In this week’s roundup of news from the Asia/Pacific region: STR performance data; Singapore’s staycation stimulus; and more.
Hotel News Now each week features a news roundup from a different region of the world. Today’s review covers the Asia/Pacific region.
STR: Asia/Pacific hotel performance for August 2020
Hotels in the Asia/Pacific region reported improved monthly performance but negative year-over-year performance, according to data from STR, parent company of HNN. Occupancy in the region fell 31% to 50.8% while average daily rate dropped 27.3% to $69.81, resulting in revenue per available room decreasing by 49.8% to $35.48.
“Although up month to month, each metric was the lowest for any August on record in the region,” the release states.
Recovery in boutique hotel segment varies by location
In a presentation during the 2020 Boutique Lifestyle Digital Summit, data from STR and Horwath HTL showed July was the worst month so far for boutique hotel RevPAR declines, reports HNN’s Danielle Hess. In looking at the recovery prospects for each region, a survey of hoteliers in the Asia/Pacific region had mixed results on their feelings about confidence in governments getting the coronavirus under control and on when they thought things would return to normal.
“If you look at markets like Australia and New Zealand, which are very remote and are highly dependent on international travelers, if there’s no airlift, if there’s no international travel, people obviously cannot get there,” said James Chappell, global business director for Horwath HTL.
Singapore helps hoteliers with staycation stimulus
The government of Singapore has come to the aid of hoteliers who grappled with travel restrictions and the loss of international demand by encouraging residents to support local businesses through staycations, reports HNN contributor Selena Oh.
“We are very thankful for the overwhelming support from our local guests,” said Fernando Gibaja, GM at Capella Singapore. “Since reopening, we see an average of 65% to 70% occupancy. Because international travel is not permitted yet, the next best thing closer to a vacation would be in Sentosa (Island), which provides a resort-style vibe. It is very easy to be very comfortable in maintaining social distancing at Capella across 30 acres of lush greenery.”
Deals and developments
- The Crystalbrook Collection has acquired the Fantauzzo Art Series Hotel at Brisbane’s Howard Smith Wharves for 75 million Australian dollars ($53.6 million).
- Australia’s The Belgrave Group has sold its hotel development project in Cremorne outside of Melbourne to a private investment group for AU$11 million ($7.9 million).
- Accor will manage Australia-based property developer Chiodo Corporation’s AU$300 million ($214.3 million) Port Douglas Resort as the country’s first Fairmont Hotel.
Compiled by Bryan Wroten.