STR: Asia/Pacific hotel performance for Q3 2019
 
STR: Asia/Pacific hotel performance for Q3 2019
23 OCTOBER 2019 8:48 AM

Asia/Pacific hotel occupancy decliend 1.7% to 71% in the third quarter, and a 0.5% ADR dip to $98.23 drove RevPAR down 2.2% to $69.72.

SINGAPORE—Hotels in the Asia Pacific region reported negative results in the three key performance metrics during Q3 2019, according to data from STR.

U.S. dollar constant currency, Q3 2019 vs. Q3 2018

Asia Pacific

• Occupancy: -1.7% to 71.0%
• Average daily rate (ADR): -0.5% to US$98.23
• Revenue per available room (RevPAR): -2.2% to US$69.72

Local currency, Q3 2019 vs. Q3 2018

Kuala Lumpur, Malaysia

• Occupancy: +4.6% to 74.6%
• ADR: -5.8% to MYR331.98
• RevPAR: -1.4% to MYR247.75

The increase in occupancy was the first for any quarter in the market since Q1 2018. STR analysts note that quarterly performance was driven by a 6.8% jump in demand, which included August and September increases of 11.0% and 8.2%, respectively. When looking at individual segments of the market, the Luxury class saw the highest demand jump (+21.7%). Group demand reached double digits for the quarter (+15.2%), while transient demand was up 7.0%.

Ho Chi Minh City, Vietnam

• Occupancy: -2.2% to 67.3%
• ADR: +4.1% to VND2,610,177.33
• RevPAR: +1.8% to VND1,755,605.87

The decline in occupancy came as supply (+2.7%) outpaced demand (+0.5%). STR analysts note that the slowdown in demand could be due to the growing popularity of other destinations in Vietnam such as Phu Quoc, Da Nang and Hanoi. When looking at the individual months, August saw the largest declines in occupancy (-3.9%) and RevPAR (-0.2%).

Download STR's September 2019 global hotel review.

A note to editors: All references to STR data and analysis should cite “STR” as the source. Please refrain from citing “STR, Inc.” “Smith Travel Research” or “STR Global” in sourcing.

About STR
STR provides clients from multiple market sectors with premium, global data benchmarking, analytics and marketplace insights. Founded in 1985, STR maintains a presence in 15 countries with a corporate North American headquarters in Hendersonville, Tennessee, an international headquarters in London, and an Asia Pacific headquarters in Singapore. For more information, please visit str.com.

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 Editorial Director 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.