August 2014 Performance of Hotels in Asia; Bangkok RevPAR Down 14.3%

According to data compiled by STR Global, hotels in the Asia Pacific region experienced mostly positive results during August 2014 when reported in U.S. dollars.

In August 2014, the region’s occupancy rose 1.1% to 72.6%; ADR remained virtually flat, rising 0.3% to US$116.54 while RevPAR was up 1.4% 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%), while rate continued to grow (+5.6%), when measured in local currency.”

Highlights from key market performers for August 2014 in local currency (year-on-year):

Jakarta, Indonesia (+14.9% to 66.0%), and Shanghai, China (+11.1% to 73.2%), reported the only double-digit occupancy increases.

Bangkok, Thailand, fell 14.8% to 69.0% in occupancy, posting the largest decrease in that metric.

Osaka, Japan, led the ADR increases, rising 19.1% to JPY14,390.72.

Delhi-NCR, India, fell 6.4% to INR5,446.96 in ADR, reporting the largest decrease in that metric.

Four markets achieved double-digit RevPAR increases: Jakarta (+25.8% to IDR753,849.97); Osaka (+18.9% to JPY13,144.06);

Shanghai (+14.2% to CNY411.03); and Auckland, New Zealand (+12.1% to NZD109.09).

Bangkok fell 14.3% to THB2,121.43 in RevPAR, experiencing the largest decrease in that metric.

Highlights from key market performers for August 2014 in U.S. dollars (year-on-year):

Three markets achieved double-digit ADR growth: Auckland (+14.1% to US$117.59); Mumbai, India (+12.8% to US$112.63); Osaka (+12.3% to US$138.24).

Beijing, China (-2.8% to US$89.35), and Bali, Indonesia (-2.6% to US$156.89), posted the largest ADR decreases for the month.

Auckland jumped 20.7% to US$91.12 in RevPAR, experiencing the largest growth in that metric, followed by Mumbai (+20.1% to US$73.77) and Jakarta (+17.7% to US$64.38).