Asia Pacific Hotels deliver a mixed performance
Global data benchmarking and analytics company STR has revealed hotels in the Asia Pacific delivered mixed results in three performance metrics during February this year.
Occupancy rates for the region increased slightly to 68.7% in February 2017, up from 63.6% in the same period in 2016. This increase was largely driven by Northeastern Asia, whose occupancy rates surged from 58.3% last year to 65.3% this year. Central and South Asian markets picked up over the period as well, from 72.0 to 73.7%. Markets in Australia and Oceania saw a drop in occupancy from 78.0% to 77.7% over the period.
Average daily room rates (ADR) for the region fell from US$108.36 in February 2016 to US$102.95 this year. Central and South Asia saw a drop from US$125.21 to US$122.48 in 2017, while the greatest decline was registered by Northeastern Asia whose ADR fell from US$92.93 in February 2016 to US$86.48 for the same month this year. Meanwhile, the ADR for Australia and Oceania climbed slightly from US$149.92 in February 2016 to US$150.55 in February this year.
Revenue per available room (RevPAR) figures for Asia Pacific showed a small increase from US$68.88 in February 2016 to US$70.67 this year. Leading the pack were Northeastern Asia which witnessed growth from US$54.15 in February last year to US$56.50 in February this year. Central and South Asia moved ever so slightly from US$90.13 in February last year to US$90.28 in the same month this year. Australia and Oceania saw a slight RevPAR increase from US$116.99 in February last year to US$117.05 in February this year. Southeastern Asia also experienced a miniscule RevPAR increase from US$84.49 in February last year to US$84.74 in February this year.