivals from Mainland China decreased 23.1% from 1 January to 10 March 2017 when compared with the same date range in 2016. Meanwhile, supply growth across the country (+2.7%) was more than double the rate of demand growth (+1.1%). Significant RevPAR declines were seen in two of Thailand’s largest markets, Bangkok (-4.3%) and Phuket (-5.3%).
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