Hotels in the Asia Pacific region experienced mostly positive performance results during February 2014, but while occupancy was up, rates were down.
According to STR data, the region’s occupancy for February rose 8.1 percent to 67.1 percent; its average daily rate dropped 4.6 percent to US$125.03; and its revenue per available room increased 3.1 percent to US$83.88.
"Asia Pacific saw positive occupancy growth this month, primarily driven by Northeast Asia—and particularly China”, said Elizabeth Winkle, managing director of STR Global. “The timing of the Chinese New Year positively impacted performance celebrations occurred in January and February. Bangkok has been impacted by the political situation, so we are seeing a significant decline in occupancy. However, we have not seen a significant impact on the beach markets. The Australia and Oceania markets are hitting high occupancy levels, approximately 90 percent, including Auckland (91.2 percent), Sydney (90.1 percent) and Melbourne (86.0 percent)."
Highlights from key market performers for February 2014 in local currency (year-over-year comparisons):
* Shanghai, China, reported the largest occupancy increase, rising 29.9 percent to 58.7 percent, followed by Beijing, China (+25.3 percent to 57.7 percent), and Hanoi, Vietnam (+20.6 percent to 72.0 percent).
* Bangkok, Thailand, fell 34.0 percent in occupancy to 54.7 percent, posting the largest decrease in that metric.
* Jakarta, Indonesia (+16.5 percent to IDR1,261,365.74), and Bali, Indonesia (+14.8 percent to IDR1,445,004.17), experienced the largest ADR increases.
* Mumbai, India, fell 2.8 percent in ADR to INR7,930.13, reporting the largest decrease in that metric.
* Four markets experienced RevPAR increases of more than 25 percent: Shanghai (+31.7 percent to CNY330.33); Taipei, Taiwan (+30.7 percent to TWD4,243.50); Beijing (+26.8 percent to CNY293.68); and Bali (+25.9 percent to IDR1,002,603.71).
* Bangkok fell 34.7 percent in RevPAR to THB1,765.14, reporting the largest decrease in that metric.
Highlights from key market performers for February 2014 in U.S. dollars (year-over-year comparisons):
* Auckland, New Zealand, rose 9.4 percent in ADR to US$139.29, reporting the largest increase in that metric.
* Mumbai reported the largest ADR decrease, falling 15.5 percent to US$127.82 in February.
* Four markets achieved RevPAR increases of more than 20 percent: Shanghai (+35.2 percent to US$53.89); Beijing (+30.1 percent to US$47.92); Taipei (+27.8 percent to US$139.80); and Hanoi (+22.1 percent to US$80.00).
* Bangkok fell 40.3 percent in RevPAR to US$54.06, posting the largest decrease in that metric.