Hotels in the Asia Pacific region continued to experience declining revPAR (revenue per available room) in November 2013.
According to the latest data from STR Global, the region’s revPAR fell 3.8% to US$89.12 last month, as a 4.9% drop in average daily rates (ADR), to US$123.13, offset a 1.1% rise in occupancy, to 72.4%. And this trend of rising occupancy and falling ADR was broadly experienced across Asia’s sub-regions.
In Northeast Asia occupancy rose 1.5% to 71.2%, only to be countered by a 3.5% slip in ADR, to US$108.76. The trend was more pronounced in Central & South Asia, where a 3.5% rise in occupancy, to 63.6%, was dramatically offset by a 12.3% slump in ADR, to US$125.45. In Oceania, occupancy edged up 0.7% to 79.1% while ADR fell 8.7% to US$166.11.
Southeast Asia, which has been the region’s strongest growth market in 2013, experienced slight declines in both occupancy (-0.1% to 75.4%) and ADR (-0.5% to US$136.80).
“Asia Pacific’s revPAR decline has been driven by rate. However, it should be noted that the revPAR decline began in 2012 as demand started to flatten,” said Elizabeth Winkle, STR Global’s managing director.
She added however, that some Southeast Asian countries, “such as Thailand and Indonesia”, are still performing well, driven by increased travel from China.
In terms of individual markets, Mumbai saw the strongest occupancy growth in November, rising 9.5% to 70.3%, while Hanoi fell 8.4% in occupancy to 71.3%.
In local currency terms, Jakarta (+14.4% to IDR1.15 million, or approximately US$93) saw the most rapid ADR growth, but Delhi’s woes continued with a 7.2% drop to INR7,652, or approx. US$123. In terms of revPAR, Tokyo (+17.4% to JPY15,490, or approx. US$149) was the best performer.
For the first 11 months of the year, Asia Pacific’s revPAR has now fallen 3.9% to US$85.59, following a 0.2% rise in occupancy, to 68.3%, and a 4.0% drop in ADR, to US$122.36.
Comments are closed.