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In August 2014, the region’s occupancy rose 1.1 percent to 72.6 percent; its average daily rate remained virtually flat, rising 0.3 percent to US$116.54. Hotels in the Asia Pacific region experienced mostly positive results during August 2014 when reported in U.S. dollars, according to data compiled by STR Global. In August 2014, the region’s occupancy rose 1.1 percent to 72.6 percent; its average daily rate remained virtually flat, rising 0.3 percent to US$116.54; and its revenue per available room was up 1.4 percent to US$84.63. “Performance was mixed across the region this month”, said Elizabeth Winkle, managing director of STR Global. “India and Indonesia saw strong occupancy growth in August. Demand in India has continued to increase following the elections in April. After a period of uncertainty, the outlook is optimistic. After months of strong rate growth with declining occupancy, Indonesia reported an increase in occupancy (+8.1 percent), while rate continued to grow (+5.6 percent), when measured in local currency”. Highlights from key market performers for August 2014 in local currency (year-over-year comparisons): Jakarta, Indonesia (+14.9 percent to 66.0 percent), and Shanghai, China (+11.1 percent to 73.2 percent), reported the only double-digit occupancy increases. Bangkok, Thailand, fell 14.8 percent to 69.0 percent in occupancy, posting the largest decrease in that metric. Osaka, Japan, led the ADR increases, rising 19.1 percent to JPY14,390.72. Delhi-NCR, India, fell 6.4 percent to INR5,446.96 in ADR, reporting the largest decrease in that metric. Four markets achieved double-digit RevPAR increases: Jakarta (+25.8 percent to IDR753,849.97); Osaka (+18.9 percent to JPY13,144.06); Shanghai (+14.2 percent to CNY411.03); and Auckland, New Zealand (+12.1 percent to NZD109.09). Bangkok fell 14.3 percent to THB2,121.43 in RevPAR, experiencing the largest decrease in that metric. Performances of key countries in August 2014* (all monetary units in local currency):
Highlights from key market performers for August 2014 in U.S. dollars (year-over-year comparisons): Three markets achieved double-digit ADR growth: Auckland (+14.1 percent to US$117.59); Mumbai, India (+12.8 percent to US$112.63); Osaka (+12.3 percent to US$138.24). Beijing, China (-2.8 percent to US$89.35), and Bali, Indonesia (-2.6 percent to US$156.89), posted the largest ADR decreases for the month. Auckland jumped 20.7 percent to US$91.12 in RevPAR, experiencing the largest growth in that metric, followed by Mumbai (+20.1 percent to US$73.77) and Jakarta (+17.7 percent to US$64.38). |
