Hotels in the Asia Pacific region experienced small increases in terms of rates, occupancy and revPAR (revenue per available room) in October 2015.
According to the latest data from STR Global, the region’s overall occupancy edged up 0.8% last month, to 71.7%, while average daily rate (ADR) climbed 1.7% to US$113.50. This allowed revPAR to increase 2.6% to US$81.42.
But there were big differences between the performances of several key Asia Pacific markets. India reported double-digit growth in terms of both occupancy (+15.0% to 62.8%) and revPAR (+13.6% to INR3,684, or approx. US$55). ADR in the country dipped 1.2% to INR5,866.
Singapore meanwhile, reported growth across the all three key metrics: occupancy (+4.2% to 85.9%), ADR (+0.6% to SG$297.18, or approx. US$210) and revPAR (+4.9% to SG$255.27). But in Hong Kong, rising occupancy (+3.5% to 88.5%) was offset by a 7.4% decline in ADR, to HK$1,810 (or approx. US$233), causing revPAR to fall 4.1% to HK$1,602.
And in the Maldives, a sharp decline in occupancy (-16.3% to 61.3%) coupled with falling ADR (-5.8% to MVR9,675, or approx. US$618) caused revPAR to slump 21.1% to MVR5,929.
For the first 10 months of 2015, Asia Pacific’s hotel performance is virtually flat compared to the same period in 2014, with occupancy up 0.3% to 68.2%, ADR down 0.4% to US$108.29 and revPAR down 0.1% to US$73.83.
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