STR: Asia/Pacific hotel performance for July 2016
STR: Asia/Pacific hotel performance for July 2016
25 AUGUST 2016 7:40 AM

Hotels in the Asia/Pacific region reported mostly positive year-over-year July 2016 performance results when calculated in U.S. dollar constant currency. Occupancy rose 2.8% to 72.1%, while ADR was nearly flat (-0.3% to $96.62) and RevPAR increased 2.4% to $69.68.

LONDON—Hotels in the Asia Pacific region recorded mostly positive results in the three key performance metrics when reported in U.S. dollar constant currency, according to July 2016 data from STR.

Compared with July 2015, the Asia Pacific region reported a 2.8% increase in occupancy to 72.1%. Average daily rate (ADR) was nearly flat (-0.3% to US$96.62), while revenue per available room (RevPAR) grew 2.4% to US$69.68.

Performance of featured countries for July 2016 (local currency, year-over-year comparisons):

India recorded positive performance figures across the three key performance metrics: occupancy (+6.4% to 61.9%), ADR (+3.0% to INR5,068.31) and RevPAR (+9.6% to INR3,139.32). According to the India Ministry of Tourism, International visitors to the country increased 17.1% compared with July 2015. Bangladesh, the United States and the United Kingdom represented the top three feeder markets.

Singapore reported mostly flat performance in the three metrics: occupancy (+0.4% to 87.8%), ADR (-1.0% to SGD276.97) and RevPAR (-0.6% to SGD243.16). July events in the country included Singapore International Water Week (10-14 July) and the World Cities Summit (10-14 July). A 4.3% rise in supply placed pressure on ADR, according to STR analysts. The Upper Midscale class posted the highest supply increase (+8.6%).

South Korea saw significant increases in occupancy (+41.6% to 76.1%) and RevPAR (+38.1% to KRW126,633.06). ADR in the country was down 2.4% to KRW166,423.59. The performance was mainly due to a low comparison base with July 2015 when the country’s hotel industry was negatively affected by the Middle East respiratory syndrome outbreak. In addition, the 76.1% absolute occupancy level marked South Korea’s highest July occupancy figure since 2013. Year to date in 2016, South Korea’s occupancy is up 11.0% compared with the first seven months of 2015, while ADR is down 4.9% for the same time period.

Vietnam posted growth in each of the three metrics. Occupancy in the country rose 6.7% to 69.9%; ADR was up 5.1% to VND2,830.430.06; and RevPAR increased 12.1% to VND1,979,639.52. July hotel performance received a boost from a 41.2% increase in international arrivals, as reported by the Vietnam National Administration of Tourism. STR analysts note that Vietnam’s economic growth will likely continue to drive hotel demand, especially in Ho Chi Minh City and Hanoi.

Performance of featured markets for July 2016 (local currency, year-over-year comparisons):

Bangkok, Thailand, reported increases in each of the three metrics: occupancy (+4.7% to 81.1%), ADR (+4.3% to THB3,264.95) and RevPAR (+9.2% to THB2,648.47). The market reported relatively low supply growth (+0.8%), and demand received a lift from the 16-20 July holiday period.

Jakarta, Indonesia, saw increases in occupancy (+9.1% to 50.9%) and RevPAR (+5.5% to IDR553,474.11). The market’s ADR fell 3.3% to IDR1,088,114.35. Performance increases were strong due a Ramadan calendar shift and a low comparison base from July 2015.

Osaka, Japan, reported a 1.0% decline in occupancy to 91.9%, but a 4.9% rise in ADR to JPY17,141.11 boosted RevPAR 3.9% to JPY15,744.56. Despite the year-over-year decline in occupancy, the market maintains high absolute occupancy levels with 23 nights above 90% in July.

Shanghai, China, posted increases across the key metrics. Occupancy rose 4.3% to 80.5%; ADR was up 1.2% to CNY592.96; and RevPAR increased 5.6% to CNY477.04. The occupancy level was the highest in the market since November 2014 with occupancy increases in both the Transient (+5.0%) and Group (+5.9%) segments.

View the constant currency version of the July global hotel review.

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