Asia Pacific Hotels Enjoy Rate Gains, Osaka Leading Market
According to STR Global, hotels in the Asia Pacific region experienced mostly positive results during July when reported in U.S. dollars.
In July 2014, the region's occupancy rose 0.3 percent to 70.0 percent; its average daily rate remained virtually flat rising, 0.2 percent to US$112.44; and its revenue per available room was up 0.5 percent to US$78.73.
"On a 12-month-moving-average basis, Asia Pacific has seen a supply increase of 3.7 percent, and at the same time demand has risen by 4.8 percent", said Elizabeth Winkle, managing director of STR Global. "The result of demand outpacing supply is that we see positive occupancy growth (+1.1 percent) for the region, achieving occupancy of 68.6 percent.
"Year to date, Osaka reported a strong increase in rate (+16.6 percent) and reported one of the highest RevPAR growths for the month (+18.9 percent) in local currency. The city and Japan as a whole are seeing improvement due to the devaluation of the Yen and general economic recovery", Winkle said. "Bali (+17.3 percent) and Tokyo (+10.8 percent) also reported strong year-to-date RevPAR growth". Highlights from key market performers for July 2014 in local currency (year-over-year comparisons):
- Mumbai, India, reported the only double-digit occupancy increase, rising 10.7 percent to 64.2 percent.
- Jakarta, Indonesia (-22.0 percent to 49.8 percent), and Bangkok, Thailand (-21.1 percent to 56.4 percent), reported the largest occupancy decreases.
- Osaka, Japan, rose 16.8 percent in ADR to JPY12,880.81, achieving the largest increase in that metric. Bali, Indonesia, followed with an 11.2-percent increase to IDR1,745,651.85.
- Sydney, Australia, fell 5.1 percent in ADR to AUD179.49, posting the largest decrease in that metric.
- Four markets experienced double-digit RevPAR increases: Osaka (+19.6 percent to JPY11,244.05); Bali (+18.4 percent to IDR1,310,345.40); Taipei, Taiwan (+15.4 percent to TWD3,979.56); and Mumbai (+10.3 percent to INR4,362.32).
Performances of key countries in July 2014* (all monetary units in local currency):Highlights from key market performers for July 2014 in U.S. dollars (year-over-year comparisons):
- Bangkok (-20.7 percent to THB1,663.09) and Kuala Lumpur, Malaysia (-20.0 percent to MYR206.20), reported the largest RevPAR decreases during July.
- Seoul, South Korea (+12.5 percent to US$193.39), and Osaka (+11.9 percent to US$125.81) reported the largest ADR increases during July.
- Delhi-NCR, India, fell 4.6 percent in ADR to US$91.70, posting the largest decrease in that metric.
- Four markets achieved double-digit RevPAR increases: Taipei (+15.2 percent to US$132.53); Osaka (+14.6 percent to US$109.82); Auckland, New Zealand (+14.0 percent to US$83.66); and Mumbai (+10.6 percent to US$72.46).
- Jakarta (-23.7 percent to US$47.43) and Bangkok (-22.3 percent to US$52.05) reported the largest RevPAR decreases.