STR: Asia/Pacific hotel performance for February 2017
 
STR: Asia/Pacific hotel performance for February 2017
23 MARCH 2017 8:41 AM

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:

Australia

  • 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).

Taiwan

  • 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%).

Thailand

  • 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%).

International Media Contacts:

Alex Anstett
Media & Communications Coordinator
aanstett@str.com
+44 (0)207 922 1979

Naureen Ahmed
Director of Marketing, Research & Analysis
media@str.com
+44 (0)207 922 1965

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 sricca@hotelnewsnow.com.

No Comments

Comments that include blatant advertisements or links to products or company websites will be removed to avoid instances of spam. Also, comments that include profanity, lewdness, personal attacks, solicitations or advertising, or other similarly inappropriate or offensive comments or material will be removed from the site. You are fully responsible for the content you post. The opinions expressed in comments do not necessarily reflect the opinions of Hotel News Now or its parent company, STR and its affiliated companies. Please report any violations to our editorial staff.